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insurance-industry

What 2018 Has in Store for the Insurance Industry

New markets and products, shifting regulations, areas of increased risk and the rise of fintech are influencing the insurance industry in 2018. With so many different pieces in motion, it might be difficult to find a common element that’s driving the industry. A close look reveals that the biggest change is speed. Customers expect fast…

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insurance-fraud

The need for data collection with Insurance Fraud Detection

While insurance companies are primarily tasked with risk management in order to grow their businesses and succeed, a focal area of concentration is increasingly that of the risk of fraud. The rise of technology has, unfortunately, provided enhanced opportunities for fraudulent practices both by company staff members as well as those who are insured.  …

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insurance-CRM-software

Why do we need an insurance CRM software?

The business environment for insurance companies is changing, and smaller insurance companies are gaining ground in their efforts to compete with their larger counterparts. There is no question that technological advances in areas such as insurance management software have helped tremendously in this endeavor, but as these companies grow they must have a strategic plan…

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predictive-analytics

Predictive Analytics are bridging the gap between Claim Management demands

Just as underwriting is crucial in acquiring and growing an insurance company’s customer base, claims management is paramount to protecting company assets and smaller insurance companies are leaning on predictive analytics in greater numbers than ever before. Many are utilizing specialized software for insurance companies designed to deliver this type of analytical data faster and…

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saas-software

How SaaS is securing insurance software and your company

As the business environment continues to change for small and medium-sized insurers, the need to migrate towards better implementation of products and services is ever increasing. One platform that is gaining in use among these types of insurers is Software as a Service or SaaS.   At first glance, it is easy to assume that…

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10-reasons-SaaS

10 Facts why technology is Buzzing about 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…

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cloud-insurance-software

Why a cloud-based insurance software is your future

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…

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risk-retention

The What’s and Why’s of Risk Retention Groups

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…

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digital-transformation

How Your Insurance Company Can Achieve Digital Transformation Success

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…

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insurance-change

The Future of Insurance: Turning Change into Profit

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…

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