The insurance industry is experiencing a growing talent shortage. While this challenge has been anticipated, much of the discussion on solutions is often generalized to the entire workforce. But not every job will be impacted in the same way. As insurers grow, some functions will need more support, while others will be better primed to … Read more
Consumer skepticism about the connection between credit history and future insurance claims appears to decline when the predictive power of credit-based insurance scores is explained to them, a recent study by the Insurance Research Council (IRC) suggests. This is just one of the IRC’s encouraging findings. Others include: Consumers are generally knowledgeable about credit, credit … Read more
This year’s report tracks property exposures and losses through long-term claims data for the period between 2015 and 2021. The data represents between 88 million to 91 million homes across all 50 states and Washington DC, showing trends by peril for severity, frequency, and location. “The biggest takeaway might be that we seemed to have … Read more
Insurance safeguards your business, family, and personal welfare in case something bad happens. And most would agree that the worst event that can occur is the loss of life. Having insurance policies in place that can protect your employees, their families, and your business at these unfortunate times can become a little solace in a … Read more
Within the insurance industry, we understand that in order to remain relevant and retain market share we need to be agile, innovative and adopt new technologies. From a technical point of view, this means that insurers need to be able to adapt their enterprise architecture quickly and sustainably in order to reinvent themselves and grow. … Read more
The adjuster is not on your side! The larger your personal injury claim, the more likely the adjuster contacting you will be nice and friendly. The smaller your claim appears to be to them, the more likely they may be rude and abrupt. Suppose an insurance company perceives that they have a significant loss exposure. … Read more
Are you a college student (or a graduate student) looking for inexpensive health insurance options? Maybe you’re going off to college for the first time, or maybe you’re an older student who no longer gets healthcare under your parent’s insurance? If so, this guide outlines what your options are, and when you should consider these … Read more
Being an independent consultant has taught you to handle employment-related things on your own. Even if you have just recently decided to cut ties with the corporate world, you must be prepared for the challenges of being self-employed. You have to take care of your business growth, financial stability, taxes, and even retirement plan. And … Read more
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
A former insurance agent has been arrested for allegedly taking part in a scheme that saw him steal multiple victims’ identities in order to open a “fraudulent insurance agency”, the California Department of Insurance said on Thursday (August 18). Francis Okyere, 70, was previously licensed as an insurance agent in Westlake Village. He is also … Read more