Why innovation is key to growth of insurance industry
Innovation is a powerful tool of staying relevant and moving ahead of the rest in the ever evolving consumer market. It can do the same in insurance even as new and well-funded technology-based start-ups pose a real threat to industry giants.While innovation alone will not guarantee the sustainability of insurers, it holds the largest share of responsibility... ↪ read more...
The technologies disrupting the insurance industry and what incumbents can do to stay ahead
Tech-driven disruption in the insurance industry continues at pace, and we're now entering a new phase — the adaptation of underlying business models.That's leading to ongoing changes in the distribution segment of the industry, but more excitingly, we are starting to see movement in the fundamentals of insurance — policy creation, underwriting, and... ↪ read more...
Who Needs Life Insurance?
In fact, buying life insurance is one of the main choices that you have to decide on, especially if you want an insurance policy that will meet the needs of your family. At a quick glance, you can decide not to buy a life insurance and most of the time you have to think twice because you have two options: term life and whole life insurance. If you are faced... ↪ read more...
Lawyers, attorneys, Law firm for consulting about mesothelioma compensation
For many years, mesothelioma, a life-threatening disease
that may affect the lungs, abdominal, and several other important
organs, has been associated with prolonged contact with asbestos,
leading to numerous persons seeking an attorney specializing in
mesothelioma to greatly help them cover the overpowering expenses from
the disease.Typically,... ↪ read more...
Insurers turn to new IoT use cases
Almost half (45%) of insurance executives surveyed in a new Accenture
report said that IoT devices will drive new revenue for them in the
next three years, and they are starting to look at areas where they can
leverage IoT devices to gain that revenue. So far, insurers have been
aggressive in using telematics for usage-based car insurance. But there
are... ↪ read more...
Health insurers are getting crushed
Stocks of health-insurance companies are getting slammed. In late-morning trading on Wednesday, Anthem, Humana, Cigna, and Aetna were all down by about 3%. Earlier, democratic presidential frontrunner Hillary Clinton said the mergers between Anthem and Cigna, and Aetna and Humana, should be closely scrutinized. The $37 billion-deal between the latter two got... ↪ read more...
Michigan Insurance Broker Sentenced on Racketeering Charge
The Michigan Department of Insurance and Financial Services (then
known as the Office of Financial and Insurance Regulation, or OFIR)
found in 2008 that Flaherty, through his brokerage, Alternative
Insurance Services (AIS) had misappropriated more than $1.3 million in
premium funds for his own personal use. The AG’s office said Flaherty
began skimming... ↪ read more...
Pan-American Life Insurance Group and Mutual Trust Financial Group Complete Merger of their Mutual Holding Companies
Pan-American Life Insurance Group today announced that Pan-American Life Mutual Holding Company (Pan-American Life) and Mutual Trust Holding Company (Mutual Trust) have completed the merger of the companies into one mutual holding company. The merger of the two mutual insurance holding companies positions the combined entity as a premier life, accident and... ↪ read more...
How insurance companies can build trust with millennial customers
The largest generation in the United States is also the most
underinsured. Millennials are at conflict when it comes to insurance
shopping: While they are twice as likely as other groups to purchase
insurance online, they are also the group least satisfied with the
Millennials are born multitaskers who crave the speed and... ↪ read more...
Consumers unaware of provider-sponsored health insurance
Over the past decade, the percentage of Americans getting health insurance through their employers has been on the decline, a trend that has likely been accelerated by the availability of individual plans offered by the Patient Protection and Affordable Care Act. But most are still not seriously considering getting coverage sponsored by hospitals or health... ↪ read more...
How to Know What Insurance Customers Want
What do today's customers want from insurance providers?They want understanding, interaction, even a relationship. But they vary in when and how they wish to learn, interact and build a relationship.Insurance providers have to understand not only when but also how to best help customers with their needs, Lynn Kesterson-Townes, worldwide commerce marketing... ↪ read more...
Lawmaker Hopes To End Homeowners' Insurance Discrimination Against Pit Bulls
HARTFORD, Conn. (AP) - A state lawmaker is introducing legislation that would bar insurance companies from inquiring about or discriminating against a "bully breed" dog when issuing a homeowners' insurance policy in Connecticut.
Republican Rep. Brenda Kupchick of Fairfield said constituents have difficulty getting a policy if they own dogs such as pit... ↪ read more...
Obama Said to Cut FHA Mortgage Insurance Premiums
(Bloomberg) -- In an effort to expand homeownership among lower-income buyers, President Barack Obama plans to cut mortgage-insurance premiums charged by a government agency.
The annual fees the Federal Housing Administration charges to guarantee mortgages will be cut by 0.5 percentage point, to 0.85 percent of the loan balance, Julian Castro, secretary of... ↪ read more...
Insurance giant Anthem hit by massive data breach
HONG KONG (CNNMoney) - Hackers have stolen information on tens of millions of Anthem Inc. customers, in a massive data breach that ranks among the largest in corporate history.
The information stolen from the insurance giant includes names, birthdays, medical IDs, social security numbers, street addresses, e-mail addresses and employment information,... ↪ read more...
Save money by comparing auto insurance rates
There are several factorsthat influence auto insurance rates. These factors include an individual's profession, gender, age, marital status, locality and many more such things. In this segment, we will discuss some factors determining these insurance rates.
Driving record: in premium payment of auto insurance policy, an individual's driving record plays the... ↪ read more...
Cost Effective Auto Insurance for your vehicle
Are you looking to purchase insurance coverage for your vehicle? Do you want to get best and most cost-effective insurance coverage on your car, truck, van and other? Or you are finding it difficult to contact an insurance company for auto insurance coverage? If these are your problems and needs, you need not to worry any longer as you have simply come to... ↪ read more...
How to Get Cheapest Car Insurance
Due to the fact that it is illegal for one to drive a car without insurance coverage, most people are being forced to start searching for insurance companies even when they are on tight budget. For that reason, this article is loaded with information on how you can easily and simply get cheapest car insurance coverage. Truly, there are different insurance... ↪ read more...
Tips for Trimming Down Your Auto Insurance Costs
Costs of vehicles are on the rise, and car insurance companies are not considering lowering down insurance costs either. Let's not lose hope though, as there are still things that can be done to lessen the burden of vehicle associated costs on your wallet.
To help you lower your monthly expenses, here are 5 tips that can aid you in save you hard earned... ↪ read more...
Home Insurance FAQ
Every now and then we get asked questions that we feel should be answered but aren't covered in our home guides.
Q) Can I use my Homeowners Insurance on a theft from my car while it was parked at home?
A) There is cover for personal effects under the motor insurers for a small amount, however, depending on what has been stolen from the vehicle, will be... ↪ read more...
Top 4 Health Insurance Trends for Small Businesses
Small business owners face constant changes. Over the past year, many
may have dealt with the effects of the health care industry evolving,
the ups and downs of the economy, even employees’ circumstances
changing. Here are four health insurance trends that may help small
business leaders as they prepare for the year ahead.1. Exchanges Take Center Stage... ↪ read more...