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Leading insurers are already implementing digital engagement solutions for policyholder support and risk management. By leveraging “digital first” technology for the agent portal, carriers can streamline complex processes, provide faster, more immediate agent support and help them to write more business. With advanced technology, carriers can go a step further to build a deeper trust and stronger brand loyalty while helping agents to sell more and increase the annual premium.

Download this white paper and learn about:

• The changing role of the agent portal
• The independent agent perspective on customers & agent portals
• The digital first concept
• Advanced digital customer service solutions
• Proactive agent engagement
• And more!

Many commercial auto insurance carriers underestimate true OCN, leading to lower premiums and an incomplete understanding of risk. In order to more accurately assess risk and mitigate financial challenges from underinsuring vehicles on the road, carriers must know whether a vehicle is complete or incomplete as well as the upgrades it has had (or at least be able to estimate them). 

Download this guide and learn how to glean valuable insights that help to reduce exposure and mitigate costly premium leakage. Topics discussed include:

• The difference between “complete” and “incomplete” commercial trucks
• Why relying solely on VIN to estimate OCN often results in premium leakage
• How much a final truck configuration can impact OCN
• Easy-to-implement tools that can provide  more accurate information
• And more!

As climate change increases the frequency and severity of natural disasters, many insurance carriers are seeking to move towards a proactive model, where risk is understood precisely and completely upfront. Through this, any changes that occur to a property over time, like the growth of a tree over a roof, the addition of solar panels or other items that result in underinsurance, are detected as they appear. This model allows the carrier to have the heart of a teacher, fostering a productive partnership between the insurer and the insured to reduce risk and premiums--so when the storm does come, you’re ready. 

Download the report and learn how you can reduce hurricane exposure risk. Topics discussed include:

• The rise in wind exposure & losses
• The best roof for high winds
• How skylights are affecting water risk
• Rise in underinsurance for solar panels, pools & trampolines
• Adaptation tips for insurers & insureds
• And more!

For the past several years, the LexisNexis® Risk Solutions Future of Claims study has kept you updated on the latest trends in claims processing and provided forward-looking insights on how the industry is progressing toward touchless claims. This study focuses on the acceleration in virtual claims processing over the past two years, driven in large part by the influence of the COVID-19 pandemic.

Key insights gleaned from what we heard from consumers and auto insurance executives include:

• Consumers are becoming more comfortable with virtual and self-service options and appreciate the benefits they offer.
• Carriers are influencing consumer attitudes toward automated claims processing by accelerating technology adoption.
• While consumers embrace automated processes in large part, their satisfaction with their claims experience declined slightly due to expectations based on experiences outside of the insurance industry.

The pandemic accelerated our journey toward touchless claims, and there’s no turning back. 

Learn more in our 2021 Future of Claims Study. 

There’s never been a better time to revolutionize your claims processes. Download this cheat sheet for 3 big bets on the process improvements that will revolutionize the claims customer experience, including:

• AI and virtual estimating that simplifies workflows

• Staff equipped to settle claims same-day

• The role of real-time and near real-time data

Insurers can no longer ignore the potential impact of social and related online data. Carriers must mitigate the risk of adverse selection as they compete with retail online buying experiences to drive customer engagement and satisfaction, as well as elevate their understanding of their policyholders. Add to all of this their ongoing quest for greater predictability of loss and it’s easy to see why the time is right for insurers to embrace the exciting opportunities that come with leveraging new and alternative data. 

Download this white paper and learn about the:

• Genesis of current third-party data trends
• Rise of alternative data
• Challenges in harnessing new data
• 4 applications for alternative data in insurance
• New way to drive insurance automation, underwriting efficiency & an enhanced customer experience

Supply shortages and higher material prices are raising insurer repair and replacement costs and increasing the severity of losses on insurance claims. Expenses are also escalating across the enterprise: interchange fee increases, rising labor costs and fuel price hikes are only adding to carriers’ financial pressures. To stay competitive, insurers need to lower loss ratios, increase revenue, reduce expenses and achieve operational efficiencies that improve customer experience. By leveraging next generation technologies, payment optimization and digital process transformation, insurers can significantly improve their loss ratios.

Access this on-demand webinar to:

• Discover how digital customer engagement improves customer retention
• Explore how network tokenization can help to increase revenue
• Learn how automating your billing system reconciliation workflow can improve operational efficiency, reduce administration expense & enhance customer experience
• Understand how digital claim payment can reduce cycle times & lower claim severity
• And more!

Hail losses have increased 30% over the last five-year period, resulting in $8.8 billion in total hail loss costs in 2020. As a result, some insurers may be putting damaged roofs on their books without realizing it. 

Insights from auto hail claims can be used to identify and predict roof risk. In fact, carriers can identify 10% of properties that will drive 34% of their losses using a combination of weather claims data and imagery analytics. Access this interactive eBook and find out how you can mitigate risk, reduce loss costs and improve segmentation; including how to:

• Get a holistic view of roof risk
• Focus on the highest risk
• Optimize inspection outcomes with predictive insights
• Boost profitability
• And more!

It’s no secret that your goal – no matter how you get there – is a more seamless claims experience for customers. An experience that makes your adjusters’ lives easier ranks as a top priority, too. Technologies are emerging every day that help create these digital-first experiences customers seek, and they’re powered by data. Download this guide and learn 4 tips for arriving at a seamless customer experience for claims, including how to:

• Streamline your workflow
• Make the most of automation
• Accelerate processing
• Provide human interactions when most critical
• And more!

The expectations of property claim customers have risen over the past decade. And according to J.D. Power’s 2022 U.S. Property Claims Satisfaction Study, homeowners who filed property insurance claims ranked satisfaction with their claims experience at an average of 871 on a 1,000-point scale—representing a five-year low point in the 14-year history of the annual survey.

Fortunately, there is a solution. Insurers who have access to a contractor managed repair program that has a technology ecosystem grounded in five components can not only solve their pain points, but they will also enhance the customer experience for their valued policyholders and team members.

Download this white paper and learn about: 

• The 5 critical components of a managed repair technology system
• How to determine if you should build or partner
• Keys to leveraging a managed repair ecosystem
• How to reduce costs & improve customer satisfaction
• And more!

P&C insurers have faced significant pressure to overcome large increases in claims for business interruption, workers' compensation and events cancellation insurance in the aftermath of COVID-19. The industry has responded soundly with innovative new products including use-based auto insurance, home cyber policies, new approaches to pandemic and climate change insurance and much more. But innovation is often accompanied by an increased need to help customers adapt to change.

This white paper reveals how digitizing your customer service can improve CSR confidence and customer satisfaction, and allow you to differentiate your organization as both an insurer and employer of choice. Download it now and learn about:

• What today’s customer interaction with insurance carriers looks like
• Why deploying a chat tool is not enough
• How a truly digital customer experience looks
• How you can put a personal touch on service
• The case for conversational AI in digital customer service
• How to tell if customer service is differentiating you in the market

Right now, your team probably uses an agency management system (AMS) for daily tasks. A service enablement tool enhances the AMS and allows your team to have higher-quality engagements with clients. Watch this video and learn about what one top agency experienced when they moved from an environment without a service enablement tool to an environment with one, including what it can do for an organization overall, how teams respond, and how it will:

• Create transparency in your service team
• Increase retention & ensure client satisfaction is off the charts
• Consistently get the desired result of your written processes
• Help your team prioritize & organize tasks into a pipeline
• Maximize efficiency & create a more profitable agency

The information-laden life insurance onboarding process can be tedious for new policyholders. It’s also a prime opportunity for fraudsters to garner valuable personal information that can put both clients and your company at risk. However, there are ways you can improve your digital experience to protect your policyholders and organization.  

Download this case study and learn how a leading carrier reduced onboarding friction and loss expectancy. Topics covered include:

• An overview of the situation and challenges of managing fraud while elevating the customer experience 
• Details on how the right digital identity platform helped them increase fraud capture rates and lower the need for manual review by 50%
• Tips for how your organization can also reduce onboarding friction and detect identity-related fraudulent behavior easily and seamlessly

According to experts, weathering and managing the COVID-19 pandemic included 3 key phases – respond, recover, and thrive. At this point, you’ve probably responded and recovered, so now is the time to thrive and grow. To do this, you must look at all the parts of your agency to pinpoint what is working, and what your business has outgrown and is now holding you back.

Download this eBook now to get three key strategies to reduce busy work for your team, giving you more time to close sales and build better relationships with clients. This includes:

• Examples of how to give your staff back time
• Tactics to simplify your business processes
• How to ensure you are where your clients need you to be

Agencies are best positioned for growth when their staff has the time to work with clients, find new business and close sales. Take steps now to make that happen.

You’ve likely considered “going digital,” but that often poses significant challenges in the form of a limited budget or a lack of employees to implement the transformation. Before taking the step forward, it’s crucial to understand your needs and goals. Only then can you prioritize what InsurTech should be top of mind.

Download this guide for a roadmap to help keep clients happy while boosting revenue and smashing roadblocks. The guide includes:

• How to overcome three common challenges
• Determining what should be on your list of must-have technologies 
• Ways to compare different tech options and what they need to do for you
• Tactics for staying easy to find and easy to do business with
• And more… 

Technology is key to your business and can help improve and enhance client relationships. Make sure you know how to stay on the cutting edge.

Changes in P&C consumer behavior toward digital demand will likely persist and grow in the coming years. Future-focused insurers have eliminated paper-based workflows and are investing in more robust digital payment platforms that drive a superior experience for customers, vendors and other third parties. Download this white paper and learn how to transform your operations by reducing costs, increasing security and optimizing customer experience when you pay attention to these trends in 2022:

• Customer centricity
• Low-code/no-code tools
• Data privacy protection
• Distribution management & agent experience
• Climate risk impact
• Human touch & technology balance
• And more!

Roof-related home insurance claims are accelerating in both frequency and severity due to factors such as extreme weather events and escalating roof repair and replacement costs. While there are numerous methods for determining roof condition, no one method alone gives you a complete view. By combining aerial imagery data with important claims-driven context, you can get a truer assessment of a roof’s condition and characteristics, better manage risk and improve your customers’ experience. 

Download this white paper and learn about how: 

• Roof-related losses are accelerating
• Current methods to assess roof condition don’t reveal the full story
• Aerial imagery can be taken to the next level
• Auto hail damage claims can provide clues to roof condition
• Better ways to determine true roof condition exist and how your organization can take advantage of them

Independent insurance agencies today face many challenges in an increasingly competitive and commoditized market, especially with technology startups continually posing challenges to the traditional agency model. In order to stand out, it’s important to first start with a solid foundation: put in place the technology and tools that will help you focus on remaining competitive and preparing for future growth. 

Download this eBook for three focus key areas which will help set your agency apart and grow your business. You will learn: 

• Effective strategies to retain existing customers
• How to identify new business opportunities with existing customers and prospects
• Ways to connect with customers with personalized communication

There is no denying that the far-reaching impacts of the pandemic are not yet fully lost from sight in the rearview mirror. The auto insurance industry continues to navigate the aftermath of pandemic-induced supply shortages, inflation and new driving behaviors.

In this year’s LexisNexis® Auto Insurance Trends Report, we explore the trends that put pressure on the auto insurance policy lifecycle throughout the previous year and share how insurance carriers can better navigate these market stressors moving forward.

Our 2022 Auto Insurance Trends Report shares insights about:

• Auto insurance shopping trends as influenced by the new macro environment
• The ripple effect of reduced car sales on the adoption of advanced driver assistance systems (ADAS)
• The rebound of miles driven and the impact of mileage data for assessing risk
• Consumer and insurer sentiments towards telematics usage and adoption
• Changes in driving behavior and other trends altering the violation data mix
• Factors causing trend shifts in severity and virtual claims processing  
• Regulatory environment changes putting pressure on core rating variables

Download the new Auto Insurance Trends Report to get actionable insights that can help you better navigate a myriad of evolving trends impacting your business.

P&C insurance is in the midst of a seismic, tech-driven shift which has resulted in the insurtech boom. New startups and legacy companies alike are eager to use artificial intelligence (AI) to help them rise to meet new challenges, turn photos into action, better grapple with new and ever-changing risk profiles, reduce expenses and compete in the race to become the insurance carrier of tomorrow.

Download this white paper and learn about:

• 4 major forces putting pressure on the P&C industry
• Today’s tech buzzwords and how you can make sense of them
• 4 steps to build artificial intelligence to increase accuracy & minimize rework
• How today’s technology can help your organization solve tomorrow’s problems
• And more!

Consumers today are less beholden to brands of insurance. Core systems may have already been upgraded, but navigating your centralized data is becoming more and more essential for the future of your business and securing your customers’ trust. It can make the difference between policyholders growing their relationship with you or trying another insurance brand. Learn how to better utilize your data through Business Intelligence so that you can create a better experience for your customers. 

Download this white paper and discover how Business Intelligence could impact your business! It includes: 

• A detailed overview of Business Intelligence and how decision-makers are utilizing it best for their business
• 4 different trends in Business Intelligence, specifically for insurers
• A guide to how you can find the right Business Intelligence solution for your organization

The adoption of technology can bring meaningful change to an insurance company’s bottom line and can result in growth across new and existing property, contents and auto insurance policies. Download this guide and learn how: 

• Climate change is impacting P&C risk
• To move from a “detect-and-repair” to a “predict-and-prevent” mindset
• To deploy new technology intelligently in 3 steps
• To understand where risk turns into reality
• AI can help reduce P&C risk

Profound changes in the world have brought uncertainty to everyone, including the corner offices of insurance companies. In an increasingly on-demand world where goods and services can be bought with the click of a button, the insurance industry is struggling to keep up with changing customer dynamics. Insurance remains an essential product, but for many insurers, the methods of delivering their product to their customers has been slow to adapt.

Download this report to learn how you can speed up the delivery of new offerings in your organization. The topics discussed include:

• The changing business of insurance
• The hidden cost of technical debt and 3 keys to addressing it
• The role of insurtechs, insurance, and technology and how you can take advantage of options such as low-code solutions, automation, and the creation of APIs 
• Preparing for the future of insurance and how you can leverage the data in your legacy systems as an asset

A recent consumer insurance survey found that 87% of policyholders say the claims experience directly impacts their decision to remain with their insurance provider. Speed of settlement and process transparency are the most important contributors to the customer experience as increased competition continues to shake up the industry.

Download this eBook to stay agile in the changing claims landscape, future-proof your claims process and promote continuous improvement inside your operations. You will learn 7 ways to modernize your claims experience. Topics discussed include:

• Unifying and extending your data
• Optimizing first notice of loss and claims intake
• Enhancing claims operations and settlement
• Mitigating fraud
• And more...