Successfully Automating Small Business Underwriting

Verisk

Insurance is perceived, rightly or wrongly, as an industry that can be slow to innovate and automate. Although many insurance companies would hope to be well on their way to automating their underwriting and binding processes to better serve small businesses and the middle market, the reality is that progress in this area is a mixed bag. Some insurance carriers have fully automated their small business underwriting and are reaping the benefits.
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Spotlight

The insurance sector is currently facing pressures from several sides. Among the latest challenges are new regulatory frameworks, the inflow of alternative capital, and the ongoing low-interest-rate environment. An even more groundbreaking transformation, however, will be brought about by the successively advancing digitization of the industry. In combination with substantial changes in customer needs and demands, new technologies are beginning to intensify competition to erode margins. Faster offers, a higher transparency and comparability, more personalized services, and a simplified claims process are swiftly becoming essential success factors.

OTHER ON-DEMAND WEBINARS

Using Continuous Digital Underwriting For Small Business WC Insurance

riskandinsurance

The facts are clear. Small businesses comprise the vast majority of commerce conducted in the United States. Looking at just one line, they represent billions in workers compensation insurance premium, much of it untapped.Insurers competing in the workers compensation space for small business recognize the opportunity, but often find it difficult to adapt traditional underwriting approaches to a volume-based business (with lower premiums).
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On-Demand Insurance Webinar Highlights Benefits of Digital

docusign

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
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Novarica Insurance Technology Webinar: Data and Analytics

novarica

The insurance industry has embraced data analytics to drive business results. Using large warehouses of internal data, augmentation from third-party providers, and big data sources, data analysts are driving product R and D, predictive modeling, and influencing strategy at all levels of the organization. However, many insurers are still dealing with the challenges of diverse core systems with little data integration and limited agreement on what data assets mean. This webinar covers current insurer experience, case studies of successful initiatives, and best practices in developing a data and analytics strategy.
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Legal Best Practices for E-Signatures in Insurance

INSURANCE-CANADA.CA

Electronic signature adoption is growing among Canadian insurance companies, driven in large part by consumer's expectations for convenient, personalized and efficient service. While the benefits of straight through processing are obvious, questions often still arise regarding the legal requirements and implications of bringing processes online.
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Spotlight

The insurance sector is currently facing pressures from several sides. Among the latest challenges are new regulatory frameworks, the inflow of alternative capital, and the ongoing low-interest-rate environment. An even more groundbreaking transformation, however, will be brought about by the successively advancing digitization of the industry. In combination with substantial changes in customer needs and demands, new technologies are beginning to intensify competition to erode margins. Faster offers, a higher transparency and comparability, more personalized services, and a simplified claims process are swiftly becoming essential success factors.

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