INSURANCE PROTECTION FOR A RAINY DAY

LUCIAN MCMAHON | June 17, 2019 | 155 views

June weather in New York City can be fickle. As the I.I.I.s own Brent Carris reported, this fickleness can lead to chaos for the citys outdoor music festivals, like the recent fiasco at this years Gov Ball. Carris noted that event organizers will often have event cancellation insurance to protect themselves financially.

Spotlight

The Content Advisory

Content is everything the business creates in order to communicate. In today’s world, the way we communicate is the only thing that separates us from the next: The next click, the next competitor, the next answer. TCA – The Content Advisory is a consulting and training company; blending the art and science of intelligent content to help today’s modern business communication’s strategy.

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INSURANCE TECHNOLOGY

How InsurTech-Insurance Partnership Delivers New Product Innovations

Article | July 14, 2022

In 2019, InsurTech funding reached $6 billion, acknowledging the pace that technology can bring to overcome the age-old Insurance problems, the State of AI in Insurance 2020 says. While Incumbents are known for their core competencies in end-to-end insurance processes (from underwriting to claims settlement and reinsurance), InsurTechs are enticing millennials with fully digital innovative products and solutions.

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CORE INSURANCE, RISK MANAGEMENT

The role of AI in enhancing claims experience for Insurance customers

Article | August 4, 2022

Insurance customers are most vulnerable when they file a claim. Be it life or general insurance, claims are filed in distress. This is also a critical moment for Insurers. The claims experience they deliver determines customer loyalty, which also influences referral customers in the long run. In the Insurance industry, where products and pricing among the competitors are almost the same, customer experience becomes the main differentiator.

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CORE INSURANCE, RISK MANAGEMENT

5 Deep Learning Use Cases for the Insurance Industry

Article | September 22, 2022

In 2010, with the launch of the Image Net Competition, a vast dataset of about 14 million labeled images was made open-source to inspire the development of cutting-edge image classifiers. This was when Deep Learning technology got it’s a real breakthrough and since then there’s been no looking back for advancements in this field.

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DOES YOUR INSURANCE COMPANY ACTUALLY NEED BLOCKCHAIN RIGHT NOW?

Article | February 10, 2020

Blockchain has great potential to create value for insurance organizations. But these are the three questions to ask before you make the investment. In my last post, I spoke about why teamwork is the key to unlocking blockchain’s true value. Today I want to talk about the key things to consider before pulling the trigger on investing in blockchain. Not because I want to deter you, but because it might not be the right solution for you at this time.

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Spotlight

The Content Advisory

Content is everything the business creates in order to communicate. In today’s world, the way we communicate is the only thing that separates us from the next: The next click, the next competitor, the next answer. TCA – The Content Advisory is a consulting and training company; blending the art and science of intelligent content to help today’s modern business communication’s strategy.

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CORE INSURANCE, RISK MANAGEMENT

Inszone Insurance Services Expands Geographic Footprint with Acquisition of Starline Insurance Group

Businesswire | June 05, 2023

Inszone Insurance Services, a rapidly growing national provider of benefits, personal, and commercial lines insurance, announced today that they have acquired Starline Insurance Group, out of San Jose, CA. Starline Insurance Group, a Bay Area agency, has been delivering exceptional risk management solutions to its clientele, ever since its acquisition by the current owners, Corey Ebadat and Benjamin Lundgren. With a distinguished reputation for exceptional service within the insurance sector, this acquisition is set to bolster the resources available to Starline clients, while simultaneously augmenting the expert team at Inszone Insurance Services, who are dedicated to maintaining the highest standard of customer service and client support. "It's a significant moment for us as Starline Insurance becomes an integral part of the Inszone family," said Chris Walters, CEO of Inszone Insurances. “Leveraging their comprehensive expertise in personal and commercial insurance, intertwined with our vast resources and robust carrier relationships, we're poised to redefine the way we create value for our clients throughout California. This strategic move marks an exciting chapter in our growth story." The integration of Starline Insurance Group into Inszone Insurance Service's operations is expected to be seamless, and clients can expect continued access to the same high-quality insurance products and services they have come to expect, now with access to more resources and multiple physical office locations. About Inszone Insurance Services Founded in 2002 and headquartered in Sacramento, California, Inszone is a full-service insurance brokerage firm that provides a broad array of property & casualty insurance, along with employee benefits solutions. With a strong, experienced management team, Inszone continues to grow organically, as well as through acquisitions. With 42 locations across California, Arizona, Nevada, Utah, Colorado, Michigan, Missouri, Oregon, Texas, and Illinois, the company is looking to further expand throughout the United States.

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CORE INSURANCE, COMPLIANCE

Clearcover Continues to Invest in the Agency Distribution Channel

PRnewswire | June 02, 2023

Clearcover, the next-generation car insurance company, today announced that it recently launched the Clearcover Agent Hub, its reimagined agent resource center in its ongoing effort to bolster the agent distribution channel. Designed to empower agents to better serve their customers and sell Clearcover policies with ease, the Agent Hub offers an innovative experience that supports agents through onboarding, answers frequently asked questions and offers ongoing support and education. "Providing agents with educational resources and simple sales tools is a top priority," said Clearcover CEO Kyle Nakatsuji. "We're continuing to analyze data and listen to customer and agent feedback in our efforts to deliver the best experience in the industry." One of the more notable enhancements in the Clearcover Agent Hub is a reimagined onboarding process for agents to sell with ease and confidence. The dedicated resource serves as a way for agents to learn more about Clearcover at their own pace, including general company information, products and services, and how to start selling policies. "Clearcover already gave us a competitive product that agents can leverage to sell more business more efficiently, and now they've made the process even easier with the new Agent Hub," said Brightway Agency Owner and Clearcover Agent Gary Silverman. "It's truly a one-stop shop to help us grow our business." In addition to onboarding, the Agent Hub also provides an array of updated digital resources, such as new videos, relevant articles and enhanced training content. As Clearcover builds momentum and innovation in the channel, it is also working on rolling out an agent-centric rewards initiative. The launch of Clearcover Agent Hub comes shortly after the company announced it has teamed up with Experian to provide an embedded insurance solution as part of its ongoing effort to expand its distribution channels. About Clearcover Clearcover is the next-generation insurance company that provides customers with the technology they need to confidently make the smartest decisions at every step. Clearcover is challenging the status quo with hassle-free insurance that redefines what it means to put the customer first, delivering affordable car insurance with one of the industry's fastest claims experiences. Clearcover includes Clearcover, Inc., which was founded in 2016 by Kyle Nakatsuji and Derek Brigham, Clearcover Insurance Company (NAIC #16524) and Clearcover Insurance Agency. Clearcover has raised more than $480 million in funding to date. In 2022, the insurance fintech ranked No.50 on the Deloitte Technology Fast 500™ and No. 151 on the Inc. 5000 Fastest Growing Privately Held Companies in America. Clearcover has also been featured by Glassdoor as one of the nation's "Best Places to Work." For more information, visit Clearcover.com.

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LIFE INSURANCE, INSURANCE TECHNOLOGY

Empathy and Majesco Partner to Provide Innovative Tech to Benefit Life Insurance Carriers and Beneficiaries

Businesswire | June 01, 2023

Majesco, a global leader of cloud insurance software solutions for insurance business transformation, today announced a new partnership with Empathy, the innovator behind the leading platform that helps families navigate the emotional and logistical challenges of loss. This partnership will provide life insurers with tech-powered services to aid them in delivering comprehensive bereavement support to beneficiaries. Empathy’s recently published installment of its annual Cost of Dying Report sheds light on the financial and emotional demands of loss, finding that the average bereaved family spends close to $5,000 on all legal matters, yet under 15% of these families have access to life insurance or dedicated funds to settle the estate. The strain faced by bereaved families presents both a challenge and an opportunity for life insurance carriers, as they work with families struggling through these burdens every day. Insurance providers are in a unique position to go beyond a financial payout and act as a source of support, guidance, and information for grieving beneficiaries. “If you want to build a relationship of trust and generational loyalty with beneficiaries, the first step is providing valuable support that acknowledges the nature and significance of the burden they face,” said Ron Gura, Co-Founder & CEO of Empathy. “Our experience has taught us that the burden of loss is both broad and deep, and life insurers can play a leading role in supporting bereaved families as they navigate emotional and logistical challenges. Partnering with industry leaders like Majesco further simplifies the implementation of our services with insurers of all sizes, meeting beneficiaries where they are. Together, we are transforming transactions into relationships and sticking around with families in the days, weeks, and months following their loss.” Both Empathy and Majesco provide unique solutions for insurance companies seeking to better support their beneficiaries. Over 350 insurers, from startups to some of the world’s largest insurance companies, use Majesco’s SaaS solutions to anticipate what’s next and deliver customized experiences that customers rely on. Empathy’s bereavement care platform accentuates that support, ensuring that beneficiaries have access to comprehensive grief care and helping them wind down their loved one’s affairs with full administrative assistance. “The life, annuity and health market is evolving in its understanding of ways in which insurance providers can improve operationally and create long-term value for beneficiaries especially during their most difficult and critical moments,” said Ray Law, SVP & GM of Products at Majesco. “As a company focused on delivering outstanding experiences for customers, we pride ourselves on selecting innovative partners like Empathy to maximize the support we are able to offer to the people we serve.” About Empathy Empathy is the comprehensive support system for loss, offering bereaved families holistic guidance and care for all of the administrative, emotional, legal, and financial challenges they face after their loved one passes away. Empathy's award-winning app and care team are trusted by leading employers and insurance carriers to support their employees and beneficiaries through life's greatest challenges, saving them time, money, and stress. Headquartered in New York and recognized as a Top Digital Health Company by CB Insights, as well as a Most Innovative Company by FastCompany, Empathy has raised $43 million in funding from leading investors including General Catalyst, Aleph VC, and Entrée Capital. To learn more about Empathy, visit us at empathy.com. About Majesco Majesco is the partner P&C and L&AH insurers choose to create and deliver outstanding experiences for customers. We combine our technology and insurance experience to anticipate what’s next, without losing sight of what’s important now. Over 330 insurers, from greenfields and startups to some of the world’s largest insurers, rely on Majesco’s SaaS platforms solutions of core, data, analytics, digital, and rich ecosystem of partners to create their next now. As an industry leader, we don’t believe in managing risk by avoiding change. We embrace change, even cause it, to get and stay ahead of risk. With 825+ successful implementations we are uniquely qualified to bridge the gap between a traditional insurance industry approach and a pure digital mindset. We give customers the confidence to decide, the products to perform, and the follow-through to execute.

Read More

CORE INSURANCE, RISK MANAGEMENT

Inszone Insurance Services Expands Geographic Footprint with Acquisition of Starline Insurance Group

Businesswire | June 05, 2023

Inszone Insurance Services, a rapidly growing national provider of benefits, personal, and commercial lines insurance, announced today that they have acquired Starline Insurance Group, out of San Jose, CA. Starline Insurance Group, a Bay Area agency, has been delivering exceptional risk management solutions to its clientele, ever since its acquisition by the current owners, Corey Ebadat and Benjamin Lundgren. With a distinguished reputation for exceptional service within the insurance sector, this acquisition is set to bolster the resources available to Starline clients, while simultaneously augmenting the expert team at Inszone Insurance Services, who are dedicated to maintaining the highest standard of customer service and client support. "It's a significant moment for us as Starline Insurance becomes an integral part of the Inszone family," said Chris Walters, CEO of Inszone Insurances. “Leveraging their comprehensive expertise in personal and commercial insurance, intertwined with our vast resources and robust carrier relationships, we're poised to redefine the way we create value for our clients throughout California. This strategic move marks an exciting chapter in our growth story." The integration of Starline Insurance Group into Inszone Insurance Service's operations is expected to be seamless, and clients can expect continued access to the same high-quality insurance products and services they have come to expect, now with access to more resources and multiple physical office locations. About Inszone Insurance Services Founded in 2002 and headquartered in Sacramento, California, Inszone is a full-service insurance brokerage firm that provides a broad array of property & casualty insurance, along with employee benefits solutions. With a strong, experienced management team, Inszone continues to grow organically, as well as through acquisitions. With 42 locations across California, Arizona, Nevada, Utah, Colorado, Michigan, Missouri, Oregon, Texas, and Illinois, the company is looking to further expand throughout the United States.

Read More

CORE INSURANCE, COMPLIANCE

Clearcover Continues to Invest in the Agency Distribution Channel

PRnewswire | June 02, 2023

Clearcover, the next-generation car insurance company, today announced that it recently launched the Clearcover Agent Hub, its reimagined agent resource center in its ongoing effort to bolster the agent distribution channel. Designed to empower agents to better serve their customers and sell Clearcover policies with ease, the Agent Hub offers an innovative experience that supports agents through onboarding, answers frequently asked questions and offers ongoing support and education. "Providing agents with educational resources and simple sales tools is a top priority," said Clearcover CEO Kyle Nakatsuji. "We're continuing to analyze data and listen to customer and agent feedback in our efforts to deliver the best experience in the industry." One of the more notable enhancements in the Clearcover Agent Hub is a reimagined onboarding process for agents to sell with ease and confidence. The dedicated resource serves as a way for agents to learn more about Clearcover at their own pace, including general company information, products and services, and how to start selling policies. "Clearcover already gave us a competitive product that agents can leverage to sell more business more efficiently, and now they've made the process even easier with the new Agent Hub," said Brightway Agency Owner and Clearcover Agent Gary Silverman. "It's truly a one-stop shop to help us grow our business." In addition to onboarding, the Agent Hub also provides an array of updated digital resources, such as new videos, relevant articles and enhanced training content. As Clearcover builds momentum and innovation in the channel, it is also working on rolling out an agent-centric rewards initiative. The launch of Clearcover Agent Hub comes shortly after the company announced it has teamed up with Experian to provide an embedded insurance solution as part of its ongoing effort to expand its distribution channels. About Clearcover Clearcover is the next-generation insurance company that provides customers with the technology they need to confidently make the smartest decisions at every step. Clearcover is challenging the status quo with hassle-free insurance that redefines what it means to put the customer first, delivering affordable car insurance with one of the industry's fastest claims experiences. Clearcover includes Clearcover, Inc., which was founded in 2016 by Kyle Nakatsuji and Derek Brigham, Clearcover Insurance Company (NAIC #16524) and Clearcover Insurance Agency. Clearcover has raised more than $480 million in funding to date. In 2022, the insurance fintech ranked No.50 on the Deloitte Technology Fast 500™ and No. 151 on the Inc. 5000 Fastest Growing Privately Held Companies in America. Clearcover has also been featured by Glassdoor as one of the nation's "Best Places to Work." For more information, visit Clearcover.com.

Read More

LIFE INSURANCE, INSURANCE TECHNOLOGY

Empathy and Majesco Partner to Provide Innovative Tech to Benefit Life Insurance Carriers and Beneficiaries

Businesswire | June 01, 2023

Majesco, a global leader of cloud insurance software solutions for insurance business transformation, today announced a new partnership with Empathy, the innovator behind the leading platform that helps families navigate the emotional and logistical challenges of loss. This partnership will provide life insurers with tech-powered services to aid them in delivering comprehensive bereavement support to beneficiaries. Empathy’s recently published installment of its annual Cost of Dying Report sheds light on the financial and emotional demands of loss, finding that the average bereaved family spends close to $5,000 on all legal matters, yet under 15% of these families have access to life insurance or dedicated funds to settle the estate. The strain faced by bereaved families presents both a challenge and an opportunity for life insurance carriers, as they work with families struggling through these burdens every day. Insurance providers are in a unique position to go beyond a financial payout and act as a source of support, guidance, and information for grieving beneficiaries. “If you want to build a relationship of trust and generational loyalty with beneficiaries, the first step is providing valuable support that acknowledges the nature and significance of the burden they face,” said Ron Gura, Co-Founder & CEO of Empathy. “Our experience has taught us that the burden of loss is both broad and deep, and life insurers can play a leading role in supporting bereaved families as they navigate emotional and logistical challenges. Partnering with industry leaders like Majesco further simplifies the implementation of our services with insurers of all sizes, meeting beneficiaries where they are. Together, we are transforming transactions into relationships and sticking around with families in the days, weeks, and months following their loss.” Both Empathy and Majesco provide unique solutions for insurance companies seeking to better support their beneficiaries. Over 350 insurers, from startups to some of the world’s largest insurance companies, use Majesco’s SaaS solutions to anticipate what’s next and deliver customized experiences that customers rely on. Empathy’s bereavement care platform accentuates that support, ensuring that beneficiaries have access to comprehensive grief care and helping them wind down their loved one’s affairs with full administrative assistance. “The life, annuity and health market is evolving in its understanding of ways in which insurance providers can improve operationally and create long-term value for beneficiaries especially during their most difficult and critical moments,” said Ray Law, SVP & GM of Products at Majesco. “As a company focused on delivering outstanding experiences for customers, we pride ourselves on selecting innovative partners like Empathy to maximize the support we are able to offer to the people we serve.” About Empathy Empathy is the comprehensive support system for loss, offering bereaved families holistic guidance and care for all of the administrative, emotional, legal, and financial challenges they face after their loved one passes away. Empathy's award-winning app and care team are trusted by leading employers and insurance carriers to support their employees and beneficiaries through life's greatest challenges, saving them time, money, and stress. Headquartered in New York and recognized as a Top Digital Health Company by CB Insights, as well as a Most Innovative Company by FastCompany, Empathy has raised $43 million in funding from leading investors including General Catalyst, Aleph VC, and Entrée Capital. To learn more about Empathy, visit us at empathy.com. About Majesco Majesco is the partner P&C and L&AH insurers choose to create and deliver outstanding experiences for customers. We combine our technology and insurance experience to anticipate what’s next, without losing sight of what’s important now. Over 330 insurers, from greenfields and startups to some of the world’s largest insurers, rely on Majesco’s SaaS platforms solutions of core, data, analytics, digital, and rich ecosystem of partners to create their next now. As an industry leader, we don’t believe in managing risk by avoiding change. We embrace change, even cause it, to get and stay ahead of risk. With 825+ successful implementations we are uniquely qualified to bridge the gap between a traditional insurance industry approach and a pure digital mindset. We give customers the confidence to decide, the products to perform, and the follow-through to execute.

Read More

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