Hot Technologies for Life Insurers

Customer churn over lost loyalty and poor customer experiences can cost as much as $470 billion in premiums globally. Increasingly, the insurance customers' buying expectations have shifted, while the industry is rapidly figuring out how to meet the customers where they are. Technology advancements such as data analytics and AI are rapidly being adopted to boost client acquisition, cross-sell and up-sell. Insurers are finding new ways to offer dynamic and personalized recommendations, leverage more data to understand risks, pricing and customized experiences across all channels.

Many companies rely on information contained in a certificate of insurance as proof of insurance coverage, only to find out after it is too late that the information was not accurate or coverage was not in place. Policyholders often furnish third parties with certificates of insurance without considering the effects doing so may have on their coverage. Insurance agents can also be too quick to issue a certificate of insurance, and may face liability or even fines if they are not careful. This topic will help anyone working with certificates of insurance in any field understand what a certificate of insurance is, and what it can and cannot do, and will fully explain the pitfalls of certificates of insurance, and how policyholders, brokers, and third parties seeking coverage under another's policy can get themselves into trouble in requesting, issuing, and relying upon certificates of insurance.

Workers’ compensation claims costs continue to rise, and complexities involving changing compliance regulations, new court decisions, and increasing fraud risk make managing these claims more challenging. But analytics and automation are helping solve these challenges by providing key insights early in the claim process to help improve decision-making.

Get an overview of the newest capabilities for Insurers and MGAs introduced in the latest release of IVANS Exchange. IVANS Exchange provides Insurers and MGAs with a single location to manage your agency download services, measure download adoption against industry average benchmarks and increase data-driven insights on agency partner download opportunities.