If your company is plagued by legacy insurance software, it's time for an update. But buying decisions aren't always easy. That's why, in our Buyer's Guide to P&C insurance software, we walk you through the decision-making process. You'll learn to:
Improve efficiency. Speed up claims. Reduce operational costs. Deliver a better customer experience. With the right insurance software, you can do all this and more. Download part 1 of our Buyer's Guide today.
The P&C insurance industry is changing fast. So how do you stay on the leading edge? How do you recognize lucrative opportunities a long way off, and capitalize on them as soon as they're within reach? How do you maintain your position — and build momentum at the same time?
That's just what we're about to show you. Download our Momentum brochure to discover how the right insurance software can help acheive your goals.
Silvervine is owned by Volaris, a company that believes in a culture of learning and sharing, best practices, decentralization, and accountability. All Volaris businesses are run autonomously so they can stay close to their clients and offer true differentiation. Volaris is owned by Constellation Software, an international leader that serves more than 125,000 customers in roughly 100 vertical markets.
At Silvervine, you get the best of both worlds: the service you'd expect from a small company – backed by the strength and financial stability of global software leaders.
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…Full Story
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.
Now let's…Full Story
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…Full Story
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…Full Story
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…Full Story
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…Full Story
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…Full Story
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?
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…Full Story
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.…Full Story
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…Full Story
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…Full Story
The FedNat Insured Web is a great tool for our insureds!
They like having a centralized location to view policy info, make payments, upload policy documents, and elect to become paperless to receive a discount.
The insureds also can file a First Notice of Loss for a claim and access exiting claim info. Silvervine recently enhanced the site which allows insureds to upload policy documents directly to their policy. The uploaded docs go directly into our workflows and save a lot of manual effort on our part.
From my visits with agents, the agents appreciate the app for the amount of time saved on having to download and attach photos directly to the policy.
The app can also reduce the amount of staff required for a busy office to fulfill underwriting requests for photos.
When training agents they are amazed at how quickly the photos attach directly to the policy. After taking photos using the app and before they make it back to their desk, the photo is already attached to the policy. They also like the ability to attach additional photos for pre-existing damage.
Customer Service is seeing an improvement with retention as the text message definitely triggers phone calls from insureds to make payments.
The insureds love the fact that we notify them on their phones because they state that sometimes they don’t receive their mail for various reasons.
The insureds are paying more attention to the texts then to their actual mail. We try to set all of our customers up on that option if we notice that they are not currently enrolled, as it builds great customer relations as well as retention.
As a company we have adopted the use of Policy Scan for all our policies, and our agents have adopted the use of the app as well.
Not only is it easy to use, there is also no more worrying about losing photos, having to store photos or photos being attached to the wrong policy.
With Policy Scan we have increased efficiency in our workflow and reduced our exposure on the risk.
Silvervine’s core administration solutions easily handles multiple carriers within multiple states, including accounting, payment processing, immediate policy issuance and endorsements.
What started out writing one product, one line in one state has now grown into mulitple products, multiple lines and writing in multiple states. We have over $95 million in annualized premium in-force and we expect to grow by 20% during the next year all serviced by Silvervine.
Silvervine was our insurance software system of choice when we started the company in 2006. Silvervine enabled us to begin business within a few months of licensing the company. Today, we are one of the top 20 homeowner’s writers in Texas and SIlvervine’s solutions have been an integral part of our success.