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When we say “core systems” in our industry, we are typically referring to the critical software applications that are core to an insurer’s business operations, mainly the policy, claims and billing management functions.
With road testing of driverless vehicles now underway across North America, and more pilots on the horizon, it’s no wonder property and casualty insurers and industry experts are increasingly discussing the changing risk landscape.
2021 saw widespread vaccine deployment and easing of pandemic-related restrictions—important catalysts that helped rebuild confidence among people and businesses alike, while fueling economic recovery.
As insurers hold onto some of the digital solutions that were adopted because of the pandemic, it’s critical to understand the balance between digital strategies and boots on the ground tactics for underwriting.
The race for insurers to differentiate in the industry is on. As insurtechs disrupt the market and customers demand seamless, individualised experiences, insurers need to change the way they serve their clients.
The auto insurance industry is at a turning point. After navigating the unwelcome effects of a global pandemic, carriers and collision repairers are eagerly awaiting a return to “normal.”
Insurers have been slower to adopt digital twins than their counterparts in other industries.
What does it mean for economies, governments and communities when “once in a lifetime” weather events begin to occur on an annual basis?
Carriers don’t have to be the only beneficiaries of InsurTech advancements. A similar relationship can also be applied to the smaller independent agents and brokers.
People don’t trust insurers. We’ve probably all had to contact an insurer about a problem only to find it’s not covered in the small print. Rates are usually fixed, and sometimes unfair. There may also be hurdles in approving payment once a claim is made.
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