New Technology
Major Trends Shaping Automated Claims Management
The Internet of Things (IoT). Artificial Intelligence (AI). Machine Learning. Drones. These are some of the huge trends that are impacting claims management for providers today, but which will soon collectively transform the world of insurance claims. The Internet of…
#1 Deadly Sin of P&C Policy Admin
The property and casualty (P&C) insurance business has NEVER been more complicated than it is today – new and exciting insuretech is flooding the market; customers demand the instantaneous, personalized and digital service they receive across all other verticals; carriers’…
The Tremendous Potential of Automated Claims
Property and casualty (P&C) providers are working hard to automate claims or make them touchless to increase efficiency and generate cost savings. This enhanced efficiency allows insurers to make claim resolutions faster, improving customer service. Better service means that insureds,…
8 Cyber Insurance Challenges
Insurers working to provide their customers with adequate cyber coverage must overcome a slew of challenges. Here are eight of the most formidable: Lack of Historical Data While insurers writing policies for flood insurance, for example, can draw on a…
Additional Main Benefits of Cloud Computing and Managed Services for Insurers
My previous blog post detailed three advantages of cloud computing and managed services for insurers. Here are two more important benefits. Optimized Risk Management and Disaster Recovery Using cloud computing insurers can help manage risk and fraud, as well as…
Insurers Are Vulnerable to Cyber Attacks
Hackers are tempted to perpetrate cyber attacks against insurers and such attacks have the potential to be devastating…insurers are vulnerable. The Lure of Customer Data and the Sheer Volume of Attacks Insurers store massive amounts of data in cloud-based systems,…
Main Benefits of Cloud Computing and Managed Services for Insurers
While concerns do exist over some areas of the cloud, such as security, the advantages are overwhelming. Surveys have shown a drop in these concerns as use of the cloud becomes more widespread and expertise in all areas is on…
Only 20% of Insurance CEOs Feel Prepared for Cyber Attacks
Before insurers can offer effective coverage to their own customers, they must ensure that their own cyber security is up to the task. If they are vulnerable, their reputation as an expert in the field of cyber security insurance will…
Insurers are Targets for Cyber Hackers
An insurance provider in the EMEA region experienced every insurer’s worst nightmare in June 2018. Hackers illegally entered the company’s information-technology infrastructure, accessed customer emails and demanded ransom. News of this breach resulted in an immediate drop in the stock…
Cloud Computing and Managed Services for Insurers
Challenges Facing Today’s Insurers Insurers are not unique among businesses in the world in facing significant challenges. They’re constantly looking for new ways to reduce costs, drive revenue, improve collaboration, offer value to their customers and reduce time to market…
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