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Author: Jim Leftwich

Insurers come in all shapes and sizes, from Tier 1 monolithic operations to the smallest captives and self-insured groups.  One thing has been made clear to me in the 30-plus years I’ve served this industry: Regardless of size, many insurers do not fully understand their technology requirements. I’m not saying this because I want to sell them something they don’t need; I’m saying it because...

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Are Small Insurers at Risk of Becoming “Blockbuster Videos” in a Netflix World?   Having just attended the Digital Insurance Dig-In 2018 annual conference, I felt like I drank innovation from a firehose.  The conference showcased real use-case technology innovations from insurers large and small as well as the latest technologies from upstart and incumbent technology solution providers.   From what I saw at this conference, it appears that...

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Transformation-of-Small-Insurers-CHSI

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 re-thinking their IT infrastructures, distribution networks and communication strategies. The...

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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 old, tired (but alas, nicely profitable) business model. Then it...

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customer relationship management system

For many small to medium sized insurance carriers, government risk pools and captives, providing personalized customer service continues to be a priority. If your organization or your partners leverage digital technologies, you may have customers who expect that personal touch across channels.   For these carriers, having a solid Client Relationship Management (CRM) strategy is a priority.  And while in theory a strategy is a great start,...

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insurance crm software happy clients

Reports indicate that policy holders are rejoicing over insurance tech. They anticipate greater efficiency, better communication, quicker claim response and increased self-service options.  And technology-driven insurance providers should rejoice, too. Increased efficiency and customer satisfaction improves retention within the highly-saturated insurance industry.   Here are some tips for making clients happier and increasing client retention:   Adopt Efficient Technologies & Process Small to mid-size insurers continue to develop customer engagement models that...

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insurance management software audit

Unlike the “one-size-fits-all” enterprise-level software giants, there’s new breed of insurance management software providers that offers industry-specific software packages. These multi-line packages are customized for small- to mid-size insurance organizations so that these organizations are able to purchase only the software systems and services they need. However, when it comes to insurance management software, not all insurance operations know what they need. To find that...

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insurance management software cloudbased

Small- to medium-sized insurance companies have several advantages over their larger counterparts. Their small size allows them greater flexibility in serving their clients and they can exercise more creativity when it comes to growing their business.   However, in years past, smaller insurers had a technological disadvantage as compared to larger insurance firms. The bigger fish had more capital with which to invest in cutting-edge technology. However,...

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insurance crm software importance

The insurance industry's rapid move into digital services places small-to-midsize insurers in a vulnerable position. While larger insurance organizations invest millions to keep pace with digital trends, smaller companies have greater financial restrictions. Smaller organizations might be tempted to stay competitive by offering their clients mobile apps and other quick-fixes, but insurance CRM software offers a long-term solution that is scalable, flexible, and dynamic.   Dynamic and...

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insurance-crm-software-change

Big ideas are good, but executing them is better.   Our industry has never seen so much call for change. Between the onslaught of emerging technologies, to insurtech startups weaving in and out of the insurance and vendor space, to urgent economic pressures that demand improvements on everything from customer relationships to the bottom line, the demands create constant pressure on insurers.   So, too, does the resistance to...

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