This post is part of a series sponsored by AgentSync. ...
Competitive pressure, increased capital availability (even with current rates), and the evolving business landscape (thanks in part to the pandemic) have created an opportunity for independent insurance agents (IAs) to get creative to grow and remain independent in the insurance industry. ...
This post is part of a series sponsored by CoreLogic. ...
I am encouraged to see ever-expanding ecosystems in the life insurance space. They’re helping insurers bring in more diverse data, specialized skills, leading-edge technologies and new ideas that spark innovation. Moreover, these benefits are accessible through trusted partners, rather than insurers making costly and time-consuming investments to build the capabilities themselves. In fact, ecosystem collaboration is one of six insurance innovation trends our Generative AI model uncovered from this year’s entries in the Qorus-Accenture Innovation in Insurance Awards. ...
The insurance industry admittedly may not be as glamorous as high-tech, investment banking, advertising, or Hollywood. After all, consider that the most influential publication on what’s happening in property & casualty insurance is titled IBNR Weekly (where IBNR means incurred but not reported, an insurance term of art for long-term bulk capital reserves). We therefore have no shame in titling this comment ‘California Wildfire Losses, Net or Gross?’ The purpose of this note is to peel back onion layers and explain why alarmist messages about the health of the insurance industry betray ignorance of the dynamics of a complex industry. ...
The decision to initiate a Guidewire cloud migration should not be made lightly. Like any key decision in life, it is best to find experts, so not to incur potentially large expenditures in the future to fix a poor implementation. Between the financial investment, the large and potentially unknown risks, and the career implications determined by its success or failure, the stakes are very high. We inform and provide supportive leadership to C-suite decision-makers and stakeholders alike to what considerations and critical success factors should be top of mind when migrating to the Guidewire cloud platform (GWCP). ...
This post is part of a series sponsored by Darkhorse Insurance. ...
In a context of ongoing disruption, insurers are being called to reinvent themselves. In order to transform on an operational level, insurers need to move from complexity to simplicity. This alone is a daunting task. Composable architecture helps insurers to simplify this complexity at every step of the insurance value-chain, often using processes already at their disposal. Below are 5 practical composable architecture use cases. ...
Having a criminal charge or conviction in one’s background can make things more difficult for a licensed insurance producer. However, it doesn’t always have to mean the end of a career, as long as you follow your state’s procedures for reporting the new history. It’s best to start with your resident state, but don’t forget to notify all states where you hold a nonresident license as well. ...
The way consumers shop for insurance has greatly changed over the past 20 years. From the rise of digital direct (and more recently, embedded) to having the option to provide data for better prices, consumers have more influence than ever before. ...