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Author: CHSI Technologies

10-reasons-SaaS

A new term is generating a stir in the realm of insurance technology and that is SaaS, also known as Software as a Service. To illustrate, below are 10 facts as to why SaaS is buzzworthy for insurance companies and their risk management systems.   SaaS is web-based Companies who choose SaaS can run their systems without purchasing expensive hardware and software. The only equipment needed is an...

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cloud-insurance-software

While managing risk is a key component of the insurance business, unfortunately, many smaller insurance companies may not be giving sufficient weight to the risks of obsolete or inefficient technology. Using outdated legacy software can not only be burdensome to the company's bottom line, it can allow competitors to gain a significant advantage in application processing, underwriting, and many other business functions. It is for...

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risk-retention

Since the adoption of the federal Liability Risk Retention Act in 1981, small businesses, municipalities and individuals are able to pool their resources to form collectively owned risk retention groups, or RRGs. Because RRGs exist under federal guidelines, these insurance groups are able to attract members from all states even when they are based in a single location. By joining an RRG, members can avoid otherwise...

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digital-transformation

A proliferation of digital tools and customized software is spurring digital transformation across sectors, including within the insurance industry. While many enterprise-level insurance firms were among the first to launch cloud-based services and mobile options, smaller organizations are catching up as greater numbers of cost-effective insurance software providers emerge. Here are a few simple ways for your organization to take advantage of the many available...

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insurance-change

Today's insureds are happy to click on a button, interact with an automated system and independently purchase insurance and file a claim. These changes in consumer behavior are upending how traditional insurers attract new policyholders and how they can retain the ones they already have. Large insurance companies are leveraging their ability to attract customers via sophisticated digital platforms, real-time quotes and speedy claim resolution....

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innovation

Insurance technology is within the reach of small to mid-size insurance organizations and carriers, but do brokers and agents feel confident using innovative technology?   The short answer is yes. Innovative technologies are designed with the user in mind. Adopting new digital platforms no longer requires extensive training or new devices. Most technologies are cloud-based and capable of being accessed through familiar smartphones, tablets and desktops. Since...

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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 can discover new areas of value using insurance management software. User...

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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 not be quite as clear. In today's competitive insurance market, the solution...

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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 have a smaller capital base than their larger counterparts. Therefore, it is...

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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 importance. Fortunately, the same software solutions that handle day-to-day operations...

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