Resource Center

Quote creation is one of the most important processes within commercial insurance yet quoting remains inefficient for much of the industry. The reason for this is a broad lack of digitalization with commercial brokers continuing to issue manual quote requests to carriers. But APIs are finding increased popularity in commercial insurance as a means to create a faster and more efficient quoting process.

For any broker or MGA-MGU considering creating a quoting API, this guide is for you. Download it now to learn:

• What is an API (application program interface)?
• Why APIs are the future of commercial insurance quoting
• How APIs can boost retention, give you access to new business and unlock machine-assisted proposals 
• 12 best practices for developing a quoting API
• And more…

Insurance companies are increasingly aware they must embrace digitization in order to meet the quickly evolving needs of agents and consumers. Shifting expectations conditioned by the internet mean agents’ clients are demanding instant and digital communication--they expect transparency and control over the buying process and also seek the advice and advocacy of their agent. Agents must find new ways to interact with customers and they are looking to carriers for tools to help control their costs from digital marketing to customer interfaces. 

This on-demand webinar reveals trends occurring across generations of agents and how carriers can adapt to meet their needs and future-proof their business. Topics discussed include:

• What agents need from carriers
• What carriers could be doing better to gain agent business
• How to improve the agent experience
• Additional resources and expert Q&A       

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.

Millennial consumers now outnumber baby boomers and demand technology that provides simpler products, streamlined customer experiences, personalization and a holistic omnichannel experience. Such trends present a challenging environment for insurance carriers who face declining customer satisfaction levels, low-interest rates, stagnating premiums and high pressure to deliver measurable ROI for policy administration systems (PAS). This eBook demonstrates the benefits of cost-collapsing technology such as direct API integrations of 3rd party data which helps improve operational efficiency and achieve additional savings by improving data inputs to better the reliability of the output and reduce margins of error. 

Download the eBook for an in-depth look at APIs including:

• The top 3 benefits of using APIs
• 3 key business drivers for API initiatives
• 8 criteria for policy administration system (PAS) workflow optimization
• How to select an API provider
• And more…

Even today the insurance experience is often a series of manual processes, requiring customers to wait to receive a quote, obtain a new policy, pay a bill or report a simple claim. The customer journey suffers when it takes an unnecessarily long time to request or provide information. Fortunately for everyone, automation solutions can eliminate friction and wait times for policyholders, agents, brokers, claimants, and their contacts at insurance carriers. 

Download this eBook to discover how insurance can adapt with the game-changing innovations of automation and all it has to offer. You will how learn how to: 

• Offer limitless customer service that’s easy and quick to implement.
• Better understand your customer and their insurance lifecycle
• Drive value for marketing, quote, policy, and billing
• Make P&C claims more agile and accessible
• Transform customer journeys

When an event’s success is determined by weather conditions, accurate data can make or break your coverage. Your underwriters need the confidence to bind policies that satisfy both your risk appetite and the insureds’ needs. And in the event that the policy is triggered to pay out for exceeded thresholds, your claims department needs an accurate, consistent way to verify conditions and expedite the payout process. 

In this white paper, you will learn the difference between special-event and parametric insurance in terms of coverage and necessity, and how you can write more informed policies. Topics discussed include:

• What is the current opportunity for special-events insurance?
• Why parametric insurance is especially relevant today
• How to glean actionable insights from proprietary risk models
• How to get historical and forecast weather data to help you write smarter policies
• And more…

Crawford & Company, the world’s largest independent provider of claims management and outsourcing solutions, had been using handheld recorders for in the field dictation. They found the devices were not user-friendly, adding unnecessary friction to the workday and consuming an inordinate amount of their IT department’s time.

Download this case study to learn how an innovative, cloud-based dictation solution offered them numerous benefits including:

• Enabled adjusters to record, edit and send dictation files on their smartphone 
• Reduced turnaround times for transcription and document generation
• Provided flexibility, kept notes organized, and increased overall productivity
• Secured dictation by encrypting notes during recording

Discover how a user-friendly solution could help you put both your adjusters and customers first!

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

Insurance companies have always struggled with how to engage their customers. Communication strategies often lack coordination inside the organization, with objectives from different departments resulting in conflicting customer messaging. In today’s digital world insurers are feeling pressure to modernize their communication strategies to meet customer expectations.

Download this report to discover how to transform your customer experience with content that is dynamic, interactive, persuasive, and timely. You will learn about: 

• The emerging channels insurers need to use in addition to traditional print, including email, mobile apps, text, and chatbots
• How technology advances, cloud computing, and consolidation of outdated existing solutions are driving the demand for new customer communication management tools
• Success factors that will help you deliver exceptional customer communications every time

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. 

A key to unlocking opportunities to level up business efficiency and customer experience is understanding how today’s processes impact the experience of both customers and insurance employees. To this end, Lightico surveyed insurance professionals on their views of the changing insurance landscape, how their companies manage new policy sales and existing customer claims, and how accelerating these processes could make a difference.

Access this interactive report now for insights on what customers really want and what you need to do to meet those expectations. Key takeaways include:

• The truth about mobile solutions
• The slow reality of most claims processes
• Ways to improve the sales pipeline
• How to boost the bottom line
• Why self-service options are a pain point for many customers

As the industry barrels into the future, get crucial information to help you enjoy success. 

Insurance quality and compliance is undergoing an evolution that challenges manual QA techniques. Everyone dreads the arduous manual tasks that comprise a QA process, which is why QA automation is becoming essential as the industry faces increased demands for better claims quality and more accurate data. 

Download this white paper for insights on how you can evolve your company’s audit process, which can be daunting, but is critical in today’s market. You will learn how to overcome specific challenges, such as:

• Ways to reinforce data integrity
• How to optimize review completion 
• Tactics for resolving results and access
• Ensuring you make the best decisions
• And more… 

PLUS – Get a list of the top five benefits of automation so you can better make the case to transform your operations. 

Most property and casualty insurers are dedicating their resources into modernizing their legacy systems these days, however this incremental approach is holding the industry back. But there is a disruptive innovation strategy called greenfield. The purpose of a greenfield initiative is to operate separately from the “mothership” and identify customer needs in ways that the insurance industry has not been able to before. They start small, test, learn, and adjust until an offer is ready to scale. This process combines what is possible from a new build with the capital resources associated with an established firm.

Download this guide to learn about the greenfield approach and how it can help you innovate quickly and freely. This information will help you:

• See what a greenfield platform approach looks like
• Determine if the greenfield approach is right for you
• Understand how other insurers used greenfield initiatives as a path to enterprise transformation and you can too

When a policyholder files a claim, it’s a make-or-break moment. Many consumers say if they are unhappy with the process, they’re going to start shopping for a new carrier. One challenge with any property claim is they can be manually intensive since automation can only go so far. In today’s market it’s key for forward-thinking organizations to modernize their workflows to deliver better outcomes for policyholders.

Download this eBook now for insights on how you can reduce delays for customers and keep pace with the industry’s digital transformation. You will learn six ways to use aerial imagery, including: 

• How to proactively update PIFs to avoid surprises
• Ways to stay efficient following a natural catastrophe
• Tactics to speed up response for policyholders

As the pandemic and rise of natural catastrophes continue to impact insurance, ensure you're equipped with the data required to respond quickly to policyholders.

The risk of not digitizing is growing fast. Artificial intelligence (AI) technologies are no longer just a “nice-to-have” — they are now a core capability for enterprise-wide digital transformations. Using AI technologies to inform decisions allows insurers to deliver better customer experience and become stronger competitors. However, damaging myths about operationalizing AI prevent many enterprises from implementing AI solutions. 

Forrester conducted three interviews and an online survey to explore this topic. The study* revealed that AI decision-makers see operationalizing AI as critical to gaining essential insights about customers and markets to improve business outcomes. However, silos, data challenges and a lack of resources stand in the way.

Download the study to discover:

• Common myths related to the use of AI in today’s enterprises
• The top five challenges of using AI
• The most popular use cases for enterprise AI projects
• Barriers that stall AI technology opportunities
• Forrester’s five recommendations for enterprises looking to operationalize AI

* Why You’re Wrong About Operationalizing AI, a commissioned study conducted by Forrester Consulting on behalf of InRule, May 2021

Contactless processes gained popularity in people’s daily routines during the pandemic. These new practices are predicted to continue with many professionals choosing voice assistants instead of visits to physical sites or offices. With many claims teams working in separate locations, voice solutions can be leveraged to benefit and improve operational efficiencies. 

Download this eBook to pave the way for more productive, efficient and streamlined contactless processes. You will learn how to:

• Accelerate and automate workflows for teams in separate locations
• Take advantage of business agility and security with the cloud
• Ensure an effective hybrid work environment

Commercial insurance brokers and agents have a great deal on their plate and limited time to handle it all. You and your staff must juggle large volumes of communication and data while keeping up with demands for more placements. Gathering up-to-date data, sourcing capacity and chasing quotes, and crafting winning proposals are a challenge and efficiency is key.

Download this white paper to discover the four most common causes for broker inefficiency, the cost of these inefficiencies and the return on investment for addressing them. You will learn how to:  

• Secure rapid indications and bindable quotes 
• Boost success for both new and renewal business
• Turn data into insights and alleviate your E&O
• Cross-sell and share leads across all commercial lines

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...

As more organizations fall victim to cybercrime, different types of policies that can protect potential victims are vitally important. Community associations are not among the high profile potential victims, such as towns or hospitals, but they are very vulnerable. These community associations need protection, but rarely have any sort in place even though they house sensitive personal information. They represent an industry ripe for you to connect with.

Download this white paper now for insights on the top 5 cyber trends impacting community associations, and how you can help ensure they have the right coverage. Trends discussed include:

• Using misleading phone calls and emails
• Ransomware
• Lost or stolen equipment
• And more… 

Take steps to help protect the data held onto by community associations before they join the list of cyber victims.

The secret to achieving your goals and succeeding in the next phase of insurance distribution isn’t a secret at all — it’s technology. With the right solutions, you can connect to partner systems, improve your distribution channels and give your agents the experience they deserve. While it isn’t possible to predict what the future holds, the insurance business has always been about people and that includes your agents. By improving your distribution channels, you and your partners can work more effectively together and better serve the end-insured.

Download this eBook for opportunities to boost growth in 2022, including how to:

• Provide a great experience for modern agents
• Optimize your distribution channels
• Make it easier to do business with you
• Provide exceptional agent support
• And more…

Because claims processing teams were already accustomed to being geographically dispersed, it could be said that insurance companies were early adopters of some of the trends accelerated by the pandemic - including a hybrid workforce - but there’s still a long way to go. Many experts predict widespread use of voice recognition technologies will become “the new normal” in the post-pandemic world. The use of voice capabilities could allow insurance professionals to enhance operational efficiencies, improve communication and streamline customer service.

Download this eBook to understand how innovations in voice recognition can improve hybrid workplaces and claims process management. Topics covered include:

• How digitized communication can give you a virtual advantage
• Staying physically distant but functionally connected
• Weaving sophisticated capabilities into your work routines 

Covid-19 and disruptions to commerce that come in its wake continue to cast shadows over the global economy. Business risks have heightened for enterprises, especially for those in the insurance industry. Remote work and other changes to how insurers must operate are likely to persist, as are customer and agent expectations produced by the new digital norms. 

Meanwhile, insurers also face the prospect of mounting claims, increased litigation and reduced premiums due to business closures – all of which could have a significant impact on the industry’s landscape. The onus is on insurers to prepare now for these possibilities by closing the gaps in their digital operations. A new picture is emerging for the industry where the digital insurance initiatives already in place are accelerating and new efforts – many of them aimed at driving greater levels of customer satisfaction – are gaining traction. 

This eBook aims to shed light on those plans and how they are likely to play out in a post-Covid world. Download it now for ideas  to remain competitive, streamline processes and reduce costs. Topics discussed include:

• Understanding decision automation technology
• How to cut costs and streamline business operations
• Strategies to remain competitive and succeed in a post-Covid world
• The importance of personalizing the customer experience
• Methods to create deeper customer loyalty

In a world of instant gratification, customers are less willing to wait for a paper claim check to arrive and clear. If you haven’t already adopted a form of digital payment, you are behind the times. If you’ve tried implementing one on top of legacy systems, there may still be room for improvement. And this may be the single most important thing your customers value.

Download this white paper now to get insights on the importance of an overall digital payments strategy and why you must avoid a piecemeal approach. You will learn:

• What your policyholders care about when it comes to claims payments
• How a proper strategy can reduce your overall costs
• Ways you can personalize the experience for each customer
• And more…

Take steps to reap the big benefits of digital claims payments and boost policyholder satisfaction.

A recent survey found that 98% of independent agency decision makers believe a strong marketing strategy is a competitive advantage in today’s market. However, only 37% are comfortable with digital marketing techniques. By offering agents the right digital marketing strategies, tools and support, carriers play an important role in helping agencies make the leap into digital methods resulting in more policies sold and the profitability of the agent distribution channel being maximized.

Download this whitepaper and learn:

• The underlying forces impacting digital marketing
• How carriers can ensure independent agencies deliver authentic and personal customer experiences via their marketing
• Five distinct elements of the ultimate digital marketing platform 

At this point, it seems like a no-brainer that any organization is digitizing their processes to make them more efficient. However, as unbelievable as it sounds, there is still a divide between forward-thinking insurers and those who have yet to embrace digital maturity. 

Download this infographic now to get insights on why 70% of digital transformation initiatives still  fail to deliver the intended results. You will learn about four major obstacles, and how to overcome them, including:

• The importance of finding the right talent to fill in digital skill gaps
• The problems with longer release cycles
• Complications brought about by age and resistance
• Data inaccuracies and the ability to validate data quality

Ensure your digital transformation efforts achieve success and discover how appropriate training and support can truly transform your business.

A property’s roof and structural attributes can make or break an insurance policy. Often insurers can’t determine roof condition without an on-site inspection that requires someone to visit the property and climb onto the roof. AI-driven property risk analytics can provide reliable property data to help you make smart policy and pricing decisions without leaving your desk. 

Download this whitepaper to learn how to save money, eliminate delays and make more confident underwriting decisions. Topics discussed include how AI-driven property risk analytics can help you:

• Examine critical risk factors for underwriting commercial and residential property 
• Analyze advanced attributes for a more complete view of risk
• Streamline your risk assessments and reduce the amount of necessary on-site inspections

With today’s tight operational margins made even worse by the COVID-19 pandemic, working smarter to gain and maintain a competitive advantage remains an important overall goal. If you are focused on scaling operational costs while you continue to prioritize consumer expectations, enacting a holistic digital payment strategy could turn a traditional cost center into a forward-thinking strategy.  

Download this white paper to understand how the right strategy can address three areas critical to future success. These include:

• Operational efficiencies
• Business continuity
• Evolving consumer expectations

Take steps now to make sure you do not overlook the big picture of what digital payment could bring to the table. It’s time to think big and get quick digital payment wins.

2020 was a record year for both hurricanes and severe convective storms. To better plan for the cost of natural catastrophes, many insurers are turning to new weather analytics tools and models. On-demand data solutions can integrate analytics directly into claims management systems, underwriting workbenches, and geospatial mapping tools.

Download this white paper now to take a closer look at the risks associated with current climate trends and learn how to better plan for (and mitigate) these risks. The topics discussed include:

• How to better examine environmental factors
• The need to evaluate how climate changes impact every step of the insurance process
• Ways to leverage insurance-focused data solutions
• And more! 

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.

The insurance industry continues to change in ways that would have been unimaginable before the COVID-19 pandemic. It’s a challenge for insurers to understand how they can leverage these changes to deliver a better customer experience during the claims journey. Get first-hand advice from a roundtable of claims experts that might help you respond to this rapidly evolving landscape.

Download this white paper now to discover why roundtable participants agreed that one silver lining of 2020 was forced transformation, particularly when it comes to the adoption of digital claims processes. The panel also detailed 4 characteristics of a superior claims journey, including:

• The importance of simplicity, transparency, and low effort
• Why you should prioritize smaller changes over larger ones
• How to balance automation with empathy
• Choosing quick wins to deliver ROI

Find out how your organization can implement a winning strategy this year!

After another year of catastrophic weather events, as well as the pandemic, it’s important to consider new ways to support policyholders. Innovation is no longer a “one-day” aspiration, it’s essential, especially when it comes to customer experience. By using out-of-the-box thinking, including 2D, 3D, and AI aerial data, insurers can gain a true understanding of what’s happening on the ground with specific properties, from initial quoting to policy renewal.

Download this industry guide now to discover how aerial imagery and AI-powered insights can transform your operations and provide an unparalleled customer experience, mitigating risk across your entire book of business. Topics discussed include:

• How you can pre-fill vital property data into your critical models 
• Realizing the power of virtual inspections to verify risk with confidence
• Assessing exception business by leveraging the most up-to-date aerial imagery
• How to avoid inspection lapses during the renewal phase
• And more… 

Because the policy lifecycle is at the core of your workflows, it’s crucial you can make decisions with confidence across every stage. Find out how!

Creating an effective insurance quality program is one of the most important actions any carrier can take. In principle it’s quite simple – but flawless execution requires an organizational commitment to consistency, transparency and accountability.

Download this white paper for 7 secrets that are key to any successful claims or underwriting quality program - and most importantly, adaptable for any QA program regardless of your business’ size or specialty. These secrets will prompt you to ask:

• In what areas is your current program leading or lagging?
• Do you have any of these 7 secrets already in place?
• Do you need to rethink your entire approach to quality?

Ultimately, your QA program is a living entity that is constantly evolving. Redefine the way your business approaches quality by moving beyond superficial metrics now!

Even if you’re ready to start building your company’s quality assurance program (or redesigning it), you may not be ready for the realities of the creation process. There will be inevitable questions and setbacks, and your team and technology need to be prepared to shoulder the responsibility of QA success. It takes more than just leadership buy-in to make a QA program work. You must also make sure all stakeholders are ready to be accountable to specific goals.

Download this white paper for 7 key questions you must ask (and answer) before you start creating or redesigning an insurance QA program. This includes:

• Why do you need a QA program and how do you prepare?
• What are the program’s deliverables?
• What do you plan to do with the results?
• How much will it cost?
• And more… 

A good QA program can take your organization to the next level and ensure your customers get what they need. Take steps now to put a QA program in place that will allow you to adapt to changing expectations and succeed.