The Doctors Company determined that social inflation is a key driver of higher medical malpractice insurance rates.
The insurance policy phrase "direct physical loss of or damage to" has been in the news the past few years thanks to BI cases stemming from the pandemic.
One suggestion: Shift focus from being an industry that primarily detects and repairs to one that predicts and prevents.
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The customer experience has become a primary driver for both attracting new customers and retaining existing policyholders. As the customer experience becomes entirely digital, this is where insurance providers need to differentiate themselves from the pack. Discover how carriers can sell more online, improve servicing speed and satisfaction, and empower agents to place more business.
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