How far have financial service providers and insurers got with this?

June 3, 2019

Insurance has been around for some three millennia and is intended to cover the financial consequences of a risk that a policyholder is unable or unwilling to accept. Insurance is usually not ‘top of mind’, but it is important. Particularly at the point when a claim is made. And at that point, a policyholder or insured person expects a rapid and good resolution. We now live in a world in which new technologies are making their entrance in rapid succession, particularly in relation to digital transformation. Everything needs to be done faster and better but how far have financial service providers and insurers got with this so far? Onguard carried out research into how finance professionals working in the insurance industry and financial services view the current trends and developments.

Spotlight

Leavitt Group

As one of the top privately-held insurance brokerages in the nation, we bring you the national resources, expertise, problem-solving skills, and key insurance company and underwriting relationships that will result in an effective risk management and employee benefits strategy.

Other Infographics
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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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CYBER INSURANCE DRIVERS OF LOSS

Infographic | January 8, 2020

The technology risks and manifestations are potentially interconnected, e.g. a breach could be caused by a staff error which leads to extortion which rejected leads to interruption.

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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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Most Expensive Home Insurance Claims

Infographic | December 14, 2019

Lancaster insurance agency, Martin Insurance, shares an infographic on the most expensive home insurance claims.

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Insurers and Consumers in Covid-19 Markets: Too Many Missed Connections

Infographic | April 14, 2021

Although the covid19 spread and the subsequent lockdown imposed will adversely impact the life insurers business in the short term, but with likely a change in consumer behavior and rise in demand for pure protection products given the uncertaninties, the medium term to long term impact may turn out to be positive for them. Insurers can do more to retain customers who are looking to switch providers.

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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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Spotlight

Leavitt Group

As one of the top privately-held insurance brokerages in the nation, we bring you the national resources, expertise, problem-solving skills, and key insurance company and underwriting relationships that will result in an effective risk management and employee benefits strategy.

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