CHSI Technologies

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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innovation

Traditional Insurers Maintain Relevance Through Innovation

Insurance technology is within the reach of small to mid-size insurance organizations and carriers, but do brokers and agents feel confident using innovative technology?   The short answer is yes. Innovative technologies are designed with the user in mind. Adopting new digital platforms no longer requires extensive training or new devices. Most technologies are cloud-based…

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Cyber Insurance

Finding New Areas of Value Using Insurance Management Software

Insurance management software improves an organization’s bottom line through its efficiency and the insights it generates. With tailored digital options, small-to-midsize insurance companies can access the powerful insurance management tools they need to engage clients, offer top-of-the-line digital services and attract and retain new, talented agents. Here are a few of the ways your organization…

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Insurance Underwriter

Reasons to Explore Underwriting Software

The heart of a successful insurance company lies within its underwriting. Without solid underwriting procedures, standards, and protocol, along with an efficient methodology for its implementation, a small insurance company is almost certainly doomed to fall behind or fail.   While this is not news for insurers, the means to achieving excellence in underwriting may…

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Cloud Insurance

The risks of being left behind in the migration to cloud computing

As cloud computing continues to grow in the business community, small to medium-sized insurance companies that are holding on to the old systems of in-house hardware, software, and IT departments are facing a real risk of falling behind their competitors. In fact, the risks are multi-dimensional and merit a closer look.   Smaller insurance companies…

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Insurance Data

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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Regulatory Compliance

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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Deathstar

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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Competitive Advantage

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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