Rising premiums provide new avenues for insurers amid pandemic fallout
Sharp increase could prompt insurance companies to raise capital or launch new businesses Source link […]
Tag: insurers
How can insurers get better at countering disruption?
As I’ve mentioned in previous posts in this series, the insurance industry is facing increasing levels of disruption—according to the Accenture Disruptability Index, the industry is in the volatility period. Insurers also face constantly evolving customer expectations, such as a new focus on sustainable development. Most industries in this period of disruption, including the insurance… […]
Consumer advocate hits out at insurers’ Senate funding as major bill looms
It would allow homeowners’ insurance companies to hike rates as high as they like, it is suggested Source link […]
If we force insurers to pay COVID-19 BI claims, it "would totally bankrupt" most of them
Insurance commissioner speaks out on commercial coronavirus claims Source link […]
Gauging Pandemic’s Impact on Insurers
While COVID-19’s impact on the insurance industry will require time to fully understand, litigation, legislation, and concerns about pricing and policy language will be with us for some time to come. “Significant” changes in policy language seen The majority of respondents to an Artemis re/insurance market survey believe the COVID-19 pandemic will result in “significant changes” to […]
Cloud has been reinforced as an imperative for insurers
The response to COVID-19 drove the pivot to remote work over the course of days. As the crisis plays-out, and insurers are required to sustain remote operations for sales and service, it is clear that many insurers were not prepared with the cloud solutions that they, their agents and their customers needed. While this latest… […]
Consumer advocate calls for auto insurers to provide more premium relief
Only one insurer in the state has plans to lower rates based on accident decline in the face of the pandemic Source link […]
Why it’s time for insurers to boost virtual selling
If you’re used to selling insurance in-person, the COVID-19 crisis has probably turned your world upside down. Lockdowns and stay at home orders have made it impossible to rely on traditional sales methods. But for those of you already on the path to digital—you’ve at least got a head start on the competition when it… […]
Insurers respond to COVID-19 (6/05/2020)
With a number of carriers increasing the credit they are giving on their policies, U.S. auto insurers will return over $14 billion to their customers nationwide in response to reduced driving during the pandemic, according to an Insurance Information Institute (Triple-I) estimate. In May, Triple-I estimated that insurers would return more than $10 billion. Since then a […]
Insurers respond to COVID-19 (6/15/2020)
Industrywide, philanthropic giving in response to the COVID-19 crisis continues to increase. Using information collected by Insurance Industry Charitable Foundation (IICF), the Insurance Information Institute upgraded its earlier estimate to $280 million donated through early June by U.S. insurers and their charitable foundations in response to the pandemic. In addition, international insurers and their foundations […]