American Agents Alliance

JULY 5, 2024

And when it comes to the insurance industry, having data and using it well has become a differentiator. Review prior claims and losses and use data this data to identify the highest-risk areas of the agency. Improve underwriting accuracy using data. Data helps drive business decisions, define strategy, and develop ideas.

Risk 52

Risk Broker-Agent Agents Policyholder 52

Property Insurance Centre

JANUARY 4, 2024

Emerging Property Insurance Trends 2024 Welcome to our guide on emerging trends in the property insurance industry. As we dive into the evolving landscape of property insurance, it’s important to stay informed about the latest trends and challenges affecting the market.

Property Insurance 52

Property Insurance Commercial Property Liability Premium 52

Majesco

MAY 23, 2024

Can insurers fill the bucket with the right premiums as fast as claims pour out potential profits? It’s about rethinking underwriting and claims as well as rethinking risk resilience. They suggest digitalization can be a force for closing insurance protection gaps. This is a reaction, not a long-term solution.

Risk 40

Risk Underwriter Underwriting Insurance 40

InsuredMine

MAY 2, 2024

Or what if your home insurance could send you alerts about potential risks and offer customized coverage options? These kinds of innovative services are becoming a reality thanks to insurtech, the use of technology to revolutionize the insurance industry. You might be thinking, “APIs?

Insurance 52

Insurance Insurer Insured Insurance Industry 52

Majesco

APRIL 25, 2024

Policy management flows smoothly from shortstop (underwriting) to second base (billing) to first base (customer service). It’s a double play—claims processed swiftly, premiums collected seamlessly, and customers satisfied. The insurance infield turns grounders into outs, just as MLB infielders turn hits into double plays.

Underwriter 40

Underwriter Underwriting Premium Claim 40

Shield Insurance Agency

AUGUST 1, 2024

Shield Insurance Agency in Hudsonville, MI is now hiring! Now Hiring Insurance Customer Service Rep and Account Manager Duties: Provide timely, professional, accurate, communication to clients, your team, carrier representatives, and underwriters.

Insurance Agency 52

Insurance Agency Insurance Insurer Insured 52

Final Expense Brokerage

MAY 10, 2024

You need to have a thorough understanding of different policy types, such as term life insurance, whole life insurance, and universal life insurance, to effectively advise clients on their options. Obtaining the Necessary Licenses and Certifications To become a life insurance agent, you must meet certain licensing requirements.

Life Insurance 100

Life Insurance Insurance Agent Insurance Agents Agents 100

Scott Insurance

JANUARY 28, 2022

While insurance coverage is typically relied upon for many property-related losses, there remains a disconnect about how mold claims are often handled by the insurance industry. Underwriting is extensive and involves separate applications/questionnaires and an extensive review of historical claims.

General Liability 52

General Liability Deductible Liability Property Damage 52

Majesco

JUNE 13, 2024

Can actuaries, underwriters, and business leaders get back on top and win the combined ratio game? The number of claims is rising. It is helping insurers avoid costly risks, coaching policyholders to make sensible changes and it is dramatically improving the claims process. Machine Learning has been learning!

Risk 40

Risk Underwriter Underwriting Insurance 40

InsuredMine

MARCH 26, 2024

The insurance industry finds itself on the cusp of a transformative era, propelled by technological advancements that present both challenges and tremendous opportunities. Insurance companies recognize the imperative to invest in modern digital technologies to achieve their goals of cost reduction and revenue growth.

Insurance 52

Insurance Insurer Insured Insurance Industry 52

Jackson & Jackson

AUGUST 16, 2024

Why Homeowners Insurance in California is More Challenging in 2024 Changes in the Insurance Industry The insurance industry has been undergoing significant changes in recent years, and these changes have affected the availability and affordability of homeowners insurance in California.

Insurance 52

Insurance Insurer Insured Risk 52

InsuredMine

JULY 19, 2024

Insurance agencies once focused primarily on assessing risks, underwriting policies, and managing claims. The Importance of Customer Retention The importance of customer retention in the insurance industry cannot be overstated. Insurers leverage a wide range of data points to build accurate prediction models.

Risk 52

Risk Policyholder Insurance Insurer 52

Agency Revolution

APRIL 22, 2024

You’re leveraging your rapport with insurance company reps, including account managers, claims specialists, sales teams, and underwriters. A marketing company that knows the insurance industry inside and out can do that for you, too. Integrations can stretch your dollar without stretching your staff.

Insurance Industry 52

Insurance Industry Underwriter Underwriting Insurance Agency 52

Jackson & Jackson

MAY 22, 2024

. “Understanding Multi-Family Property Insurance” Commercial property insurance is a vital safeguard for property owners, protecting their assets against various risks. It covers property damage, loss of income, liability claims, etc.

Property Insurance 52

Property Insurance Commercial Property Commercial Broker-Agent 52

Majesco

AUGUST 22, 2024

Insurance technology, like automotive technology, has been subject to much retrofitting. Out of necessity, the insurance industry has always been subject to incremental use of technology and innovation. To read the full thought-leadership report, be sure to download Realignment in Insurance: Strategic Priorities for Success.

Insurance 40

Insurance Insurer Insured Underwriter 40

Majesco

JULY 25, 2024

Advanced analytics in insurance, when coupled with the right data, can identify new customers, drive operational improvements, or create better claims outcomes. That’s the fascinating part about the application of GenAI and AI/ML within insurance. Knowledge is no longer just power — it’s business gold. Mind the gap!

Insurance 40

Insurance Insurer Insured Underwriter 40

Majesco

OCTOBER 10, 2024

Unfortunately, that example represents the broader market and has only intensified due to rising risk and claims costs. Many insurers are primarily focused on existing, traditional products, either with enhancements or a new version of the product, as reflected in Figure 2. Leaders differentiate themselves.

Risk 40

Risk Auto Insurance Premium Underwriter 40

Scott Insurance

APRIL 21, 2020

Material Change in Risk Manufacturers & Distributors should prepare for the possibility of increased underwriting scrutiny. Materially modifying production and assembly lines to provide desperately needed PPE products could change risk considerations and impact an organization’s insurability.

Risk 40

Risk Liability Underwriter Underwriting 40

Majesco

MARCH 14, 2024

The insurance industry has its own set of trends, but in our case, it is important to distinguish between technology trends (such as cloud vs. on-premise) and pain point trends (such as increased risks and a growing number of retirements). They have created different models to support underwriting decisions, etc.

Insurance 40

Insurance Insurer Insured Building 40

Triple-I: Workers Compensation

APRIL 20, 2021

Similar federal “safe harbor” legislation for the insurance industry – the Clarifying Law Around Insurance of Marijuana Act (CLAIM Act) – was introduced last month. The CLAIM Act would let these businesses obtain insurance to cover the same risks of theft, damage, injury, loss, and liability as all other businesses.

Risk 40

Risk Workers Compensation Commercial General Liability Liability 40