Do you have the RIGHT insurance coverage for your business?

| March 4, 2020

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Has your business insurance agency crafted a policy that's CUSTOMIZED to your unique needs?  Does your agent review and update your policy each year so that it reflects new risks and policy options? The Phil Klein Insurance Group's experts will always make sure your business is properly covered and that you understand your risks and coverages before you have to use them.

Spotlight

Industrial and General Insurance Plc (IGI)

Industrial And General Insurance Plc., (IGI) was incorporated on 31st October, 1991 and commenced operation in January 1992 as a composite insurer to transact the business of Life and General Insurance (including Pensions and Special Risks). The Company has a strong capital base and leveraging on its highly qualified professionals and the deployment of modern technology has become the preferred insurer for individual and corporate clients seeking premium insurance and related financial services in Nigeria.

OTHER ARTICLES

7 Business Models of the Future for Insurers

Article | March 18, 2020

The insurance industry continues to be an enabler of innovation. Since its creation three centuries ago, it has become an essential part of the global economy — providing security and resilience to businesses and individuals alike. But the fundamentals of how it operates have barely changed. As we enter a new decade, the industry must reflect the reality of the needs of today’s businesses and society. Large commercial insurers and reinsurers, in particular, have an increasingly urgent imperative to realign their organizations and modify their offerings to include stronger preventive services against new and evolving threats, including climate change and cyber risk. There is a huge opportunity. Our latest NextWave Insurance report reveals that, should the industry act now, an unprecedented growth and profitability spike is within reach. By 2030, we project that large commercial insurers and reinsurers could experience:

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How is automation changing the way insurance companies work?

Article | March 3, 2020

Job automation has shaped cultures and economies since before the agricultural revolution, throughout industrial revolutions and into the current digital age. The insurance industry is not immune, with automation and innovation continuing to drive the scope for significant change. Traditional automation has been transformative in automating simple, repeatable tasks in back-end processes. Robotic process automation (RPA) combined with artificial intelligence and machine learning capabilities can be, and are being, used to automate high volume and high frequency tasks that have traditionally required human intervention.

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BANKS CAN TEACH INSURERS HOW TO TURN DATA INTO PROFITS

Article | April 9, 2020

Open banking rules, particularly PSD2 regulations in Europe, have forced banks to share their customer information. Some progressive lenders have turned this threat to their businesses into a big opportunity. They’re using data-sharing ecosystems to reach more customers and launch new products. They’re also teaming up with promising business partners and expanding into fresh markets.

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The impact of Coronavirus on the insurance industry

Article | March 20, 2020

Unsurprisingly, that has had a knock on effect on financial service providers across the board and those in the insurance industry are no exception. In some cases insurers have started taking action to protect their businesses which, while sensible, left many consumers in the lurch as airlines failed to cancel flights and governments issued conflicting advice as to whether people should travel or not. Others in the insurance industry meanwhile are being forced into action to customers’ benefit by governments’ emergency responses to the virus.

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Spotlight

Industrial and General Insurance Plc (IGI)

Industrial And General Insurance Plc., (IGI) was incorporated on 31st October, 1991 and commenced operation in January 1992 as a composite insurer to transact the business of Life and General Insurance (including Pensions and Special Risks). The Company has a strong capital base and leveraging on its highly qualified professionals and the deployment of modern technology has become the preferred insurer for individual and corporate clients seeking premium insurance and related financial services in Nigeria.

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