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risk-exposure

Gain Better Insights into Risk Exposure with Automated Risk Analytics

Machine learning is disrupting numerous industries and the insurance industry is no exception. The rise of automated processes that include artificial intelligence-generated risk assessment and analysis stands to change the industry for the better, for both large-scale organizations and small-to-midsize insurance firms. Here are a few ways smaller organizations can gain better insights into risk…

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InsurTech Matters When Scouting Talent

The cycle of doing more with less is starting to catch up with the insurance industry. This year, 25 percent of insurance professionals are expected to retire, notes David Coons, SVP of the Jacobson Group. Further, by 2020 the industry will need to fill approximately 400,000 positions to remain fully staffed. Meanwhile 40 percent of…

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Case Study: Portals Help Position MACo for Growth

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.…

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Insights from Digital Insurance: Managing the cultural challenges of digital transformation

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 with Customer Portals

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…

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The Importance of Attracting and Retaining New Hires with InsurTech

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…

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Millenials-CHSI

The Stats Are In: The Current Generation Wants More Online Interaction With Insurers

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…

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Cloud-Accounting-CHSI

The Impact of Cloud Accounting Applications for Insurance Companies

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,…

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Cyber-Security-CHSI

Understanding Your Online Footprint: Taking Concrete Steps to Protect Data

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…

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Saas-Checklist-CHSI

SaaS Checklist: Key Factors to Consider When Integrating SaaS

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…

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