Claims 2021 Planning: Are You Placing the Right Bets?
It’s planning season – at least in most insurance companies. It is time to take out the 2020 budget and see where line items need to move for next year. Did the claims organization meet objectives? If not, what adjustments need to be made to ensure those objectives are fulfilled?...
Reflections on InsurTech and the Pandemic
Much has already been written about the implications of the pandemic, the related economic activity, and how they will affect the InsurTech movement. As usual, there are a wide range of opinions. Will InsurTech be one of the casualties of COVID-19? Or will the dramatic change to work and life...
Transformational Technologies in P&C During the COVID Era
Technologies like machine learning, the IoT, RPA, and Natural Language Processing (NLP) were hot topics in P&C insurance before the world was turned upside down in 2020 due to the pandemic. These and many other “transformational” technologies have great potential for insurers in the rethinking and optimization of distribution, underwriting,...
New Digital Communications in Insurance: Options for Prospects, Producers, and Policyholders
The options for digital communications keep expanding. Insurer’s mobile interactions with prospects, producers, and policyholders have become common, while methods like e-mail, web portals, and even fax are extensively used. Now, there is a whole new world of messaging platforms, chatbots, business texting, voice assistants, and more.
Payments at the Speed of Light
What is the saying old saying? Moving faster than the speed of light? This would be the desired state for many policyholders and claimants, but it is not the current state of inbound and outbound payments processed in insurance today.
What Would Your Underwriters Say?
You believe your culture is pretty darn good, and your systems, while not perfect, are improving … but what would your underwriters say?
3 “Must Have” Digital Investments for P&C Insurers
Disasters – such as pandemics – have a way of revealing the need for change. That’s why digital transformation has advanced five years in about eight weeks. Businesses of all sizes have embraced digital sales and service, and, due to lockdowns, just about everyone has experienced the increased need for...
Cooking Up Change … A Recipe for Underwriting Transformation
The world is changing fast. And commercial insurance fills an increasingly important need in our world by creating predictability out of uncertainty and helping businesses of all sizes navigate this turbulent time. This insurance model enables businesses to continue to participate in the economy; fulfill product and service needs; keep...
Biggest Insurance Disruptor: Lemonade or Tesla?
I’ve never been a big fan of the term disruption. I believe that in the InsurTech world, a majority of the startups are partnering with incumbents to enable industry transformation. They are catalysts for change, to be sure. But few are truly turning the industry on its head.
Digital Communications in Insurance: Managing the Expanding Options
Most P&C insurers have gradually expanded their options for digitally communicating with prospects, policyholders, producers, and employees. As the industry moves beyond the web, portals, and email, there is a growing recognition that a whole new world of digital communications options can be applied in insurance.
