Live Insurance News

6 Technology Trends That are Helping Insurance Companies Ensure Better Customer Service

June 26, 2023 Marc

customer data insurance technology trends 1

Did you know that the United States is the largest insurance market in the world? With total premiums worth $2.8 trillion in 2021, the US dominates the global insurance market as per a report published by Statista. Trailing the US in this ranking are the United Kingdom, Germany, Japan, France, South Korea, and so on. However, the gap between the US and the others on this list is mammoth, where America dominates over 50 percent of the global insurance market share. Despite its dominance in the global market, US insurance…

4 Trends Shaping the Commercial Property and Casualty Insurance Industry

June 26, 2023 Tate Ellison

insurance trends in commercial property sector

The year 2022 was the worst one for the property insurance and casualty insurance industry (P&C) since 2011. Insurers are likely to pay out billions of dollars due to severe weather conditions in the United States. Hurricane Ian, which struck Florida in late 2022, caused the second largest insured losses after Hurricane Katrina, resulting in $65 billion alone. Swiss Re has revealed that the natural catastrophe losses of more than $100 billion surpassed the ten-year average by 40% last year. Even AM Best’s new special report has made shocking revelations.…

Why SMEs Should Not Skimp on Cyber Liability Insurance Investment

June 23, 2023 Guest Author

cyber liaiblity insurance for small business owners

Running a small or midsize enterprise (SME) is not a mean feat despite the relatively smaller scale of operations. As a business owner, you may struggle with money and resource constraints more often than you imagine. Embracing a savvy mindset can keep your enterprise afloat, but cutting corners in some areas may cause more harm than good. Business insurance is an element most entrepreneurs consider an unnecessary burden, but it can be a lifesaver. While you may realize the significance of commercial liability coverage, cyber liability insurance might not be…

Florida insurance agents know they offer more than AI

June 22, 2023June 21, 2023 Nordstrom

Many of these professionals aren’t feeling threatened by artificial intelligence technology. In California, insurance agents have been voicing their concerns over the potential threat artificial intelligence (AI) could have to their jobs. However, in Florida, these professionals seem to feel far more confident that they can offer a great deal that AI cannot. Florida’s property insurance industry has been struggling for several years due to rising risks and costs. “Things are getting better. They are,” said Great Florida Insurance owner Gordon Gillespie, who was among the hundreds of agents at…

What is your dashcam doing to your auto insurance?

June 8, 2023July 5, 2023 Nordstrom

Dashboard-mounted cameras are becoming increasingly popular, but will they impact your rates? Have you ever wondered about what impact your dashcam could have on your auto insurance premiums, particularly in the event of a collision? This technology is no longer exclusive to law enforcement and commercial transportation. Dashcams were once a technology used nearly exclusively by law enforcement, and then later in some commercial vehicles such as transport trucks, in order to help provide evidence in the event of a collision or other issue. Now, they are commonplace in passenger…

The Main Benefits Of Sage 50 For Insurance Companies

June 7, 2023 Guest Author

The right accounting software for insurance companies should make it possible for users to focus on their core business, without being held back by any sort of accounting issues. Looking for a solution that caters to the unique needs of insurance companies is much better than going with general accounting software. With that in mind, Sage 50 is a great accounting solution for insurance companies due to a number of important reasons. Continue reading below to find out more about the main advantages of this accounting solution for insurance companies. …

Dental insurance ransomware hack exposes 9 million patient accounts

June 2, 2023June 1, 2023 Logan B.

Managed Care of North America Dental provides government-sponsored plans for children and seniors. One of the largest dental insurance providers in the United States has suffered an apparent ransomware attack, compromising the personal information of nearly nine million people in the country. The insurer posted a notice saying that it had become aware of unauthorized activity on its computer system. Managed Care of North America (MCNA) Dental calls itself the largest dental insurer in the US for government-sponsored plans providing coverage for seniors and children. It recently posted a notice…