AI: Here's what insurance industry executives think

July 16, 2019

Artificial intelligence (AI) is poised to be a major insurance-industry disruptor. Here’s how executives in the sector view this emerging technology, based on research from the recent Cognizant report “The Insurance AI Imperative.”

Spotlight

AAA Life Insurance Company

2019 marks the 50th anniversary of AAA Life Insurance Company. Headquartered in Livonia, Michigan, AAA Life has been offering AAA members peace of mind through our life insurance, accident and annuity products. Our products can be purchased online, over the phone, by mail or through an agent—making the purchasing process easy and convenient. We give special attention to every one of our 1.3 million active policy holders, which has earned us a reputation for outstanding customer service. As of August 1, 2018, AAA Life has been rated A (Excellent) by the credit rating agency A.M. Best (the third-highest rating out of 13), reflecting our financial strength and longevity. Life insurance underwritten by AAA Life Insurance Company, Livonia, MI. AAA Life Insurance Company (CA Certificate of Authority #07861) is licensed in all states except NY.

Other Infographics
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Interesting cyberattacks of 2019 that all reinsures Should Know About

Infographic | January 23, 2020

With the number of cyber-attacks on the rise, it’s natural to think that this increase of cyber-attacks is due to new actors and technological developments, said Yakir Golan, the CEO of Kovrr, the Tel Aviv-based provider of predictive cyber risk modeling solutions. “The truth of the matter is, cyber attacks are very often a modified version of an old attack. Whether it’s the same attack vector, same tools or the same vulnerability with a new exploitation, similar types of attacks, methods and techniques are likely to reappear in the near future and re/insurers should be prepared and on the lookout for how they can affect their portfolios,” added Golan.

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The Growing Importance of Insurance BPO Services in 2021

Infographic | August 25, 2021

Emerging from a prevailing pandemic, the industry has to face few upfront hallenges. Some of these include risk management, claims management in the backdrop of the Covid 19 pandemic, digital innovation etc. These challenges will prompt the relevance of insurance BPO in 2021. In this infographic, we look at the role of BPOs inghe insurance sector this year.

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DISRUPT OR BE DISRUPTED: Clearing the Path to Digital Transformation

Infographic | January 24, 2020

Digital transformation in the insurance industry is real, led by InsurTech startups that are demonstrating how the creative application of innovative technology can deliver the products, services and overall experience customers want from every business they connect with. Agents and employees, as well, want a modern way to access, share and work with information, and a complete view of their customers at any time.

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Travel Insurance claims – the path to perfect policy payout

Infographic | December 26, 2019

From time to time holidays don’t go to plan, baggage goes missing, flights are delayed or people are unwell, all of which mean it’s time to claim on your travel insurance policy.

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WHY CUSTOMER EXPERIENCE MATTERS FOR INSURANCE COMPANIES

Infographic | February 25, 2020

Customer experience (CX) has risen to a new level of importance in the insurance industry. Sure, customers still value price — but it’s not the only consideration. They also want a brand that builds trust and shows they care about their customers. In fact, a recent study by Accenture found that 46% of insurance respondents are "Quality Seekers.” These customers value superior service, automated transactions and personalization.

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WHAT ACCOUNTS FOR THE GROWTH IN PRIVATE HEALTH INSURANCE SPENDING?

Infographic | March 5, 2020

Hospital care is the largest contributor to commercial health insurance spending growth - 42% of the increase since 2016. The growth in spending due to hospitals is more than twice that of the growth due to physician services and administrative costs, and ten times that of prescription drugs and nursing care. Efforts to control spending should consider how drivers of spending growth are linked to better patient care and chronic disease management.

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Spotlight

AAA Life Insurance Company

2019 marks the 50th anniversary of AAA Life Insurance Company. Headquartered in Livonia, Michigan, AAA Life has been offering AAA members peace of mind through our life insurance, accident and annuity products. Our products can be purchased online, over the phone, by mail or through an agent—making the purchasing process easy and convenient. We give special attention to every one of our 1.3 million active policy holders, which has earned us a reputation for outstanding customer service. As of August 1, 2018, AAA Life has been rated A (Excellent) by the credit rating agency A.M. Best (the third-highest rating out of 13), reflecting our financial strength and longevity. Life insurance underwritten by AAA Life Insurance Company, Livonia, MI. AAA Life Insurance Company (CA Certificate of Authority #07861) is licensed in all states except NY.

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