Posted on March 26, 2015 by Michael Costonis
Unresolved issues related to insurance have been sticking points in the growth of the sharing economy. Insurance Journal reported this week on an important development related to ride-sharing: Support for a joint legislative framework for insurance requirements, from a leading industry player (which sent out its own announcement on the subject) along with State Farm, Farmers, USAA and the America . . .
Posted on March 26, 2015 by Michelle Krause
Independent agents (IAs) are the dominant property & casualty distribution channel in the United States, representing 58 percent of all P&C sales. Their ability to provide personalized service, combined with local market knowledge and access to a mix of carriers, products and price points, forms the IA value proposition.
But the competitive environment is heating up. IAs identify carriers’ . . .
Posted on March 26, 2015 by Kevin Meadows
Stereotypes about the people who live in different countries are often just that – stereotypes. As someone focused on the Canadian market, however, I found the responses from individuals participating in Accenture’s Insurance Claims Customer Satisfaction Survey to be interesting, if only because they confirmed my experience about doing business with Canadians.
Canadians have a reputation for bein . . .
Posted on March 25, 2015 by Thomas Meyer
Last week we looked at a recent Accenture study on how the most successful German companies are incorporating digitization into their business strategies (“Courage to think differently: Digitization strategies of Germany’s Top 500”). Although the study excludes insurance, it conveys valuable lessons on how businesses are adapting—or not adapting—to the digital revolution.
The study finds a major d . . .
Posted on March 25, 2015 by Erik J. Sandquist
Drones for insurance? It’s not so far-fetched. Consider that these small, lightweight devices can be outfitted with cameras, GPS units and specialized equipment to enable insurers to better manage claims and risk.
Here are some potential use cases:
Improved risk assessment. Drones offer a cost-effective way to assess risks—particularly for large sites and multi-story buildings—to facilitate more . . .