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Can Raising Customer Expectations Be a Winning Formula for Insurers

Simpless221 Nov, 2021Business

Insurers have built their business models around being the experts when it comes to risks, their causes, and their effects. Coverage was built around this insight and consumers accepted that their insurance providers knew best.Coverage was built around this insight and consumers accepted that their insurance providers knew best.

Big Fish Alternatives in P&C Insurance Core Systems

Simpless221 Nov, 2021Business

The insurance sector today looks like it?s on the same path of transformation that the financial industry was on a few years ago. When fintech startups first started to blossom, many predicted that they would have a disruptive effect on the traditional models of long-standing financial companies.

Impact of Covid-19 On Insurance Budgets and Investments

Simpless218 Nov, 2021Business

Insurance is built around calculated risk, but even the most diligent of analysts cannot anticipate certain events. The Covid-19 pandemic completely reshaped ?Business as Usual. As insurers come back to the office, they can take a pat on their back for how they have risen up to the challenge - some better than others.

Brain vs Bot: Does RPA in Insurance Need Intelligent Automation

Simpless218 Nov, 2021Business

It is a well-recognized fact that the insurance workforce spends an average of 15% of their time on repetitive tasks. While these are pretty important tasks, such as manual underwriting or customer database updates.It is a well-recognized fact that the insurance workforce spends an average of 15% of their time on repetitive tasks. While these are pretty important tasks, such as manual underwriting or customer database updates.

Cybersecurity for Insurance Companies: Is Risk Minimized in the Cloud

Simpless218 Nov, 2021Business

The traditional cat and mouse game between insurance carriers and hackers have now advanced to a new level. A report published by Ernest & Young puts 2020 into the spotlight as the year which saw an unprecedented rise in the number of cybersecurity attacks on businesses.

5 Examples of IoT Applications Powering Insurance in America

Simpless218 Nov, 2021Business

Is there an insurance carrier in the US that is not in the midst of a digital transformation? The risk of falling behind in an economic environment constantly evolving through new disruptive technologies is very real.Is there an insurance carrier in the US that is not in the midst of a digital transformation? The risk of falling behind in an economic environment constantly evolving through new disruptive technologies is very real.

Why Insurance Ecosystems Have Taken on New Urgency

Simpless217 Nov, 2021Business

Insurance companies have been increasingly compelled to develop an outside-in strategy. Companies are no longer distinguished just by the strength of their products, but also by the superiority of the customer experience they offer.Insurance companies have been increasingly compelled to develop an outside-in strategy. Companies are no longer distinguished just by the strength of their products, but also by the superiority of the customer experience they offer.

5 Myths of Insurance Technology Modernization That Could Trip You Up

Simpless217 Nov, 2021Business

Technology modernization? is a phrase that has been coveted and dreaded in equal parts by insurance companies. On the face of it, insurance digital transformation implies moving away from outdated legacy software to agile cloud-based systems.. Technology modernization? is a phrase that has been coveted and dreaded in equal parts by insurance companies. On the face of it, insurance digital transformation implies moving away from outdated legacy software to agile cloud-based systems..

Dynamic Pricing in Insurance Using AI and Predictive Analytics

Simpless217 Nov, 2021Business

Turn on a football game and there are at least 5 insurance companies trying to get their products to be ?top of the mind? for the same customer. For instance, Progressive spent $1.9 billion on advertising in 2020, Geico spent an estimated $2.26 billion.