BRINGING INSURANCE FROM THE STONE AGE TO THE SPACE AGE

SCOTT GRANDMONT | February 1, 2019

article image
When it comes to industries keeping up with the times, some are naturally more advanced than others.  Sectors, such as eCommerce, technology and entertainment are among the most advanced in term of features and capabilities which delight consumers.  These sectors can be considered the Jetsons of the marketplace, continually evolving and reaching for the stars.  In contrast, the Flintstone’s of the marketplace, often struggle to keep pace with the evolving landscape of technologies, capabilities and experiences.  Far from being stuck in the Stone Age with the Flintstone’s, the life insurance industry has been carefully observing the Jetsons of the marketplace to determine how best to service the needs of its customers.  As life insurance is an important financial purchase for customers and one where the duration of the relationship is often measured in decades, the careful selection of products, features and service experience is important for long-term success.

Spotlight

Colmore Insurance Brokers

Colmore Insurance Brokers Limited is a privately-owned business which puts the client at the heart of everything we do. We believe in an integrated approach to the management and transfer of risk. Every client matters to us. We are resolute in making sure this is constantly reflected in the service we offer. The values upon which Colmore Insurance has been established guide our daily operations and ensure that we are always attentive to the requirements of our clients.

OTHER ARTICLES

5 Deep Learning Use Cases for the Insurance Industry

Article | February 11, 2020

In 2010, with the launch of the Image Net Competition, a vast dataset of about 14 million labeled images was made open-source to inspire the development of cutting-edge image classifiers. This was when Deep Learning technology got it’s a real breakthrough and since then there’s been no looking back for advancements in this field.

Read More

How InsurTech-Insurance Partnership Delivers New Product Innovations

Article | February 11, 2020

In 2019, InsurTech funding reached $6 billion, acknowledging the pace that technology can bring to overcome the age-old Insurance problems, the State of AI in Insurance 2020 says. While Incumbents are known for their core competencies in end-to-end insurance processes (from underwriting to claims settlement and reinsurance), InsurTechs are enticing millennials with fully digital innovative products and solutions.

Read More

Can AI Solve Health Insurance Fraud?

Article | February 11, 2020

Insurance fraud scams seem to make the news at least every month, as organized criminals seek to exploit the way insurers reimburse clinics, pharmacies and other providers for their services. What’s often shocking is how much money fraudsters can steal from insurers before they’re caught. Recently, in a single month, two separate alleged fraud rings based in California were busted for scams that investigators say netted $20 million or more.

Read More

6 mistakes small business owners make when filing insurance claims

Article | February 11, 2020

Failing to contact your business insurance provider immediately after an accident, not documenting property damage, and admitting fault for an incident can affect your claim amount or whether you’ll be covered at all. Risk comes in many forms for small businesses. Natural disasters, client injuries, and equipment failure can all impact your bottom line. Commercial insurance is essential to managing a small business’s risks. Your general liability insurance premiums will be well worth it if a visitor sues your business over an injury that occurred at your office.

Read More

Spotlight

Colmore Insurance Brokers

Colmore Insurance Brokers Limited is a privately-owned business which puts the client at the heart of everything we do. We believe in an integrated approach to the management and transfer of risk. Every client matters to us. We are resolute in making sure this is constantly reflected in the service we offer. The values upon which Colmore Insurance has been established guide our daily operations and ensure that we are always attentive to the requirements of our clients.

Events