How Agile Insurers are Improving the Bottom Line

| April 26, 2017

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Without customer-focused initiatives to improve operations in 2013, some insurers may not have a place in the 2014 market, either on Main Street or on the Internet. A market moving toward self-service has brought traditional insurers to a juncture where they must determine where to position their technological investments. Will they be focusing on either agent- or Internet-initiated customer interactions, or both? With the right technology, an insurer does not necessarily have to choose between building person-to-person.

Spotlight

Allstate Benefits

Allstate Benefits, a leading voluntary benefits insurer, was founded in 1956 as American Heritage Life Insurance Company (American Heritage Life) in Jacksonville, Fla. It was acquired in 1999 by The Allstate Corporation (NYSE: ALL), the nations largest publicly held personal lines insurer known for its Youre In Good Hands With Allstate slogan. Allstate Benefits offers a portfolio of products that include universal life, term life, disability income, cancer, accident, heart and stroke, critical illness, hospital indemnity, vision and dental insurance. For more information, visit www.allstatebenefits.com.

OTHER ARTICLES

How Big Data is Impacting Client Expertise in Insurance Industry?

Article | February 19, 2020

Big data has helped the financial services industry, including with the insurance industry, evolve like never before. Maximum count of traditional insurers and insurance corporations are preferring big data analytics to boost client expertise. Moreover, insurers are utilizing massive big data to its fullest capability or are there scope to try and do more? The insurance regulator has already allowed a sandbox, a mechanism to promote and facilitate innovation, and currently, the Federal Reserve Bank of Asian country has planned a sandbox for fintechs. Disha Sanghvi asks specialists if this may cause higher utilization of massive information and a lot of innovation within the insurance space.

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Covid-19 will make cyber and digital insurance policies more relevant than ever

Article | April 17, 2020

Kennedy's Elizabeth Bardsley discusses the risks brokers need to be aware of as more and more professionals work from home as a result of the coronavirus pandemic. As the insurance industry continues to grapple with the Covid-19 pandemic, many have begun to give thought to what lasting changes will stay with us once the crisis has passed. For example, attitudes towards flexible working are expected to permanently change as more and more professionals work from home. And in a similar vein, we are likely to see a significant impact on the popularity of cyber and digital liability policies.

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The Impact of InsurTech on the Property/Casualty Sector

Article | February 20, 2020

The latest figures from a Willis Towers Watson report shows that investment in insurance technology, or InsurTech, reached an all-time high in 2019 at $6.37 billion, with funding in the Property/Casualty sector representing the lion’s share over its Life/Health counterpart. InsurTech is designed to disrupt and change the way the insurance distribution system conducts business, upping the game in delivering tailored product lines, reducing friction in client transactions, providing a better on-line customer experience, and assessing risk scenarios to provide new offerings.

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How Insurance Industry Can Better Leverage the Potentials of Big Data?

Article | March 5, 2020

The insurance sector has largely been driven by data to drive the dynamics of the industry for several years. However, advances in technology now have led to a broad range of solutions to assess large volumes of information for useful patterns. So, in order to succeed and remain competitive in the ever-changing field, insurers are turning to Big Data and analytics. The increasing use of these solutions delivers the capabilities to transform the industry by providing valuable insights into all facets of company operations and performance.

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Spotlight

Allstate Benefits

Allstate Benefits, a leading voluntary benefits insurer, was founded in 1956 as American Heritage Life Insurance Company (American Heritage Life) in Jacksonville, Fla. It was acquired in 1999 by The Allstate Corporation (NYSE: ALL), the nations largest publicly held personal lines insurer known for its Youre In Good Hands With Allstate slogan. Allstate Benefits offers a portfolio of products that include universal life, term life, disability income, cancer, accident, heart and stroke, critical illness, hospital indemnity, vision and dental insurance. For more information, visit www.allstatebenefits.com.

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