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Month: July 2019

4 Tips to Improve Your Insurance Rules Engine

  There is a quiet revolution sweeping through the insurance industry. New data storage options and artificial intelligence solutions are allowing smaller insurance companies to use the same technology as their larger counterparts, giving them access to previously unattainable levels of data security and operations efficiency. This innovation represents a real game-changer for small insurance…

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4 Ways a BI Solution Can Help Your Insurance Company

Although it might seem like old-fashioned customer service and advanced technology are incompatible concepts, that’s far from the truth. Cutting-edge insurance business intelligence (BI) software is helping companies streamline and improve their customer service across the board. From renewals and cancellations to customer outreach, BI software is making customer interactions easier at every step for…

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Captive Owners Sue Legal Advisors After IRS Levies Penalties

The owners of an 831(b) captive that the Internal Revenue Service ruled did not qualify for various tax benefits is now suing the lawyer who allegedly advised them to establish the microcaptive, Business Insurance reports. Last month, Benyamin and Orna Avrahami, the owner of a jewelry firm and various other businesses in Phoenix, last month…

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California Legislative Panel Approves PTSD Coverage for Firefighters, Police

Certain first responders with post-traumatic stress disorder will be able to obtain workers’ compensation benefits, according to a recent report. Current law provides benefits for workers with psychiatric injuries only if the condition causes disability or requires medical treatment, and they must prove work is a substantial cause of the injury. The new legislation, largely…

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Fewer P&C Agents on the Horizon?

The property and casualty industry will see a change in the distribution channel, namely fewer agents, says an insurance advisor for EY.  During a recent Insurance Journal “On Point” podcast with Peter van Aartriik, an insurance industry marketing and communications specialty company, EY’s Ed Makowski noted that those agents that remain will be larger and…

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Automated Underwriting Software

What to Look for in Automated Underwriting Software

Sometimes an underwriting task is unusually complex, requiring special attention to its unique circumstances. Every experienced underwriter has seen a few cases like this.   While unique cases require critical thinking and a hands-on approach, many underwriting tasks are not unique. Some do not require much in the way of creative thinking or adaptability. From…

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How to Manage an Insurance Company

4 Tips On How to Manage an Insurance Company

  Business owners of small insurance companies know how challenging it can be to run and grow a company. It can seem like there are endless mistakes to make when you’re learning how to manage an insurance company, but there are also plenty of best practices and proven solutions, too. Many decision makers have discovered…

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