Category: Technology

Agents and professionals are advised to keep up with technology – this will be sure to help with running an agency or brokerage. Learn what company is coming out with the latest claims program or risk mitigation software.

Are Automated Driving Features in Your Car Really Safeguarding You?

G. Turner
who's behind the wheel

The rise of automated driving features has promised a future of hands-free convenience and enhanced safety. But are these advanced systems living up to their assurances, keeping drivers out of harm’s way? A recent study conducted by the Insurance Institute for Highway Safety (IIHS) forces us to confront the efficacy and safety of these technologies head-on. Partial Automation, Full Concerns Study Highlights Only one of 14 partially automated systems tested earned an “acceptable” rating. The majority of systems received a “poor” rating; none received a “good.” Marketing by some automakers…

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Insurance companies receive driver data from automakers

Marc
Insurance Companies collect driver data

Vehicle software can collect motorist driving behavior data and share it with insurers Insurance companies have been offering usage-based coverage plans to customers for several years, tracking driving behaviors in order to offer lower risk motorists the opportunity to save on their premiums. These plans use apps, dongles, or other forms of telematic tracking and transmitting methods The tracking can include recording how many times a motorist drives, how often they brake hard, if they speed, and how quickly they take corners. Many drivers have been hesitant to enroll in…

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Custom Front End Development

Guest Author
Front End Development helps with refresh sparkle factor

Currently, 59% of internet users possess and actively use three digital devices. To ensure you maintain engagement with your audience, it’s crucial that your web application performs flawlessly across a variety of devices, browsers, and operating systems. Your application needs to be quick to load, user-friendly, and dependable. This level of quality and accessibility is achieved through client-side development, an area where our expert team can offer substantial assistance. Access the Expertise You Require Our team of software engineers boasts more than six years of experience in crafting intricate web…

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Health insurance companies can’t use AI for Medicare

Logan B.
Health insurance - Medicare and AI

Newly released federal guidelines say that artificial intelligence can’t make all the choices. The Centers for Medicare and Medicaid Services (CMS) have released new guidance for health insurance companies to protect Medicare Advantage (MA) against bias from artificial intelligence (AI). The CMS is the federal agency overseeing Medicaid, Medicare and other programs CMS oversees the Children’s Health Insurance Program (CHIP), the Health Insurance Marketplace, Medicare and Medicaid. It recently issued a policy memo to insurers in which it banned them from using algorithmic systems or AI exclusively to decide on…

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How EV Insurance is Transforming the Insurance Market Landscape

Loreen
evs high tech vehicles insurance costs

The automotive landscape is embarking on a transformative journey with electric vehicles (EVs) and high-tech cars steering the course. This electrifying shift is not only redefining transportation but also reshaping the dynamics of auto insurance. As EVs and vehicles laden with cutting-edge technologies become more prevalent, their impact on insurance costs has emerged as a critical issue for drivers and insurers alike. The fusion of sophisticated electrical systems, driver-assist technology, and complex vehicle software has ushered in a new era of challenges in risk assessment and repair costs. Understanding these…

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Insurance and Technology: The Rise of Insurtech

Guest Author
insurtech insurance technology

The insurance industry, traditionally viewed as conservative and slow to adapt to change, is undergoing a dramatic transformation thanks to technology. This fusion of insurance with technology, known as ‘Insurtech’, is reshaping the landscape of insurance offerings, customer service, and business models. The Evolution of Insurtech Insurtech began as a response to the digital revolution that has swept across other sectors. Today, it represents a broad range of applications: from artificial intelligence and machine learning for underwriting and fraud detection, to blockchain for secure and transparent transactions, and the Internet…

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Digital Era: Are Exclusive Insurance Agents Facing Extinction?

Loreen
exclusive insurance agents battle in the digital world

In the vast and complex world of insurance, exclusive agents play a critical role. They are professionals who have signed agreements with a single insurance company to sell only that company’s policies. This exclusivity allows them to deeply understand the products they sell, providing clients with an unmatched level of expertise in those specific offerings. However, the insurance industry is currently in a state of flux. Rapid technological advances, evolving consumer expectations, and the rise of digital platforms are reshaping the landscape. These changes are not only altering how insurance…

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