[ad_1] One of the most significant drawbacks is the loss of productivity that ensues. When the CRM doesn’t communicate effectively with email clients, accounting software, or marketing automation tools, employees are forced to engage in redundant data entry across multiple platforms manually. This not only wastes valuable time but also increases the risk of errors, … Read more
[ad_1] Generative AI (GenAI) has the potential to transform the insurance industry by providing underwriters with valuable insights in the areas of 1) risk controls, 2) building & location details and 3) insured operations. This technology can help underwriters identify more value in the submission process and make better quality, more profitable underwriting decisions. Increased … Read more
[ad_1] By Jon Coppelman Audits used to be relatively simple: estimated payrolls were updated with year-end actuals and independent contractors were checked for certificates of insurance. Class codes were rarely checked for accuracy. It’s not that simple anymore. Two fundamental issues are frequently arising in audits: determining whether independent contractors are indeed independent, and monitoring … Read more
[ad_1] The decision to initiate a Guidewire cloud migration should not be made lightly. Like any key decision in life, it is best to find experts, so not to incur potentially large expenditures in the future to fix a poor implementation. Between the financial investment, the large and potentially unknown risks, and the career implications … Read more
[ad_1] In today’s competitive insurance industry, providing exceptional insurance customer experience is not just a goal; it’s a necessity for long-term success. The insurance landscape is evolving rapidly, driven by technological advancements, changing demographics, and shifting customer service expectations. Success in the insurance industry is undeniably linked to the quality of the insurance customer experience. … Read more
[ad_1] In a context of ongoing disruption, insurers are being called to reinvent themselves. In order to transform on an operational level, insurers need to move from complexity to simplicity. This alone is a daunting task. Composable architecture helps insurers to simplify this complexity at every step of the insurance value-chain, often using processes already … Read more
[ad_1] In the ever-evolving landscape of the insurance industry, staying ahead of the curve is no longer an option—it’s a necessity. The insurance sector, once known for its conservative approach, is now embracing the digital age with open arms. By embracing innovation, insurance companies are rewriting the rules, and the stakes have never been higher. … Read more
[ad_1] The insurance industry, particularly Property and Casualty (P&C) insurance, has embarked on an exhilarating journey of transformation. No longer confined to traditional practices, the P&C insurance landscape is now a playground of innovation, disruption, and reinvention. As a player in this dynamic field, keeping your finger on the pulse of trends is not just … Read more
[ad_1] Competitive pressure, increased capital availability (even with current rates), and the evolving business landscape (thanks in part to the pandemic) have created an opportunity for independent insurance agents (IAs) to get creative to grow and remain independent in the insurance industry. As such, many IAs have sought out agency networks that provide benefits historically … Read more
[ad_1] Life insurance stands on the cusp of a new chapter in reinvention. Until now, insurers have been gradually moving forward with wide-scale digital transformation. But with the impacts of AI, including generative AI, change is coming fast. We’re in a vibrant new year, and life insurers are starting to accelerate and implement their reinvention … Read more