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Connections’ portals help deliver value to MACo‘s individual members, drive efficiencies throughout organization. Risk-sharing pools have surpassed commercial insurance for public entities- cities, counties, schools, and others, notes the Association of Governmental Risk Pools, because they demonstrate effective government collaboration, and the collaborative work undertaken by pool members reduces all members' risks and associated costs. Read the full case study here: case-study-maco(1) ...

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Play by the digital rules, or you die. Not just one time, but again and again.” Against this digital and cultural call to action, the insurance industry faces a couple of huge hurdles: risk aversion and a culture that is also very averse to change. Read more about managing your digital transformation here. https://www.dig-in.com/opinion/managing-the-cultural-challenges-of-digital-transformation...

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Generating-Value-Customer-Portals-CHSI

Insurance-specific software packages that include portals improve agent and broker productivity, ease data collection and analysis, and sustain data security. All of this occurs behind the scenes. In a best case scenario, brokers or policyholders can experience swift responses to their quote applications, concerns, and/or claims. Ultimately, the value of a software package depends on the quality of information supplied by its users. This is why...

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InsurTech-Benefits-CHSI

InsurTech might not receive the same level of publicity as biotech or fintech, but that doesn't mean the insurance industry isn't adapting to technological change or embracing younger employees. As Baby Boomers retire, their positions need to be filled with talented young people who are committed to the insurance industry. This is especially true for small to mid-size insurance firms seeking to remain competitive by...

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Millenials-CHSI

A crisis is brewing in the nation's insurance sector, and it is one that could have disastrous effects if left unaddressed.   The crisis is an approaching workforce shortfall within the insurance industry. As Baby Boomers continue to retire, a gap is beginning to appear in the number of millennials entering the insurance workforce to replace them.   A number of factors may contribute to the problem, and the...

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Cloud-Accounting-CHSI

All businesses, regardless of their niche, require some sort of accounting system in order to determine if their endeavors are profitable, identify where their money is going and complete required reporting to government agencies.   Small to medium-sized insurance companies have encountered unique challenges in developing accounting systems due to budget and technological constraints. Thankfully, the advent of cloud accounting systems has helped to ease these constraints...

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Cyber-Security-CHSI

As an owner or employee of a small to mid-size insurance organization, you understand risk. But have you considered covering cyber risks for small businesses? The data small businesses collect and the online footprint they leave behind, no matter how small, can make them vulnerable targets. Here are some concrete steps you can take to assess your clients' cyber risk and offer them protection in...

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Saas-Checklist-CHSI

The technology question that most small to mid-size insurance firms face has changed from whether to undergo a digital transformation to how to undergo a digital transformation. How can your firm move to digital without compromising sensitive data, up-ending established workflows or investing in expensive hardware? As with most things digital, the answer is the cloud. Here are some key factors to consider when integrating...

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Switch-To-Automated-Software-CHSI

Small to medium-sized insurers are increasingly coming to grips with the fact that, to keep pace with their larger competitors, they must embrace technology to the greatest extent possible.   Making a switch to automated insurance software is one way to keep pace with the competition while improving company performance and streamlining information technology operations.   New automation platforms are capable of more than just processing data input for...

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Underwriters-Stay-Organized-CHSI

Underwriting can simultaneously be the best and worst part of a small to mid-size insurance company. It can save the company thousands of dollars by helping to eliminate risks to the company's capital base, yet if not managed correctly it can cause the loss of potentially good clients.   An insurance management software package that includes an underwriting module can be the key to the efficient conversion...

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