Let us dissect it. Really, What Is Renters Insurance? Renters insurance is an inexpensive policy that covers your personal property, liability (should someone be injured at your home), and living expenses in the event that a covered event, such as a fire or water damage, renders your rental uninhabitable. Usually, it consists of: Personal property …
However, you may be posing a more sensible query if you have ever looked at a 30-page policy paperwork and wondered what half of the phrases mean: Will AI genuinely make insurance easier and more affordable, or just a lot more ambiguous? The solution? A bit of each. Let us dissect it. The Good News: …
Insurance companies are investing heavily in AI across the board. They are updating their tech stacks for the cloud, establishing data lakes, and experimenting with analytics that are intended to prevent, forecast, and customize. And it is kind of paying off. That figure is predicted to quadruple by 2024. More encouraging still? According to …
The Chief Customer Officer at Cambridge Mobile Telematics, David Morse, joins Abbey Compton and me in this week’s Insurance News Analysis. Together, we explore how telematics data is subtly changing the insurance value chain from top to bottom, going beyond simply lowering premiums. From a Pricing Lever to a Tool for Strategic Power Historically, telematics—think …
These awards have become more than just a platform for trophies since 2016. They now serve as a springboard for significant transformation. They feature insurtechs and insurers who are not satisfied with the current status quo and have the guts to reconsider how insurance functions in people’s lives. And the patterns for this year? They …
One is a 134-year-old behemoth with a long history and a global presence. The other is an innovator in the digital space who is hardly old enough to recall the days before Netflix. However, Allianz and Lemonade are subtly demonstrating the same thing: open insurance is not only feasible, but also effective. Here’s how two …
This is more than simply a party. It is an open discussion regarding the progress made in the insurance sector toward gender equality and the progress that remains. There is talent. What, therefore, is preventing women? The problem is not getting women to work in insurance. Talent abounds in the pipeline. What follows—or rather, what …
Strategic segmentation goes deeper than typical segmentation techniques, which depend on superficial indicators like claim value, source of loss, or line of business. It takes into account a claim’s entire context and changing nature, including its seriousness, complexity, escalation risk, and even potential to help with better underwriting and pricing decisions. In short, it is …
This initiative is urgent, not just timely. Rethinking Insurance Inclusion: The BIIC The BIIC was established in order to draw attention to, assist, and address the particular difficulties that Black professionals in the insurance sector confront. It is a place for dialogue, strategy, transformation, and mentoring. Additionally, it is for the advancement of the business …
We have moved from in-person agent meetings to digital-first platforms, from yearly renewals to real-time coverage triggers, during the last 20 years. A new generation of empowered customers is now on the rise; they are willing to trade their digital footprints for improved service, are fluent in data, and expect customisation. These changes are not …