Selling Insurance Direct-to-Consumer: The Product Impact
We’ve already seen how selling insurance direct-to-consumer will impact the distribution model and the role of agents and brokers; it will also bring about some profound changes in insurance products. More delivery models According to Insurance Governance Leadership Network (IGLN) research, the methods of delivery will splinter insurance products into several types: do it for […]
Continue readingFrom Art to Science: New Uses for Insurance Data
According to Best’s Review, a recent “explosion” of analytics advancements is “shifting underwriting from an art to a science.” In terms of risk, we’re talking better visibility and better predictions. But there is a little thunder behind this silver lining: over-reliance on digital tools presents a problem, and privacy concerns persist. With that in mind, […]
Continue readingKey Takeaways from the Q1 InsurTech Briefing
No one wants to get left behind. To keep an edge over the competition, you need to know what the competition is doing. The Q1 InsurTech Briefing from Willis Towers Watson provides valuable information on the state of InsurTech and the future of insurance. Here are some key takeaways. Risk gets specific. Telematics and usage-based […]
Continue readingCan Your Payment Platform Execute on THESE Insurance Business Rules?
In a recent post, we covered how important it is to find a Payment Services partner who’s not just an expert in payments, but in the business of insurance, too. There are so many transactional scenarios in our industry that require specific business rules that can be configured to knife-sharp precision. In insurance, one size […]
Continue readingChatbots Work … But Are They Working for Insurance?
Chatbots – the automated computer systems that use artificial intelligence to dialogue with customers in real time – are on the rise. And for good reason: chatbots bring a lot of advantages, both for the insurer and the customer, as we’ll see below. But are there limits to what chatbots can do for you? Sure […]
Continue readingNew Report Reveals How Insurance Carriers Can Keep Agents Productive
It might be true that money can’t buy happiness – but a lack of happiness can cost your company money. If your agents aren’t satisfied, your company can suffer. While there is a lot of interest in direct-to-consumer sales, independent insurance agents and brokers still control a majority of the P&C market, writing nearly 35% […]
Continue readingCan Driver’s Ed Improve the Safety of Autonomous Cars?
Self-driving cars run on highly advanced tech, with systems so complex, you can truly call them intelligent. But when the intelligence of the car makes it impossible to know exactly what it’s thinking, how can we be sure it will make the right choices on the road? How can we guarantee it will operate safely? […]
Continue readingWhy Industry Expertise Matters in Insurance Premium Collection
In the wide world of payment services, one of the most specialized areas to operate in is insurance. Any company facilitating transactions in this space has to know their own business, of course, but they also need to know the business of insurance, too – and as we know, that’s no simple matter. Small details, […]
Continue readingInsurers, Let’s Create A World Without Drunk Driving
Imagine a world without drunk driving. Imagine a world in which 29 people a day get to live instead of die – in which, every 50 minutes, a loved one’s funeral doesn’t need to be planned. Imagine an economy with $44 billion saved, because alcohol-related crashes have not incurred those costs. According to the CDC, […]
Continue readingHow the Right Payment Partner Can Help Your Company Grow
A payment processor can help your insurance organization accept electronic payments. That’s an important capability in the age of the internet, when more and more people prefer to pay their bills online. However, the potential benefits of a payment processor don’t end there. The right payment processor can actually help your company grow. Take control […]
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