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Month: March 2018

Transformation-of-Small-Insurers-CHSI

Can Smaller Insurers Achieve Transformational Change?

I don’t think any of us would argue that the insurance industry is now facing an inflection point of forces to reckon with such as changing market conditions, emerging technologies and start-up “insurtech” companies. In an environment in which both personal and commercial lines of business are impacted by a digitally-empowered consumer, many insurers are…

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Cyber Insurance

Finding New Areas of Value Using Insurance Management Software

Insurance management software improves an organization’s bottom line through its efficiency and the insights it generates. With tailored digital options, small-to-midsize insurance companies can access the powerful insurance management tools they need to engage clients, offer top-of-the-line digital services and attract and retain new, talented agents. Here are a few of the ways your organization…

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Insurance Underwriter

Reasons to Explore Underwriting Software

The heart of a successful insurance company lies within its underwriting. Without solid underwriting procedures, standards, and protocol, along with an efficient methodology for its implementation, a small insurance company is almost certainly doomed to fall behind or fail.   While this is not news for insurers, the means to achieving excellence in underwriting may…

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Cloud Insurance

The risks of being left behind in the migration to cloud computing

As cloud computing continues to grow in the business community, small to medium-sized insurance companies that are holding on to the old systems of in-house hardware, software, and IT departments are facing a real risk of falling behind their competitors. In fact, the risks are multi-dimensional and merit a closer look.   Smaller insurance companies…

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Insurance Data

The Rise of Analytics Software in Risk and Insurance

On a day-to-day basis, insurance organizations, even small organizations, handle large amounts of operational data. This data includes policy information, personal client data and customer relationship management data. Insurance software providers support the management of this data by fostering smooth workflows that increase agent productivity. But another level of data, analytical data, is gaining greater…

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Regulatory Compliance

Ensure Regulatory Compliance by Integrating Insurance Management Software

In 2018, insurance industry leaders are advising both large and small firms to embrace complexity. It seems insurance providers have little choice but to adapt. As data volume increases and security concerns mount, regulatory inconsistencies become an even greater concern. Here are a few ways data management software can help you make sense of complexity…

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Deathstar

Death Star vs. Small Insurers

I was intrigued by a recent article written by Pat Speer and published by Digital Insurance that included a quote from Rich Karlgaard, publisher at Forbes Media, who compared the digital evolution to the Death Star from Star Wars. “First it pulls your industry, company and career into its orbit. Then it wipes out your…

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Competitive Advantage

How to gain a competitive advantage using Insurance Software and real-time analytics

In a constantly changing business environment, small to medium-sized insurance companies are finding that in order to remain competitive, real-time analytics must be employed on a greater basis than ever before.   The term “real-time analytics” refers to the practice of using data immediately upon its inception, and in order for its use to be…

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Insurance Data Analysis

The Fallibility of Insurance Spreadsheets

Once a preferred tool for managing accounts and assessing the health of a small to medium-size insurance company, spreadsheets have gone the way of the floppy disk and Walkman radio in favor of insurance management software that just does a better job.   There are several reasons why companies that may still be relying upon…

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risk-exposure

Gain Better Insights into Risk Exposure with Automated Risk Analytics

Machine learning is disrupting numerous industries and the insurance industry is no exception. The rise of automated processes that include artificial intelligence-generated risk assessment and analysis stands to change the industry for the better, for both large-scale organizations and small-to-midsize insurance firms. Here are a few ways smaller organizations can gain better insights into risk…

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