Today’s Leading P&C Claims InsurTechs: 20 Making a Difference
Anyone who says InsurTech is an up-and-coming space hasn’t been paying close enough attention. The InsurTech movement, which began around 2010, is long past its infancy and is both maturing and evolving. This is especially true in the P&C claims space, where companies are gaining traction and having a significant...
Tags: Claims, InsurTech
Adapting to Change: The Next Era of Underwriting in Mid/Large Commercial Lines
What word would you pick to describe the future of underwriting? If ‘adaptable’ came to mind, you would be joining the majority of insurer executives in the mid/large commercial lines segment who thought the same in a recent SMA survey.
Tags: Underwriting, Commercail Lines
Personal Lines Distribution: From Agents First to Agents Last?
Let me begin by saying I am a big fan of agents, and I believe they will play a vital role in personal lines distribution for a long time to come. Clearly, direct distribution models in personal lines, and the prominent companies that feature them, have gained traction and market...
Tags: Distribution
Insurance Vendors Are Upping Their Game as The Competition for Talent Heats Up
Talent has been a front and center topic in boardrooms across the U.S. amid the pandemic, widespread resignations, a labor shortage, and other trends challenging the recruitment and retention of employees. Yet, through the adversity, companies across the insurance ecosystem have adapted remarkably well, including the vendors that serve the industry.
How Personal Lines Insurers are Addressing Digital Transformation Gaps
The personal lines segment is known for leading the charge with innovations and technologies – a reputation that only strengthened during the pandemic. From digital underwriting submissions and virtual inspections to digital FNOL and other capabilities, personal line insurers were poised to meet the new digital needs of customers and...
Digital Transformation in Commercial Lines: A Frenzy of New Activity is Underway
Since 2020, there have been endless discussions around COVID-19’s impact on customers’ needs and how the insurance industry adapted swiftly to unprecedented times. Although the pandemic helped accelerate innovation in some areas of the business, many commercial lines insurers also came to realize how unprepared they were for the digital...
What are Insurers’ Top Talent Objectives in the Post-Pandemic Era?
The pandemic has altered life in so many ways over the past two years. And one change that will likely stick around for years to come is the new workforce dynamic. The competition to attract top talent is as fierce as ever as industries contend against the Great Resignation, the...
Tags: Talent
Digital Transformation Acceleration Relies on Core Systems
In today’s digital-first environment, insurance companies absolutely need state-of-the-art systems to support every aspect of their businesses. These core systems that support policy, billing, and claims functions have been foundational to the digital transformation of insurers and MGAs for years and continue to accelerate their transformation journeys today.
It’s Time for Insurers to Reimagine the Digital Payment Experience
What makes a true digital payment experience in insurance? Although the past few years have been characterized by rapid digital payment options, the real game-changer has been the focus of market leaders to embrace the transformation of the actual payment experience – both for premium and claim payments.
Tags: Claims, Payments
2022 Channel Strategies: P&C Agencies are Ready to Break from the Status Quo
The distribution landscape is evolving, and retail agencies and brokers are rethinking their channel partner strategies just as carriers and others across the distribution landscape do the same. Although carriers will always remain underwriting partners, more agencies are exploring new channel partners in the distribution ecosystem to ultimately reach customers...