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Insights

The Rise of Analytics Software in Risk and Insurance

On a day-to-day basis, insurance organizations, even small organizations, handle large amounts of operational data. This data includes policy information, personal client data and customer relationship management data. Insurance software providers support the management of this data by fostering smooth workflows that increase agent productivity. But another level of data, analytical data, is gaining greater…

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Ensure Regulatory Compliance by Integrating Insurance Management Software

In 2018, insurance industry leaders are advising both large and small firms to embrace complexity. It seems insurance providers have little choice but to adapt. As data volume increases and security concerns mount, regulatory inconsistencies become an even greater concern. Here are a few ways data management software can help you make sense of complexity…

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Death Star vs. Small Insurers

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…

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How to gain a competitive advantage using Insurance Software and real-time analytics

In a constantly changing business environment, small to medium-sized insurance companies are finding that in order to remain competitive, real-time analytics must be employed on a greater basis than ever before.   The term “real-time analytics” refers to the practice of using data immediately upon its inception, and in order for its use to be…

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The Fallibility of Insurance Spreadsheets

Once a preferred tool for managing accounts and assessing the health of a small to medium-size insurance company, spreadsheets have gone the way of the floppy disk and Walkman radio in favor of insurance management software that just does a better job.   There are several reasons why companies that may still be relying upon…

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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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