SMB INSURANCE CUSTOMERS: GROWTH OPPORTUNITIES GROUNDED IN GRIT AND RESILIENCE

Unless you collect the same item or have an interest in the same hobby as an insured, you may be asked to insure items about which you have little first-hand knowledge. Every homeowners policy has limitations that apply to certain classes of personal property and liability arising out of activities in which an insured may be involved. Examine the difference in valuation methods based on Actual Cash Value, Replacement Cost, and Agreed Value. Evaluate significant differences in the level of protection for owned versus non-owned motorized "toys" under a homeowners policy. Examine how a personal umbrella policy can help fill in the potential coverage gaps.

The most disruptive changes in the insurance industry will be led by the advances in and utilization of key technologies. Primarily, it will include the adaptation of AI to create desirable products, harness insights from new data sources, optimize processes and costs, and improve customer experiences. According to a recent Accenture report:Digital transformation grants insurance companies exceptional capabilities. But it also creates enormous expectations.Amid these rising expectations, insurers are investing in digital technologies, raising the question of how leaders will set themselves apart.Insurers looking to differentiate themselves must be aware of technology trends that will characterize the post-digital future.

Tech-savvy customers expect insurers to offer digital access to services. Those who don’t are putting their business at risk. View the on-demand webinar, “Winning New Customers with Better Service: A Real-Life Case Study of Digital Transformation,” to learn how The Hartford digitized and simplified their surety application process

As cyber insurance underwriting evolves, balancing information requirements and pragmatic market dynamics is essential. Risks and organizations change rapidly and knowing the right questions to ask, along with providing the right threat insights, makes the process run smoother for brokers, insurers, and their clients. On Thursday, September 7, Advisen’s Erin Ayers, Symantec’s Nikon Rasumov, and other panelists discussed the best ways to present better risk profiles for your cyber clients and improve the effectiveness of placing cyber insurance, for all parties involved.