Insure Think

As the use of AR and VR technologies continues to accelerate, insurance businesses may be able to perform more critical operations in the metaverse.

The initiatives at the top of insurers' agendas in 2022 include those involving data and analytics.

Usage-based insurance models stand to cut costs for both insurers and the insured.

Sean Burgess, chief claims officer at Lemonade, writes about preventive measures to decrease car theft.

AI and ML can find patterns in data, but when they're trained on biased data, they can compound the issues and perpetuate a self-confirming data bias cycle.

Can time to first contact predict how well an adjuster will handle a claim journey from start to finish?

There is no cookie-cutter way to establish an MGA these days.

In-vehicle data from embedded vehicle sensors is richer, more reliable, convenient and cost-effective.

A good cyber insurance policy should cover ransomware incidents.

With the drive towards electric vehicles, there are questions on how the transformation and newest technology will influence car insurance.

Is it possible for an insurer to help prevent damages and delays? Yes.

Claims processing is known to be a long, manual transaction. The solution? Digitization.

The industry is shaping ESG adoption on a world scale and a comprehensive ESG plan should include a focus on data.

Agencies and insurers focused on the segment are often the pioneers of innovative, new approaches in distribution.

High-resolution, high-frequency imagery assists insurers with claims processing, underwriting and post-disaster property inspections.

The cloud and SaaS can ensure that businesses are able to operate in real-time.

Insurance companies need to embrace decentralization and self-service.

Property and casualty insurers can benefit from tools and data that enable them to assess damage and address claims quickly.

How do you maximize efficiency in the application, quoting, and claims process and not invite new or additional fraudulent activity?

Recent data illustrates that the future of the workforce is flexible by way of autonomy.

Unlike the launch of Google Compare several years ago, insurers are taking Amazon's UK launch of a home-insurance comparison site in stride.

Carriers need to focus on two things: defining where the value in cloud lies and building a partnership between business units and IT.

Findings from Embroker indicate that startup founders are shifting their focus to managing risks surrounding reputation and social responsibility.

Insurance needs can vary depending on the business.

Water damage is a real threat for anyone living on the coast, near rivers or other water sources.

Telematics shifts the conversation to both price and value.

The risks aren't necessarily new but the pace is.

Insurers need to rethink their approach to innovation, which is a complex, company-wide endeavor.

The area promises huge opportunities to gain experience and has the right infrastructure to power long-term growth.

Actuaries are the bridge between insurtech and the insurance industry.

Automated tools may seem threatening to agents but tech can improve the ways they work.

Evidence of the cloud's inherent strengths accumulate as its perceived drawbacks and limitations wane.

Telematics can make customer acquisition and retention smoother and less costly.

Many people are unaware of the product and that it could potentially cover pregnancy.

Roadside assistance has an outsized effect on the customer experience.

Younger people perceive their risk acutely, and react in similar ways despite their income level.

Nonprofits are experiencing higher costs and greater restrictions on coverage.

Insurance organizations must identify where true exposure and business risk hide.

What word would you pick to describe the future of underwriting?

ML can mitigate the risk of insurance fraud, among other applications.

Crash detection technology has the potential to save lives and reduce claims expenses.

The industry is continuing to evolve and find new ways to leverage technology.

It is critical to leverage an integrated data strategy, optimized processes and effective utilization of underwriting talent.

Protecting cryptocurrency companies is a challenge for commercial insurers.

Success depends on people, culture and processes.

Automation can enable insurance providers to resolve common policyholder requests faster.

Most consumers expect their insurance company to be able to interact with them through all digital channels.

To realize the full value of data as an asset takes more than the right algorithm.

Insurance companies experiment with ways to make the experience as painless and hassle-free as possible for consumers.

There are countless ways to maximize and leverage the power of technology and the accessibility of public information to improve processes and products.

The rise of the IoT has led to a true data explosion.

The key to easing technological anxieties is to understand all your audiences’ needs.