How the Insurance Industry Can Improve the Reporting Process

| December 28, 2019

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At a time when every industry is being affected by digital disruption, insurance is facing a sea of change. From new competitors to complex regulatory requirements and the rapid proliferation of data, a myriad of factors is putting pressure on insurers to evolve. Amid this evolution, one part of the business is critical: regulatory compliance and financial reporting.

Spotlight

Arthur Marsh and Son (Birmingham) Ltd

As a third-generation family firm, we share the commitment of the UK’s industrial heartland building trusted business relationships as the chosen Birmingham insurance broker of choice for many businesses. We provide you with the insurance you need – no more, no less. Our professional highly trained team deliver the advice, guidance and support required to help you get this critical decision right.

OTHER ARTICLES

How artificial Intelligence is changing insurance

Article | April 4, 2020

Here, we present the global megatrends that risk disrupting the insurance industry, and look at some of the insurtechs using AI to succeed Insurance is an industry that thrives on predictability. The more certain the outcome, the more insurance firms can be sure to offer fair rates and generate value for customers and shareholders alike. As such, it’s an industry that has been slow to adopt new technologies and adapt to global change. Today, however, change is here, and more is on the way.

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Business insurance coverage in the COVID-19 era

Article | April 4, 2020

Businesses globally are reeling from the multiple impacts of COVID-19: lost revenue, expanded workers’ compensation claims, and potential third-party liability, to name a few. As the losses grow and uncertainty continues, businesses are turning to their insurers for coverage. Whether and to what extent coverage will be available will depend on the facts, the science, the law, the policy, and, inevitably, the courts.

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How is automation changing the way insurance companies work?

Article | April 4, 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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Will COVID-19 Disrupt Insurtech?

Article | April 4, 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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Spotlight

Arthur Marsh and Son (Birmingham) Ltd

As a third-generation family firm, we share the commitment of the UK’s industrial heartland building trusted business relationships as the chosen Birmingham insurance broker of choice for many businesses. We provide you with the insurance you need – no more, no less. Our professional highly trained team deliver the advice, guidance and support required to help you get this critical decision right.

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