How to Find Life Insurance As A Scuba Diver

| April 25, 2019

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Oxygen tanks and regulators, buoyancy compensators, wearable computers to track depth and surroundings — scuba divers need a lot of expensive gear. Then, when they apply for life insurance to help protect their families from financial uncertainty, scuba divers tend to pay higher life insurance premiums. If you love scuba diving but also want affordable life insurance to protect your family, you’ll need to explore the market more carefully. The Dangers of Scuba Diving. On the surface, scuba diving may not seem all that dangerous, especially when compared to hobbies like extreme rock climbing, drag racing, or skydiving. A variety of dangers lurk beneath the surface, though: Pulmonary Embolism: This is medical speak for blood clots. The changing gas pressures as you ascend to the surface, especially if you come up too quickly, can create a pulmonary embolism. Depending on its location in your bloodstream, a PE can be fatal.

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American Modern Insurance Group

American Modern companies provide insurance solutions for customers who need coverage not readily found in the general market. American Modern is widely recognized as a leader in this “specialty market.” Through strong relationships with our agent partners, we protect classic cars, motorcycles, boats and yachts, and, in the residential sector, rental property (short-term and 12-month), vacant property, owner-occupied homes, vacation homes, and manufactured homes.

OTHER ARTICLES

Coronavirus and insurance: threat or opportunity?

Article | April 17, 2020

The world is facing an unprecedented situation like never before. In the span of a couple of weeks, a visually undetectable virus has wreaked havoc and driven everyone home. COVID-19 had led offices to close, the economy to slow down, and has isolated us in our homes. Zooming in on the insurance industry, the effects haven’t gone unnoticed here either. Since no one was prepared for a pandemic of this scale, people are scrambling to know what their insurance covers. Those who weren’t covered are enquiring if they can get covered now. Travel and health insurance are the specific types are making the most news.

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What’s Driving Innovation and Transformation in Insurance?

Article | April 17, 2020

According to Gartner analyst Kimberly Harris-Ferrante, in the report Innovation Insight for Artificial Intelligence in Life and P&C Insurance*, “Adoption and maturity of AI are increasing among insurance early adopters as they test new use cases and technologies. Insurance CIOs can benefit from greater awareness of AI fundamental use cases and the impact of AI to help guide innovation.” At Shift, we couldn’t agree more.

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How technology will transform life insurance

Article | April 17, 2020

Do you know what the UK insurance industry is going through? A disruption that calls for complete metamorphosis. Not so different from what the whole world is going through at the moment. Crafting one-size-fits-all products and expecting them to sell like hotcakes is a huge misconception. Customers want products to be as personalised as possible. Pay per mile insurance or lower car insurance premiums for safe drivers are some examples. In the current global crisis, personalised life insurance would look like factoring in the unique health/ living conditions of the person and then providing insurance options.

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CORE INSURANCE

Advancement of Technology in the Insurance Industry

Article | April 17, 2020

In the 21st century, we have witnessed high technological advancement. Just like any other industry, the insurance sector is transforming at a rapid speed. With the changes in demands and expectations of customers, insurers are seeking digital innovation and transformation that not only meet the requirements but also reduces their costs. So, here are a few that are set to engulf the entire industry for the better. These tech trends will help both insurers and customers to achieve what matters the most efficiently. Artificial intelligence For Process Improvement AI tends to disrupt the insurance industry more than any other technology. The main advantages that insurers can claim with AI include reduced claim costs, identifying insurance fraud, and mining voice data for improved customer service. The more an insurer will understand and use this technology, the better they will survive the competition. Customers usually look for a personalized experience when it comes to buying something especially as crucial as insurance. Artificial Intelligence provides the ability to create a personalized experience for a vast amount of users based on the data collected. It also enables fast data access and rapid reporting by removing the human element from the process. Blockchain for Secured Records With the amount of security required in the insurance records and claims, blockchain seems to be the most powerful technology for the upcoming revolution. The thriving technology behind the cryptocurrency has become the center of attention for insurance enterprises. Blockchain having the capability to encrypt all the data can decrease the number of fraudulent transactions, loss of data, and scams. IoT For Protecting Investment IoT (Internet of Things) is a technology trend that can be used to connect different objects to the internet. Be it a car, smartwatch, or a refrigerator. For insurance companies, it can be the most awaited blessing as IoT can help in detecting any problem before the actual damage take place. With the help of this technology, insurers can alert the customers in advance about the problems they might face through vehicle tracking, biometrics, and weather sensing. All of this makes it a win-win situation for both consumers and insurers. Automation For Ease of Verification Automation along with machine learning will drive better efficiency in the insurance sector. Having the intelligent system as support, insurers are exploring the more complex processes that can be automated. Some of which entails verification and approval of claims, customized interactions with customers, acquiring insights of the customers, property assessments, and detection of fraud. Adopt New Tech To Succeed As the competitors of insurance companies are moving ahead, more organizations need to adopt these emerging technologies. Moreover, techs like blockchain and automation are ready to provide more efficient processes. On the other hand, AI and IoT will help in offering personalized experiences while lowering the cost. Besides, a company or insurer can also hire developers to develop their system or application that can provide all the customization and security needed in the processing.

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Spotlight

American Modern Insurance Group

American Modern companies provide insurance solutions for customers who need coverage not readily found in the general market. American Modern is widely recognized as a leader in this “specialty market.” Through strong relationships with our agent partners, we protect classic cars, motorcycles, boats and yachts, and, in the residential sector, rental property (short-term and 12-month), vacant property, owner-occupied homes, vacation homes, and manufactured homes.

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