Claims, Insurance Technology

Can Insurers Learn How to Develop Strong Digital Customer Relationships?

January 12, 2022

Can Insurers Learn How to Develop Strong Digital Customer
Insurers need to tackle the rapid changes to their ecosystem.

They instinctively react in the same way they have always reacted in previous crises — by making marginal adaptations to the traditional way of doing things and further optimizing and streamlining the existing business model.

Spotlight

Falls Lake Insurance Companies

We underwrite specialty lines insurance on an admitted basis through Falls Lake National Insurance Company, Stonewood Insurance Company, and Falls Lake General Insurance Company. As the admitted insurance platform of James River Group and as subsidiaries of James River Group Holdings, Ltd., we operate against a capital base of almost $500 million. As with our affiliates, James River Insurance Company (excess and surplus lines) and JRG Re (Bermuda based reinsurer), we focus on undewriting specialty insurance products through limited distribution partners focused in our desired industry segments. We prefer to write specialty insurance policies on a primary basis, and combine an experienced, common sense approach to the business with rigorous underwriting and claims management and an entrepreneurial culture. We believe that this combination results in success for both you and Falls Lake.

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Today’s insurance industry operates in a world that’s increasingly complex and unpredictable. As insurers navigate economic, environmental, and social challenges, access to quality, trusted data has the potential to create new opportunities. Connected technologies – sensors and other devices that capture and share data in real time – can provide insurers with fresh insights into risk. For the insurer, this data can mitigate exposure, increase pricing accuracy, and foster revenue growth. It can even transform the insurer from a company that collects premiums and pays claims into a trusted partner that helps clients prevent accidents, damage, and losses before they occur.

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Spotlight

Falls Lake Insurance Companies

We underwrite specialty lines insurance on an admitted basis through Falls Lake National Insurance Company, Stonewood Insurance Company, and Falls Lake General Insurance Company. As the admitted insurance platform of James River Group and as subsidiaries of James River Group Holdings, Ltd., we operate against a capital base of almost $500 million. As with our affiliates, James River Insurance Company (excess and surplus lines) and JRG Re (Bermuda based reinsurer), we focus on undewriting specialty insurance products through limited distribution partners focused in our desired industry segments. We prefer to write specialty insurance policies on a primary basis, and combine an experienced, common sense approach to the business with rigorous underwriting and claims management and an entrepreneurial culture. We believe that this combination results in success for both you and Falls Lake.

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