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.
Strategic Planning for Insurance in the COVID-19 Era
No one will mistake 2020 for just another year. The turmoil caused by the pandemic, lockdowns, and social unrest is unlike any other year. Businesses, individuals, and governments have all been forced to make dramatic changes and adapt to new realities.
Digital Outbound Payments: Reaching the Peak of the Summer Heat Index!
The hot temperatures of summer are kicking in around the US, and we can see that it is not just the outside temperatures that are escalating. As we take the temperature of digital transformation in the market, there is one area that is quickly rising from “warm” to “red hot.”...
The New Era of Geocoding: The Key to Advantage in Property Underwriting
In the real estate market, it is often said that the three most important factors are location, location, and location. A similar argument could be made for insurance property underwriting. Of course, the attributes of the property itself are important – and there is a lot of buzz in the...
InsurTech Distribution – The New Frontier – Again!
Compiling a list of the Top 50 InsurTechs (as was done at SMA in the April 2020 timeframe) is an interesting process. First off, you quickly realize that there are an amazing number of InsurTechs with meaningful value propositions that are on the path to success.
P&C Tech Plans and COVID-19: The Good, The Bad, and the Ugly (but Mostly Good)
P&C insurers are staying the course when it comes to their original digital and technology plans and investments for 2020. Many insurers report no changes to their plans, with some reshaping and a few accelerating, but very few pausing or retrenching.
The Growing Case (and Opportunity) for Insurance Coverage Transparency
Sadly, the insurance-focused news outlets are starting to overflow with references to who is suing whom over certain types of coverage related to the COVID-19 pandemic. There is a growing regulatory and legislative outcry for the insurance industry to pay out in instances where there is no specified coverage or...
