Agents must prepare for a changing insurance world, focusing more on sales and advisory roles and less on simply moving information from consumers to insurers, according to an industry analyst.
The last year didn't exactly deliver a rebound for insurers, but there are plenty of reasons for hope in 2010. Carriers are continuing to invest in technology that will allow them to begin a new chapter of growth.
Most insurance companies went into survival mode in 2009 to get through the economic collapse. Many turned to innovative technology measures to boost business.
There's little doubt in Steve Boyd's mind that 2009 was a year that called for turning to insurance technology to help ride through the storm.
In the insurance business--as in any business--if you're not growing, you're dying. Growth requires "new"--new products, new markets, and new customers.
Once upon a time when I was an underwriter, my manager was fond of telling me we didn't sell a product, we sold a promise. And at a high level, he was entirely correct.
Last year was one of the costliest years for insurers in history, with record-setting Atlantic hurricane losses amounting to $43 billion, as well as man-made catastrophic disasters culminating at $7 billion -- nearly double the annual averages from 2007.
Predictive analytics empowers claim handlers, underwriters, insurance brokers, customer service representatives, and others with the predictive insight to create value from underutilized data to improve customer interactions.
When it comes to its qualities as a buzz term, Software as a Service (SaaS) has a lot going for it. Unlike "SOA," there's only one way to pronounce it, and unlike "cloud," both business and IT
At a fundamental level, every auto insurer calculates premium exactly the same way: rate times exposure. But beyond that simple formula are differences as numerous as there are auto insurers, with eac