InsuredMine has recently been certified as SOC 2 Type II compliant, following a period of observation by an independent auditor. This significant accomplishment solidifies InsuredMine’s reputation as a trustworthy and secure cloud software solution in the insurance Customer Relationship Management (CRM) landscape, building upon our previous certification as SOC 2 Type I compliant. In announcing … Read more
With new technological advancements and changing customer expectations, the insurance industry is undergoing a significant transformation. As we move forward, this technology is changing how insurance is purchased, sold, and delivered. Innovation is at the heart, customer-driven, and many insurance companies are increasingly adopting a customer-first strategy by offering innovative digital tools to enhance customer … Read more
NORTHBROOK, Ill., January 18, 2024 – The Allstate Corporation (NYSE: ALL) today announced fourth quarter estimated catastrophe losses, prior year reserve reestimates and implemented rates. Allstate’s estimated catastrophe losses were below the $150 million reporting threshold for December 2023. Total catastrophe losses for the fourth quarter were $68 million, pre-tax. Unfavorable prior year reserve reestimates, excluding catastrophes, … Read more
“You make most of your money in a bear market, you just don’t realize it at the time.” Shelby Cullom Davis Every industry under the sun goes through market cycles. Insurance is no different, we just have a fun name for it — Hard Market. Characterized by higher premiums, lower retention, free-falling commissions, and a … Read more
As we look ahead to 2024, while we see many challenges for the insurance industry, we meet these with optimism. Insurance is a resilient industry with a deep sense of purpose—offering people, families and businesses protection and a more secure future. What’s the macro-economic outlook? Global macroeconomic forecasts for 2024 indicate both slowing GDP growth … Read more
Did the Holidays Sneak Up on You This Year? The holidays have a way of seeming ages away only to pop up on the calendar the following week. While you may have had big plans to go all out decorating your home with festive decor, baking enough cookies to feed a small army, and finding … Read more
Insurers must stay abreast of InsurTech trends to stay competitive, enhance operations, and improve customer services in the dynamic insurance landscape. InsurTech, which combines technology with insurance, incorporates artificial intelligence, machine learning, data analytics, blockchain, and Internet of Things. The leveraging of innovations such as AI chatbots for 24/7 support and ML algorithms for personalized … Read more
The digital transformation in insurance is a remarkable story of adaptation and innovation. It’s not just about making insurance companies more efficient; it’s about putting customers at the center of the business models. It’s about leveraging digital technology to make your insurance experience smoother, safer, and more accessible. So, the next time you think of … Read more
As we bid farewell to 2023 in this final Insurance News Analysis of the year, we are happy to welcome Cory McAnelly, Assistant Vice President of Enterprise Innovation Strategy at Principal, to join as we delve into what made the headlines this year. We start with a recurring theme: generative AI. Cory brings his perspective … Read more
Getting Ready to Drive in Winter Weather Means More Than Just Preparing for Snow If you live in a cold climate, then you know the stressful and – at times – heart pounding experience that comes with driving in winter weather conditions. While the thought of driving during the colder months may conjure the mental … Read more