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The world is underinsured, this is yet another example of how innovative products can help people get the coverage they need. It’s an interesting approach that covers the universities expected return in investment with insurance.
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.
Agents who use both systems will be able to sell more products directly to consumers via the Dais digital storefronts, which are configurable, consumer-friendly online sales experiences that can be personalized for targeted markets and distributed through online marketing and embedded insurance partnerships.
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.
According to a recent survey by Celent, carriers are viewing agency portals (and the agency experience overall) as key growth drivers. 94% of carriers surveyed aim to have an above-average or world-class agency experience, and 65% rate their current experience as average.
With around 50% of customers willing to consider coverage from new insurers, the recent influx of capital for insurtech startups represents a real challenge for traditional insurers…
A great example of innovation outpacing insurance offerings: how does insurance adapt to a world in which people self-experiment? If use of this technology becomes mainstream it could have an interesting impact on loss-control for workers comp, as learning for proper lifting/moving techniques and other such trainings could be accelerated.
Many apps have built trust with their user base. Insurance is a natural extension of what those apps can offer. It is a huge opportunity for insurers and the companies with which they partner to leverage that customer trust to move horizontally into insurance upsales.
One key area of growth is embedded insurance, an opportunity of which consumers are overall in favor. Building connections that enable insurance sales and servicing within other products—property insurance as part of the loan process, for example—is a growing trend that we’re watching closely.
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