Seamlessly Transforming Legacy Systems Without Major Overhaul
In today’s insurance industry, carriers face significant challenges due to outdated, cumbersome technology. As P&C Specialist highlights, even major players like Liberty […]
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 […]
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 […]
Aerial Imagery Sparks Debate – Is There a Better Way to Assess Risk?
The growing use of aerial photography by insurance carriers has sparked controversy, pitting insurers eager to streamline risk assessment against homeowners troubled by a process they feel is opaque and potentially unfair. As insurers explore technological solutions to improve efficiency, could alternatives like VeracityID's idFetchTM provide a middle ground that balances accuracy with privacy and consumer empowerment?
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.
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.
How do you avoid another boom bust cycle?
The current swath of downgrades exposes the limitations of legacy underwriting systems. Insurers must move with urgency. VeracityID offers the technological foundation insurers need to enhance risk selection, streamline operations, and protect their profitability in challenging times.
Sudden & Accidental – or Is It?
Even a straightforward claim can be hiding something. Better underwriting, smarter data, and inexpensive, tech-driven customer self-inspection if we want to avoid funding repairs for neglected problems.
The Case of the Mystery Addition and Surprise Damage Claim
The ripple effect of not knowing enough about a risk, especially when it changes, leaves carriers underpriced and unprepared for losses.
