Five Insurance Industry Developments
Do you recall when insurance was slow to change? Those days are gone. Here are five industry developments to watch.
1. Amazon poised to disrupt financial services
Bain & Co. found that more than half of U.S. respondents "are willing to buy financial services from established tech…
Building Codes Relax Despite Hurricane-Related Insurance Losses
In an earlier post, we took a square look at this year's hurricane season (which is slated to be as bad as last year's, if not worse). We also looked at why severe weather events are becoming more common these days, and what that means for insurers, broadly speaking.
It’s Official. Silvervine 6.0 Has Arrived.
Have you heard? In 2017, Silvervine quietly rolled out and tested the most innovative version of it policy administration system yet: Silvervine 6.0.
This mid-market solution takes everything that customers loved about 4.0 to the next level. The first thing you’ll notice is the…
2018 Hurricane Season Predictions: 5 Insurance Takeaways
Hurricane season is going to be a doozy – just like last year, experts say. According to scientist David Dilley at Global Weather Oscillations, the hurricanes we see this season will be "somewhat of a repeat" of last year. In case one is inclined to forget, the Atlantic storms of…
Can Smartphones Prevent Auto Insurance Claims?
Distracted driving is a major cause of auto collisions – something the National Safety Council has been talking about for quite a while. Despite the publicity, the problem isn't going away. It's getting worse.
Recently, Zendrive published a study – titled simply "The Largest…
How is Leading an Insurance Company Like Leading a Tech Startup?
When is an insurance company not just an insurance company? When it's also a tech company.
Last November, Oliver Bäte, the CEO of the German insurer Allianz, said that his company considers itself just that. “We are actually a technology company," Bäte said, because his…
The Insurance Implications of Driverless Car Fatalities
This month in Arizona, a self-driving Uber car killed 49-year-old Elaine Herzberg, who was walking her bike across an empty street late in the evening. It was the first pedestrian fatality to be caused by an autonomous vehicle.
What went wrong? While there was an operator behind…
The Hidden Opportunity of Insurance Pricing Inequity
Is auto insurance accessible and affordable for lower- and middle-income Americans? Not according to this study by the Consumer Federation of America – yet there’s a powerful business opportunity hiding in the research. Let’s learn more.
Is basic liability unaffordable?
4 Ways Blockchain May Benefit Insurance
What’s blockchain? According to Haden Kirkpatrick at IoT Agenda, it's just a "relatively new concept making waves across the tech scene," which "could revolutionize the way we buy and pay for insurance."
We tend to agree. Let's explore the possibilities.
How does blockchain…
How Smart Speakers May Revolutionize P&C Insurance Service
Could you be using smart speakers to expand and improve the service you provide to customers? According to Andrew Lo in an article at Insurance Thought Leadership, yes you could – and indeed, you should.
In fact, insurers in Canada have been doing just this since last summer.…
What’s New in Insurance Claims Innovation?
Just like the rest of the P&C insurance industry, the world of claims is rapidly evolving. Here’s a quick look at recent insurance claims developments.
Reconsider contents restoration
Contents restoration has been a sticky issue for many insurers, because cleaning and restoring…
The Complex Challenge of Cyber Security for Connected Cars
Last week, we looked at how crucial security is for the connected car industry, given the risks involved. We also examined whether complete security is, in fact, an achievable goal. In today’s follow-up post, we’ll take a square look at how why cyber security for connected cars…