Perficient

SEPTEMBER 19, 2023

The world’s largest gathering of insurance innovation, InsureTech Connect (ITC) , is right around the corner. Following last year’s conference, Perficient Insurance Principal Brian Bell shared three key takeaways from the 2022 event: First, data and analytics investments still topped many insurers’ list of operational priorities.

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Conference Strategy Innovation Industry 221

Perficient

NOVEMBER 21, 2023

With nearly three decades of experience directing commercial lending, corporate finance, and insurance for leading brands, Perficient’s Insurance Principal, Brian Bell, stands at the forefront of our financial services practice. Brian believes insurance serves a noble purpose and is a great source of pride.

Industry 221

Industry Conference Meeting Maine 221

South State Correspondent

MAY 9, 2023

In the wake of regional bank failures, one potential answer to equity shorting and bank runs is having the FDIC increase deposit insurance. Increasing insurance coverage on bank deposits will have unintended consequences and results contrary to what those in the banking industry want and what the U.S. economy needs.

FDIC 195

FDIC Regulation Capital Management 195

Perficient

JULY 19, 2023

One such industry that will be forced to utilize AI solutions to gain a competitive advantage is the regional insurance carrier industry. By harnessing the power of AI, regional insurance carriers can streamline their operations, enhance customer experience, and make more informed decisions.

Regional 221

Regional Customer Experience Strategy Policies 221

Perficient

SEPTEMBER 8, 2021

In a commoditizing marketplace such as personal lines, a personal experience is an opportunity for carriers to differentiate themselves from one another and create value that the insured will reward with retention and share of wallet. Insurers using predictive analytics grew premiums by 53% compared to a market average of 18%.

social media 477

social media Analytics Maine Study 477

Perficient

OCTOBER 7, 2022

The Insurance Information Institute, an industry-funded research group, estimates that Ian has caused at least $30 billion in damage. Now that the storm has passed, residents are scrambling to assess damages to their homes and businesses and, if insured, begin the claims processes with their insurers. Community outreach.

Community 275

Community South Carolina America Groups 275

Perficient

MAY 23, 2022

In our final blog on insurance commerce, we build on the previous insights on strategy, customer needs, and internal readiness. We’ve always advocated a process-first mentality – and once these key inputs are ready, technology can be a great accelerator or activator of your strategy.

Strategy 294

Strategy Technology Customer Experience Innovation 294

Perficient

SEPTEMBER 26, 2022

Our insurance team is just returning from InsureTech Connect (ITC). ITC is one of the, if not largest, industry gatherings of insurance carriers, solution provers, implementation partners, and startups. Data and analytics remain key investment areas for insurance operations. What a great week in the desert!

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Data Conference Analytics Industry 275

Perficient

APRIL 14, 2022

The connection between technology and consumers in the insurance industry has never been more relevant. Although the insurance industry was already facing rising competition and customer expectations, the global pandemic forced our industry to take legacy processes and technologies, and transition to “digital” seemingly overnight. .

Strategy 332

Strategy Tools Industry Customer Experience 332

Perficient

APRIL 4, 2022

Recently, Digital Insurance issued the findings from Keynova Group on the 2022 Mobile Insurance Scorecard. While mobile has long been a part of the carrier offering – pay a bill, get an ID card, file a claim – this survey reflects the evolution of insurers from transactional into personalized servicing.

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Mobile Survey User Experience Analytics 294

Payments Dive

MAY 2, 2023

Under the agency’s targeted coverage scenario, accounts used for payment purposes — specifically, business payment accounts— would merit higher deposit insurance coverage.

FDIC 221

FDIC Payments 221

PYMNTS

JUNE 25, 2020

While they are among some of the world’s wealthiest corporations, insurance companies have nevertheless been clobbered by COVID-19, from travel cancellations to business disruption policies to a rising tide of property and casualty (P&C) claims. Now, take a wild guess as to a chief culprit behind pandemic-era insurance payment delays.

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Innovation Industry Payments System 250

PYMNTS

JANUARY 27, 2021

But that is exactly the type of person that Richmond-based on-demand accident insurer Buddy is looking to serve, by offering up supplemental insurance plans that are super easy to fill out and can take the burn out of crash and burn for as little as $9 per day. “We Flat Rates, Stackable Benefits. Nuts And Bolts.

Las Vegas 287

Las Vegas Conference Examples Marketing 287

PYMNTS

JUNE 18, 2020

The Transfer Protect service offered by Western Union and French insurer AXA includes numerous features aimed at benefitting immigrant workers who send remittances to family members and friends in their origin countries. Life insurance and disability policies would provide funds should the expatriate workers die or lose the ability to work.

Policies 211

Policies Branding Online Company 211

Cisco

MARCH 12, 2024

Those who experienced “then” and “now” first-hand in the Insurance Claim business might be even more amazed at the profoundly po… Read more on Cisco Blogs Think of how much digital channels and the contact center have evolved.

Customer Experience 118

Customer Experience 118

BankBazaar

JANUARY 16, 2024

In this Bollywood-inspired script, we’ll weave together a tale of money, dreams and the importance of insuring your future. She lays out the first step – insurance. Picture this: Life insurance, our hero’s first line of defence. Insurance sways to the rhythm of risk assessment.

Policies 78

Policies Security Meeting Management 78

PYMNTS

JULY 27, 2020

The insurance industry has been bogged down by sluggish service and even slower payouts for decades, and while policyholders have certainly weathered their fair share of friction from the sector’s legacy incumbents, those insurance companies themselves have also suffered from a lack of digitization and automation.

Innovation 247

Innovation User Experience Industry Fraud 247

Independent Banker

OCTOBER 1, 2022

As digital crime evolves, cyber insurance could be part of the solution. The cybercrime world is evolving rapidly, and what the bad actors are looking for in a target is not necessarily size or a big name,” says Jared Gentile, assistant vice president, bond and specialty insurance at Travelers. Insuring against cyber risks.

Montana 152

Montana Policies Resources FDIC 152

PYMNTS

DECEMBER 18, 2020

Intuit’s financial services platform Credit Karma has introduced a tool called Karma Drive to help people save money on car insurance with a usage-based product. . Karma Drive, which is being launched in collaboration with Zendrive and Progressive, bases the price of insurance on how much a person drives. Intuit closed its $8.1

Tools 242

Tools Taxes Regulation Innovation 242

PYMNTS

JUNE 24, 2020

The insurance industry is all about risk mitigation, and not only when it comes to underwriting policies. Averse to the risk of change, the property and casualty (P&C) insurance arena has been resistant to embrace electronic payments when disbursing funds to claimants. Insurance carriers as a whole are averse to risk,” he said. “I

Strategy 285

Strategy Industry Payments Policies 285

PYMNTS

NOVEMBER 3, 2020

One of Sweden’s largest private insurers, Folksam Group , says a data breach affected one million of its clients. Among other things, Folksam provides personal loans and homeowners insurance along with commercial insurance for cars, boats, trade unions and other organizations.

Groups 255

Groups Data Report America 255

PYMNTS

APRIL 10, 2020

There are several complexities associated with reviewing and settling claims, given the nature of the insurance industry, which requires stringent customer authentication and documentation. All that is starting to change, especially as more consumers turn to social media to seek support from their insurers, or even air their grievances. “So,

Mobile 198

Mobile Technology social media Customer Experience 198

PYMNTS

AUGUST 11, 2020

Idaho-based Kount has released a new product aimed at preventing insurance fraud as the industry increasingly turns to digital, and even mobile, setups. Kount’s products help “insurance companies identify visitors, manage leads, and determine who is shopping for a quote.”. In a Tuesday (Aug.

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Fraud Industry Idaho Customer Experience 234

PYMNTS

APRIL 23, 2020

To that end, the stage may be set for a data-driven model for vehicle insurance, where premiums are tied to usage, which reflects actual real-time and real-world risk. In an interview with PYMNTS, Metromile CEO Dan Preston noted that any number of industries, including insurance, are moving toward a digital-first mindset.

Data 205

Data Customer Experience Policies Innovation 205

PYMNTS

APRIL 28, 2020

Two of the largest providers of retail credit insurance, Coface SA and Euler Hermes Group SAS, have stopped writing policies covering Macy’s and other big stores, the news service reported. Bloomberg found that credit insurers have been reluctant to offer new policies for stores as they monitor the markets.

Policies 225

Policies Capital Retail Report 225

PYMNTS

JULY 16, 2020

Admittedly, it might seem like a strange time to be launching an innovative travel insurance product given how much the tourism industry has contracted in the wake of the global pandemic. Weyl said Koala aims to make travel insurance a new journey toward reliability as tourism attempts to get on the road to recovery.

Policies 254

Policies Examples Innovation Customer Experience 254

CFPB Monitor

APRIL 11, 2023

Director Chopra, who is also a board member of the Federal Deposit Insurance Corporation, focused his messaging on the need to better educate consumers regarding when their deposits are and are not insured by the FDIC. Continue Reading

FDIC 146

FDIC Industry Washington 146

PYMNTS

OCTOBER 14, 2020

Six-year-old insurance technology firm Cover Genius has reportedly raised A$15 million ($10.7 Sydney, Australia-based Cover Genius focuses on providing insurance products to digital-age corporate customers. million USD) in capital, including funds from King River Capital and Leap Capital, according to published reports.

Capital 186

Capital United States Survey Branding 186

PYMNTS

NOVEMBER 24, 2020

Digital auto insurer Metromile plans to go public by merging with publicly traded INSU II (Nasdaq: INAQ), a special purpose acquisition entity sponsored by Cohen & Company (NYSE: COHN). The company says its model allows customers, on average, to save about 47 percent over what they would pay with a traditional insurer.

Arizona 264

Arizona Pennsylvania Capital Washington 264

PYMNTS

DECEMBER 16, 2020

WhatsApp will debut options for health insurance and micro-pension products in India by utilizing new partnerships, according to a report from The Economic Times. We hope these projects will make it much easier for micro-pensions and health insurance to be scaled to every Indian, regardless of location and income.".

National 200

National Report Payments System 200

PYMNTS

JULY 6, 2020

Paytm, the eCommerce payment system and financial technology company based in India, has announced plans to purchase Raheja QBE General Insurance Co. Today, the Mumbai-based insurer is owned by the building materials company Prism Johnson at 51 percent and 49 percent by QBE Australia, one of the country’s largest global insurers.

Financial Technology 181

Financial Technology Strategy Groups Innovation 181

PYMNTS

AUGUST 12, 2020

For decades, the insurance industry is quite literally a lifeline for those affected by unfortunate events. As service providers in the business of disasters and disruptions, insurance companies have had a front-row seat to the ways the pandemic has affected their small business policyholders.

Policies 229

Policies Marketing Strategies Industry Payments 229

PYMNTS

DECEMBER 14, 2020

Home insurance is a product that no one wants to buy — but must. And the insurance companies? At a high level, said Wand, insurance means “you are buying the right to file a claim that is supposed to make you whole, if God forbid something happens…it’s a safety net, but over time the safety net becomes smaller and smaller.”.

Policies 290

Policies Big Data Texas Marketing 290

CFPB Monitor

OCTOBER 27, 2022

The new laws limit the price of GAP waivers, add new disclosure requirements, ban GAP waiver sales in certain instances, and prohibit financing of GAP insurance in auto loans to servicemembers. 10 USC § 987(i)(6). f)(2)(ii) or (iii).” See December 2017 Interpretive Rule Q&A #2.

California 148

California Security Regulation United States 148

CFPB Monitor

FEBRUARY 22, 2023

HUD recently announced a reduction to the annual mortgage insurance premium charged to borrowers with FHA-insured loans. HUD estimates that the reduction will save FHA borrowers on average $800 annually.

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American Banker

DECEMBER 21, 2023

The Federal Deposit Insurance Corp. finalized rules governing display of the FDIC logo Wednesday, requiring a new digital FDIC sign on online banking platforms beginning in 2025, conspicuous physical signs in nontraditional bank facilities and explicit labeling of insured and non-deposit products.

FDIC 85

FDIC Online Compliance Regulation 85