The Connections Blog

Your Dose of Insurtech Insights & News

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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 Property and Casualty 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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AI: For Workers’ Comp, a Promise to Be Fulfilled

The term “artificial intelligence” (AI) is weaving its way into the mainstream of insurance companies of all sizes.  It’s a hot topic:  Consider that at the recent Dig|In event in Austin, Texas, at least half a dozen exhibitors classified themselves as “AI” or “AI/Fraud” companies. For many smaller carriers, however, especially those in workers compensation,…

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small and medium sized business insurance

SMB Insurers: Wake-Up To What’s Possible

In these disruptive times, small- to medium-sized insurers that want to remain relevant must — and can — heed the call of innovation.

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Workers’ Comp Professionals Share Challenges

At the mid-year point between the 2018 and 2019 National Workers’ Compensation and Disability Conferences, the predictions made by several workers’ comp professionals are still relevant.  Risk & Insurance Magazine queried 512 of these professionals to discover the trends that are important to them, as well as the challenges they believe lie ahead. The respondents,…

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Senior Leaders Offer 5 Lessons on AI Adoption

Many small- to medium-sized insurers are still grappling with the concepts of artificial intelligence (AI) and its power to transform the business.  Some are beginning to incorporate big data into workflows, and others are using AI to increases outreach, customize customer service efforts, improve processes and boost productivity. It’s clear that some are farther along…

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Risk Retention Groups Attract Young Talent

Risk Retention Groups, like other smaller insurance companies, face an uphill battle when it comes to finding great talent.  In an article published on the National Risk Retention Association (NRRA) site, Joe Deems, the group’s executive director, laments the fact that young people have little or no interest in starting and building a career in…

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