GOT IT COVERED? INSURANCE IN A CHANGING CLIMATE

| June 28, 2018

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Climate change poses risks for insurance companies, so do responses to it by markets, businesses, consumers and governments. These risks need to be understood and addressed by insurance companies as well as insurance regulators who are responsible for the stability and soundness of insurance companies and insurance markets.

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Colonial Penn Life Insurance

For over 50 years, Colonial Penn has specialized in offering life insurance directly to consumers at affordable prices. Through mail, TV, our call center and the web, we focus on providing life insurance protection for folks like you and your loved ones. We strive to live our four core values - Integrity, Customer-Focus, Excellence and Teamwork - in each and every interaction with our customers. Our policyholders can rely on us for reliable, personal service, security, and peace of mind.

OTHER ARTICLES

3 ways AI is transforming the insurance industry

Article | February 24, 2020

As AI, big data, and the internet of things (IoT) find their way into every aspect of our lives, many industries are undergoing a transformation. “Insurance executives believe that artificial intelligence (AI) will significantly transform their industry in the next three years, with insurers investing in AI to empower agents, brokers and employees to enhance the customer experience with automated personalized services, faster claims handling and individual risk-based underwriting processes,” consulting firm Accenture forecasted in 2017.

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Will COVID-19 Disrupt Insurtech?

Article | March 29, 2020

If there is one thing that we have all learned with the spread of COVID-19, it is that there is virtually no industry that is immune to its impact. The global pandemic is disrupting the daily lives of individuals, the operations of businesses, the activities of governments and even the approach of cherished institutions like museums, universities and religious organizations. The P&C insurance industry, like many others, is reeling from the implications of the virus. Amid the rapid changes, it is important to assess the impact of COVID-19 on the insurtech movement. After all, insurtech has always been touted as the ultimate disruptor of the insurance industry. But, might COVID-19 prove to be a disruptor to insurtech?

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Top 3 Challenges to Data Science and Machine Learning Adoption in Insurance

Article | March 27, 2020

Hiring people with skills in machine learning is extremely difficult across industries due to a shortage of talent and skyrocketing demand. But the insurance industry is better positioned than most to overcome this challenge via upskilling. With tens (possibly hundreds) of statistics-minded actuaries already on staff, providing the right tools to nudge them into the world of data science is a small step. Upskilling business staff is also a great way to fill talent gaps, and in many ways, it’s necessary for insurance businesses that want to democratize data science.

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The economy is slowing down: what does it mean for insurance companies?

Article | April 21, 2020

Since 2010, as countries waded out of the recession of 2008, they enjoyed economic growth. Coupled with technological innovation, the global economy really got a boost. But, mirroring Nature’s cycles, it seems it is now time to hit a plateau and slow down. In this article, we explore why the slowdown could be happening and more importantly, what it means for us in the insurance industry.

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Spotlight

Colonial Penn Life Insurance

For over 50 years, Colonial Penn has specialized in offering life insurance directly to consumers at affordable prices. Through mail, TV, our call center and the web, we focus on providing life insurance protection for folks like you and your loved ones. We strive to live our four core values - Integrity, Customer-Focus, Excellence and Teamwork - in each and every interaction with our customers. Our policyholders can rely on us for reliable, personal service, security, and peace of mind.

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