The Personal Lines Churn Crisis
The insurance industry is in the midst of a quiet crisis: according to PropertyCasualty360, customers are jumping ship at alarming rates. In auto […]
Personal line carrier success requires active management throughout the policy lifecycle
In today’s unpredictable world, carriers must ensure that both personal lines—home and auto—are not only adequately covered but also meticulously assessed for […]
Progressive shows the competition how to micro-focus on risk during transactions rather than amputate in a panic later.
Recent shocks from Covid, the Ukraine conflict, and the recession have severely damaged most personal line carriers’ profitability. For example, Geico, a […]
Pet Insurance is big but do the players really understand the risk?
The Pet Insurance business is growing and evolving rapidly. But does anyone really know what they’re doing? No long track record with […]
Cat Losses Wreaking Havoc: How Can Carriers Turn Chaos to Their Advantage?
Progressive’s recent financial woes, highlighted in a June 14th P&C Specialist report, paint a grim picture for the insurance industry. The company’s […]
To Speed Insurance IT Innovation, Get Innovation Out of IT
Speeding IT innovation processes is good but empowering non-IT staff to innovate without requiring costly coding is better.
So Much Data, So Few Results
The insurance market is filled with data venders gathering risk-related data on insurance customers to ensure that underwriting decisions are accurately tied […]
Pre-Loss Documentation Makes Catastrophes Less Catastrophic
The recent Q1 rebound in personal lines profitability, while encouraging, is a fragile victory. As the specter of escalating catastrophe losses looms large, insurers must proactively […]
Ineffective Underwriting Leaves Claims to Adjust the Odds – A Dubious Roof Claim Exposes Gaps
A multi-pronged approach addressing underwriting, renewal, and claim management practices is crucial. By proactively managing risk and fostering transparency, insurers can safeguard their systems against exploitation, ensuring fairness for legitimate claimants while protecting themselves from unnecessary losses. Vigilance and a commitment to comprehensive assessment are key to navigating the complexities of risk.
Not your Mother’s Insurtech: A Personalized, Proactive Response to Risk Discovery
The concept of choice and personalization is spreading across industries. From streaming services to airlines, customers value the ability to tailor experiences to their individual needs. This same approach has the potential to revolutionize the insurance world, particularly the often impersonal and reactive claims process.
VeracityID attending the Auto Insurance Report National Conference!
We will be attending the AIR conference for the 6th consecutive time. It’s one of the best forums for Auto Insurance Industry […]
The Hidden Hazard: Lithium-Ion batteries in your home and garage
Lithium-ion batteries are a marvel of modern technology, powering our lives with their compact size and impressive stamina. They're in everything from our phones to our cars. However, this convenience comes with a hidden risk that continues to be overlooked: the potential for fires and explosions.
