Insurance Journal

SEPTEMBER 17, 2024

Executive Summary: Artificial intelligence (AI) is on the brink of transforming most aspects of business, including insurance, but it needs to be used responsibly, according to Zywave Chief Technology Officer Doug Marquis, who takes a look at the some of …

Insurance Industry 278

Insurance Industry Insurer Insured Insurance 278

Insurance Journal

JULY 26, 2024

In today’s rapidly evolving digital landscape, customer experience is paramount across all industries, including insurance. While traditionally viewed as a transactional service, insurance companies increasingly recognize the significance of fostering … This post is part of a series sponsored by Dyad.

Insurance Industry 279

Insurance Industry Insurance Companies Insurer Insured 279

Insurance Journal

OCTOBER 11, 2024

Fitch Ratings expects Hurricane Milton to cause between $30 billion and $50 billion in insured losses to push total industry losses in 2024 above $100 billion for the fifth straight year. The range of losses expected by rating agency Fitch …

Insurance Industry 264

Insurance Industry Insurer Insured Insurance 264

Property Insurance Coverage Law

OCTOBER 24, 2024

The recently issued Emergency Rule 69BER24-4 in Florida creates a concerning conflict with Xactimate’s license agreement, highlighting yet another way the insurance industry exercises control over claims adjusting practices.

License 172

License Insurance Industry Property Insurance Claim 172

Property Insurance Coverage Law

OCTOBER 23, 2024

While Jimmy Patronis and Governor DeSantis trumpet their latest emergency rule as consumer protection following the CBS 60 Minutes Expose noted in CBS 60 Minutes Exposes Alleged Insurance Company Fraud: Adjusters Reveal Altered Hurricane Damage Estimates by Claims Management, the reality reveals a different story.

Policyholder 197

Policyholder Insurance Industry Insurance Companies Protection 197

Insurance Journal

NOVEMBER 17, 2024

The insurance industry is facing a significant rise in roof-related claims. The combination of increasingly severe weather events, inflation-driven repair costs and the growing issue of roofing scams has created a perfect storm — one that is straining insurer portfolios …

Home Insurance 262

Home Insurance Claim Insurance Industry Insurer 262

Redbird Agents

SEPTEMBER 4, 2024

Choosing the right Customer Relationship Management (CRM) system is crucial for enhancing customer interactions and streamlining operations within the insurance industry. Stars Insurance Lead Machine $97 - $297 Yes Yes Limited N/A Less Annoying CRM $15/user Yes Custom Limited 4.9 Stars Salesforce $25 - $300 Yes Yes Extensive 4.3

Insurance Industry 130

Insurance Industry Broker-Agent Insurer Insured 130

Insurance Journal

OCTOBER 2, 2024

The International Longshoremen’s Association (ILA) went on strike on Tuesday, Oct 1. The strike is expected to affect more than 20 ports along the Eastern Seaboard and Gulf Coast, including the ports of New York and New Jersey, Baltimore and …

Insurance Industry 262

Insurance Industry Insurer Insured Insurance 262

Insurance Journal

NOVEMBER 17, 2024

The insurance industry is in the midst of a digital revolution, with artificial intelligence (AI) at the heart of it. From streamlining claims processing to creating personalized policies, AI has quickly become a vital tool for insurers striving to stay …

Insurance Industry 227

Insurance Industry Insurer Insured Insurance 227

Insurance Journal

NOVEMBER 3, 2024

The insurance industry has historically been slow to adopt new technologies o often relying on traditional outreach, marketing and client management methods. However, digital transformation has taken hold across the sector in recent years, radically reshaping how insurance companies engage …

Insurance Industry 305

Insurance Industry Insurance Companies Insured Insurer 305

Insurance Journal

AUGUST 6, 2024

In the insurance industry, the term “termination” can refer to a few different things. These occur when an insurance policy runs its course and the … This post is part of a series sponsored by AgentSync. First, there are policy terminations.

Insurance Carrier 240

Insurance Carrier Insurer Insured Insurance 240

Insurance Journal

NOVEMBER 6, 2024

By this time next year, plaintiffs lawyers, who have frequently been held up as thorns in the side of the Florida property insurance industry for their sometimes-aggressive pursuit of policyholder claims litigation, could have a stamp of credibility to brandish …

Policyholder 263

Policyholder Property Insurance Insurance Industry Claim 263

Insurance Journal

NOVEMBER 20, 2024

Data is at the core of the insurance industry. From the smallest independent agencies to the largest legacy carriers, insurance organizations of all sizes house data. This post is part of a series sponsored by AgentSync. This includes distribution channel …

Insurance Industry 182

Insurance Industry Insured Insurer Insurance 182

Insurance Journal

AUGUST 7, 2024

The insurance industry is at a pivotal moment in embracing generative AI. According to the ISG Pulse Check State of the European Insurance Industry 2024, insurance firms are actively engaged in generative AI transformations and currently comprise nearly a quarter …

Insurance Industry 273

Insurance Industry Insurer Insured Insurance 273

Insurance Journal

OCTOBER 29, 2024

Back-to-back hurricane landfalls in the span of less than two weeks have placed flood insurance in a new light for many inside and outside of the insurance industry, if not front and center. Images of flood and storm damage from …

Damage 261

Damage Insurance Industry Insurer Insured 261

Insurance Journal

AUGUST 19, 2024

Senior figures in the insurance industry are calling on the UK to restart work on a potential new market worth billions of pounds as part of a drive to boost competitiveness. Executives have written to Chancellor Rachel Reeves calling for …

Insurer 261

Insurer Insured Insurance Insurance Industry 261

Insurance Journal

AUGUST 8, 2024

The Maryland Insurance Administration (MIA) is notifying the insurance industry that the maximum penalties that may be imposed for certain violations of the state’s insurance laws will be going up substantially starting October 1. The legislature (House Bill 67 and …

Insurance Industry 278

Insurance Industry Insurer Insured Insurance 278

Insurance Journal

OCTOBER 9, 2024

Hurricane Milton could result in a $60 billion loss for the global insurance industry, creating a surge in 2025 reinsurance prices which could boost some insurance companies’ shares, analysts at RBC Capital said. The Category 5 hurricane is due to …

Insurance Industry 299

Insurance Industry Insurance Companies Insured Insurer 299

Insurance Journal

JULY 23, 2024

Insurance software firm Applied Systems reports that it has acquired Planck, a leading artificial intelligence (AI) company for the insurance industry. Planck provides an AI-based data platform for commercial insurance. It works with US insurance companies, helping them streamline the …

Commercial Insurance 273

Commercial Insurance Commercial Insurance Industry Insured 273

Insurance Journal

OCTOBER 17, 2024

Insurance industry investments in generative AI are expected to surge by over 300 percent from 2023 to 2025 as organizations move from pilots in one or two areas to implementations in multiple functions across business lines. But new research identifies …

Insurance Industry 262

Insurance Industry Insurer Insured Insurance 262

Insurance Journal

JULY 21, 2024

Insurers could face a raft of business interruption claims after a worldwide tech outage crippled industries from travel to finance on Friday, insurance industry experts said. A software update by global cybersecurity firm CrowdStrike appeared to have triggered systems problems …

Business Interruption 312

Business Interruption Claim Insurance Industry Insurer 312

Insurance Journal

SEPTEMBER 5, 2024

Stephens Insurance, LLC, an affiliate of Stephens Inc., He brings more than 25 years of experience in the insurance industry, serving clients … announced Scott Miller will join the firm as a senior vice president within the Property & Casualty practice.

Insurance Industry 264

Insurance Industry Insured Insurer Insurance 264

Insurance Journal

SEPTEMBER 2, 2024

And he may be the best friend the Florida property insurance industry has. He’s been called “eccentric,” a “do-gooder,” a “troublemaker” and a whistleblower. A mechanical engineer based in Edgewater, George Miles has filed formal complaints with the Florida Board …

Property Insurance 306

Property Insurance Insurance Industry Insurer Insured 306

Insurance Journal

JULY 23, 2024

P/C insurance industry overall in 2024, signifying a return to underwriting profitability for the first time since 2021. According to the analysis, private passenger auto insurance … S&P Global Market Intelligence is forecasting a combined ratio of 99.2 for the U.S.

Underwriting 290

Underwriting Underwriter Auto Insurance Insurance Industry 290

Insurance Journal

AUGUST 5, 2024

For decades, Georgia’s insurance industry has sought to eliminate the long-standing provision allowing trucking-accident plaintiffs to sue insurance companies directly. This was the single most important issue the industry wanted to see addressed by lawmakers. Now, with the passage of …

Insurance Companies 289

Insurance Companies Insurance Industry Insurer Insured 289

Insurance Journal

SEPTEMBER 3, 2024

Urban expansion, property exposure and climate change could fuel a 40% increase in annual natural-catastrophe losses for the global insurance industry, according to a new report. The annual loss could rise to $151 billion from the average annual loss of …

Insurance Industry 289

Insurance Industry Insurer Insured Insurance 289

Insurance Journal

JULY 31, 2024

Bain Capital Insurance has announced a capital investment in 1970 Group, a New York-based specialized risk financing provider to the insurance industry. 1970 Group offers expertise in structured financing, credit support and risk management. The company pioneered the concept of …

Risk 263

Risk Insurance Industry Insured Insurer 263

Insurance Journal

OCTOBER 20, 2024

The insurance industry is undergoing a digital transformation, with companies increasingly adopting cloud-based solutions to enhance their operations. This post is part of a series sponsored by Selectsys. Cloud technology offers unparalleled flexibility, scalability, and security, making it an ideal …

Insurance Industry 244

Insurance Industry Insurer Insured Insurance 244

Insurance Journal

SEPTEMBER 29, 2024

The insurance industry is undergoing significant transformation, driven by the adoption of automation in Business Process Outsourcing (BPO). This post is part of a series sponsored by Selectsys. By integrating technologies like artificial intelligence (AI), machine learning (ML), and robotic …

Insurance Industry 246

Insurance Industry Insurer Insured Insurance 246

Insurance Journal

NOVEMBER 7, 2024

Grange Insurance Company, headquartered in Columbus, Ohio, named Nicole Carter as vice president, public liability sales and strategic distribution, effective Jan. Carter has nearly 30 years of experience in the insurance industry. Before joining Grange, she served as …

Liability 246

Liability Insurance Industry Insurance Companies Insured 246

Insurance Journal

SEPTEMBER 26, 2024

In the ever-evolving insurance industry, efficiency and accuracy in policy issuance and servicing are crucial to maintaining competitiveness and delivering a superior customer experience. Insurance carriers are under constant pressure … This post is part of a series sponsored by Selectsys.

Insurance Carrier 246

Insurance Carrier Policy Insurance Industry Insured 246

Insurance Journal

OCTOBER 24, 2024

In the highly competitive insurance industry, the policy lifecycle doesn’t end with the initial sale. Instead, the renewal and retention phases are critical touchpoints that can significantly impact an insurer’s … This post is part of a series sponsored by Selectsys.

Policy 217

Policy Insurance Industry Insured Insurer 217

Property Insurance Coverage Law

NOVEMBER 1, 2024

Note: This guest blog is by Frank Lombard, CPCU, ARM, an independent property/casualty insurance advisor. Not a day passes without reading something about double-digit increases in the cost of home insurance. The insurance industry claims the increases are a result of inflation, climate change, and consumers filing more claims.

Home Insurance 159

Home Insurance Casualty Insurance Property Insurance Insurer 159

Insurance Journal

OCTOBER 1, 2024

In the highly competitive insurance industry, the policy lifecycle doesn’t end with the initial sale. Instead, the renewal and retention phases are critical touchpoints that can significantly impact an insurer’s … This post is part of a series sponsored by Selectsys.

Policy 246

Policy Insurance Industry Insured Insurer 246

Insurance Journal

SEPTEMBER 19, 2024

Introduction In the insurance industry, quality and consistency are key drivers of customer satisfaction and business success. This post is part of a series sponsored by Selectsys. However, maintaining these standards across all operations can be challenging, especially as companies …

Insurance Industry 246

Insurance Industry Insurer Insured Insurance 246

Insurance Journal

SEPTEMBER 11, 2024

In the rapidly evolving insurance industry, traditional management systems often fall short of meeting the demands of today’s digital landscape. This post is part of a series sponsored by Selectsys. Manual processes, outdated interfaces, and limited integration capabilities hinder efficiency …

Insurance Industry 244

Insurance Industry Insurer Insured Insurance 244

Insurance Journal

OCTOBER 10, 2024

Digital transformation is taking the insurance industry by storm as more agencies, carriers, and MGA/MGUs update their manual processes in favor of modern, automated solutions. This post is part of a series sponsored by AgentSync. When it comes to a …

Insurance Industry 246

Insurance Industry Insurer Insured Insurance 246