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New Vehicle Tech Reduces Some Risks While Creating Others
Many advancements in vehicle tech over the past years have been inspired by safety. For example, proponents of self-driving cars say they have the potential to prevent collisions by reducing human error, which causes 94 percent of fatalities, according to NHTSA. A study by General Motors and UMTRI found that some automated safety features, such […]
Continue readingUnprecedented Wildfires: How to Underwrite the New Normal
Let’s talk about California. More specifically, let’s talk about the rising risk of wildfire. You probably already know that when it comes to catastrophic fires, California has suffered some of the greatest losses in our nation’s history. But wildfires are not just a California problem: the rising risks range much further afield. So, what can […]
Continue readingThree Must-Dos When Marketing Insurance to Gen Z
Kids these days … might surprise you. Never mind the stereotypes – and yes, let’s skip the part where we used to walk to school uphill both ways. As America prepares for another major generational transition, let’s take a look at who’s waiting in the wings, and how insurers can serve them best. Who is […]
Continue readingSix Tips to Enhance Online Experience for Insurance Customers
When people are shopping online for insurance products, they’re not just making decisions about your products. They’re also making decisions about your website. According to a recent LIMRA survey, insurance customers “expect their online experiences with agents and financial services companies to match their other online retail experiences.” In other words, if you want to […]
Continue readingShould You Insure Cannabis Companies?
Cannabis is growing in America – and so is the consumption of it. As the demand for dispensaries continues to rise, what are the risks for insurers? Let’s review the pros and cons. Cannabis is becoming more and more common According to the information resource Leafly, cannabis products are now legal to sell and consume […]
Continue readingVehicle Innovation: 3 Intriguing Developments
Automatic braking, lane control, backup cameras … we’re all familiar with vehicle innovations such as these. But what about the lesser-known developments in vehicle technology? What other innovations are brewing out there right now? Here are three contenders. Generate power with your tires Your tires create friction as they move over the pavement at high […]
Continue readingEverything You Need to Know about Offering a P&C Policyholder App
There are a lot of good reasons to offer your policyholders an app. Then again, there are a lot of good questions, too. To help you navigate that, we’ve put together a lightning-fast Q&A. Let’s dig in. Q. What’s so great about an insurance app? A. “The words ‘cool’ and ‘insurance’ are not often words […]
Continue readingWhat’s Happening in Telematics? News Roundup
It’s that time again! Let’s look at what’s new in the world of telematics. 1. At last, GEICO joins the telematics wave. The giant was holding out. But those days are over. GEICO saw that a major competitor that embraced usage-based insurance had “a significant advantage on the loss ratio side,” Insurance Journal said, and […]
Continue reading7 Rules for Scaling Policyholder Satisfaction
It’s impossible to talk about policyholder satisfaction without acknowledging how much the game has changed in the past 15 years. With the youngest Millennials in their mid-twenties and the oldest nearing their forties, we all know that it takes more than a logo to hold onto your customers. That’s as true in insurance as anywhere […]
Continue readingThe Future of Insurance: The Parametric Approach
Parametric insurance is all about parameters. To borrow from CRC Group President Garrett Koehn, it’s “if this, then that” insurance – and it’s about to get big. How does it work? Koehn gave this example: let’s say you live in Houston, and you have a parametric policy providing $5,000 in benefits should you experience a […]
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