For industries like insurance and trucking that are already having challenges with recruiting, this is going to make the problem worse. This may force some companies to hire under-qualified individuals, exposing such companies to new risks.
A recent study from The Hartford found that 31% of US employers believe that the strain on employee mental health is having a significant financial impact, and 52% said that substance misuse or addiction is causing workplace issues. Both figures are about 20% higher than March 2020.
Dais and Semsee are partnering to expand products available for carriers and agents. The collaboration will increase the variety and availability of insurance products on Semsee’s platform, while providing Dais customers immediate distribution opportunities with broad groups of agents.
Almost everyone has experienced an embedded insurance sales pitch at this point -- such as when buying a phone or a plane ticket. Embedded insurance is one of the fastest growing and most exciting ways the industry is tackling the underinsured problem.
Cyber is likely to be one of the dominant perils insurers are going to struggle with, and they’ll be looking for innovative advantages to manage loss ratios. A very logical first step is to ...
We estimate that the world is at least one-third underinsured, and simple products like this are examples of how to fix that problem. The clever use of data makes this a simple and customer-friendly product that will likely result in more travel insurance policies for Chubb.
Customer experience is everything in claims, and using AI to make the process easier and faster for the customer will lead to improvements in overall customer satisfaction.
Traditional insurance has many issues, and the money flowing into Insurtechs is evidence of the huge growth possible for companies that solve those issues.
Technology isn’t the only tool available when we look at complex problems, such as personal lines, and behavioral economics is another way we can help solve industry problems.
AI is going to transform the way we work in the insurance industry, so this week we are focusing on a recent report by Deloitte about AI and Insurance. Below, we’ve summarized a few key ideas and provided some insights.