INSURANCE TECHNOLOGY

Battleface Announced the Launch of its Partnership with TripActions

Battleface | April 29, 2022

Battle_face_Announced
Battleface announced the launch of its partnership with TripActions, which is an all-in-one travel, corporate card, and expense management solutions providing company. TripActions helps companies and their employees’ traveling management in terms of expenditure, safety, accounts and drives productivity.

The novel collaboration brings Battleface with TripActions to provide a more user-friendly travel security expertise. Customers can now access highly customizable travel insurance options through the Battleface Discovery product. The product range would cover all the expenses and an exclusive elevated Rental Car Injury safety provision. TripActions vacationers can also benefit from the partnership by receiving advanced customer service and assistance.

We are delighted to join forces with TripActions' innovative team. The new modular travel insurance option will give TripActions' Lemonade users the ability to protect their trip with vast relevant coverage options tailored to each traveler's specific needs. This will ultimately be saving money by eliminating unwanted and unnecessary benefits."

Alex Lazcano, Battleface's director of partnerships.

We are excited to propose TripActions users a customizable travel insurance offering in collaboration with Battleface. This offering enhances our users' personal travel experiences and gives them additional peace of mind related to their next adventure in protecting by cutting-edge insurance technology."

Laura Mighdoll, TripActions' Director of Partner Marketing.

Spotlight

Choose a homeowners policy that covers 100 percent of the replacement cost, not only market value. Unfortunately, in some areas, older homes have a market value that is substantially below the replacement cost. Don’t be caught with an inadequate policy.

Spotlight

Choose a homeowners policy that covers 100 percent of the replacement cost, not only market value. Unfortunately, in some areas, older homes have a market value that is substantially below the replacement cost. Don’t be caught with an inadequate policy.

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LIFE INSURANCE

Kinly and Haven Life Partners to Make Term Life Insurance More Accessible to African-Americans

Haven Life | June 03, 2022

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INSURANCE TECHNOLOGY

P&C Insurer Digital Investments Cannot Offset Rising Rates, Finds J.D.Power

P&C | May 30, 2022

Rising rates have overwhelmed the simplified user experience, smooth customer service, and enhanced navigation that were intended to define the digital revolution of the property and casualty (P&C) insurance industry—and boost consumer happiness. The J.D. Power 2022 U.S. Insurance Digital Experience StudySM released, shows that even though insurers have put a lot of money into websites and mobile apps for customers, customer satisfaction with insurers' digital services is going down this year. Although insurers keep upping the ante on technology, improvements are being offset by frustration among customers who are going online to shop for a better rate—and not finding one. We’re also seeing a clear trend in which more than half of digital insurance shoppers choose not to use digital tools or educational resources to help them through the shopping process. This further exacerbates the decline in customer satisfaction.” Robert M. Lajdziak, Director of Insurance Intelligence at J.D. Power. The research, which was updated this year, assesses digital consumer experiences among both P&C insurance purchasers seeking quotations and existing customers performing routine policy-servicing tasks. The study looks at four elements that affect the functionality of desktop, mobile web, and mobile apps: ease of navigation, speed, visual appeal, and information/content. Corporate Insight, a renowned provider of competitive intelligence and user experience research to the financial services and healthcare industries, collaborated on the project. Key findings of the 2022 studies are as follows: Customer satisfaction with the P&C insurer's digital purchasing experience is only 499 out of 1,000, down 16 points from a year ago. Overall, customers are satisfied with their digital service experience at 705, down one point from 2021. Customer dissatisfaction with escalating rates and the inability to obtain premium cost relief by searching for a new policy is driving the fall in shopping satisfaction. Digital shopping tools, which help insurance consumers find discounts, policy details, and specific coverage or unique advantages, are linked to a satisfaction rise of 137-211 points, depending on which shopping tool is utilized. However, during their quotation requests, 54% of insurance shoppers did not use any shopping tools. The study reveals considerable discrepancies in mobile app performance when it comes to account service. The average satisfaction score for the top 25% of respondents who use a mobile app is 885, which is much higher than any other channel. However, satisfaction with a mobile app among the bottom 25% of respondents drops 358 points to 527. Traditional insurers and digital native InsurTech firms both have similar levels of consumer satisfaction with digital account servicing. Traditional carriers make up the difference with better information/content and access to human support when customers need it. While InsurTechs outperform on speed and visual appeal metrics, traditional carriers make up the difference with better information/content and access to human support when customers need it.

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INSURANCE TECHNOLOGY

OpenSpace Collaborates with Shepherd to Provide Qualified Construction Customers with Lower Insurance Premiums

OpenSpace | June 23, 2022

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