Getting it right: Why is claims satisfaction so high? | Insurance Blog

An insurance claim comes at a stressful time in a customer’s life, often making it a negative experience. At least, that’s what you might assume. That’s why I was surprised when our latest research report, Why AI in Insurance Claims and Underwriting,   Speed of settlement drives claims satisfaction in insurance Overall, our survey found that … Read more

Insurance News: How AI is enabling the future workforce | Insurance Blog

The insurance industry continues to cope with an aging workforce and with the impacts of the Great Resignation. To fill the resource gaps, carriers are increasingly turning to collaborative robots, or cobots, to help train and retain younger workers.  In this Insurance News Analysis, we were delighted to welcome Matt Coughlin, Founder & CEO of … Read more

Embedded insurance: a brief overview | Insurance Blog

Embedded insurance is currently a red-hot topic in the industry. It has permeated many of our recent conversations as clients evaluate how embedded currently impacts—or could impact—their distribution plans. The sense of urgency is compounded by disruptor companies like Tesla throwing their hat, in a meaningful way, into the insurance ring.  Some recent perspectives on … Read more

Why California shouldn’t bail out the home insurance industry

Insurance companies collected more than $150 billion in premiums from California homeowners over the last 25 years and enjoyed profits at four times the national average. Now they’re demanding an unprecedented bailout from the California Legislature as the price of continuing to do business here in the wake of wildfire losses. Industry lobbyists are reportedly … Read more

Maximizing investment in policy administration systems | Insurance Blog

Today’s cloud-based policy administration systems (PAS) are designed to enable both P&C and Life insurers to manage policies through their entire lifecycle and are the foundation of carriers’ digital strategies. These types of platforms are a boon to carriers looking for ways to enhance their customer relationships and develop more effective offerings but many carriers … Read more

Resilience inspires optimism in the insurance industry | Insurance Blog

Despite continuing market volatility and uncertainty, we are fundamentally optimistic about the future of the insurance industry, which has demonstrated resilience through the pandemic and in the face of inflation, losses, and reserve capital requirement headwinds.  As COVID-19 became a global pandemic in March 2020, the resulting economic slowdown caused insurance industry valuations to drop … Read more

Insurance lingo 101: Hilariously complex jargon made simple

If you’ve ever tried reading an insurance document and felt like you stumbled into an advanced Latin class, you’re not alone! Insurance lingo can be tricky, with words that sound like they belong in a medieval spell book. But fret not, brave reader. We’ve delved into the whimsical world of King Price’s dictionary to decode … Read more

How sustainability and workforce transformation inspire innovation | Insurance Blog

The recent 2022 Qorus-Accenture Innovation in Insurance Awards are a powerful, practical illustration of the trends shaping the insurance industry. Sustainability and workforce transformation are becoming central to insurers for retaining relevance in a changing market. Insurers need to embed sustainability into their strategy and value proposition, and they have to embrace workforce transformation in … Read more