Technologies driving Insurance into the Digital Age Technology has the potential to transform the insurance industry as we know it. Digital technology can drive significant changes in the modern insurance domain. For modern insurers, the ever-changing landscape of the insurance industry has led to the advancement of technological acceleration in the entire sector. New digital […]
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Common Errors and Omissions Claims Against Insurance Agents Costly errors and omissions claims in insurance have increased substantially over the past few years. This is why insurance agents need to take concrete steps to protect themselves. The biggest risk of being an insurance agent is the inaccuracy of errors and omissions claims. These claims can often accrue
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6 Major Use Cases for Advanced Data Analytics in Insurance Industry The insurance industry is known to be a high-risk industry. Having to constantly navigate through claims procedures, pricing and promotion while minimizing compliance risks at all times can be quite a challenge. Insurance companies rely heavily on data and statistics for quicker decision-making. This
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How Automation Helps Manage Insurance Applications and Renewals Efficiently The insurance industry is undergoing a digital revolution. In the past, in-house teams had to spend a huge chunk of time manually combing through applications to spot errors and omissions. Missing information, incorrect data, policy mismatch and improper renewal have all required a human eye to
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Insurance Quote Comparison tools and their benefits Quote management is a very critical, yet mundane activity that happens in Insurance industry. The usual workflow starts when a customer requests an insurance agency to provide quote. It needs to have the best possible coverage and low premium that would meet their requirements. In most agencies, the
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Is it illegal for insurance brokers to pay ransom? What cyber insurance clients need to know According to reports by Threatpost, there was a 151% increase in ransom demands last year. The complexity and frequency of such attacks are increasing year on year. Ransomware has started using variated and escalating extortion techniques. The average payment
