The insurtech arena evolves rapidly alongside advancing technology. As we approach 2024, it becomes crucial to scrutinize the trends that are molding the future of insurtech. This article delves into the significant trends within the industry and provides key insights that will characterize the insurtech landscape. Some of the Changes that are coming to InsurTechRead more
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Two key figures often find themselves obscured by misconceptions – brokers and adjusters. The difference between brokers and adjusters are not obvious. While both are indispensable to the claims resolution process, confusion persists regarding their roles and responsibilities. In this article, we aim to demystify the definitions, debunk common myths, and shed light on the distinctiveRead more
Technology has revolutionized the way insurance claims are processed, so the protection of sensitive data is paramount. In that regard, Claims Management, an intricate process that handles vast amounts of personal and financial information, has become a prime target for cyber threats. In this blog post, we will go deep into the critical importanceRead more
Universal Property and Casualty Insurance (UPCI) has gained prominence as a versatile insurance product, covering a wide range of perils. However, its efficient claims processing remains a significant challenge. In this article, we will explore what Universal Property and Casualty Insurance entails, its benefits, and how a cutting-edge claims management software can revolutionize the wayRead more
Claims subrogation is a crucial process within the insurance industry that often goes unnoticed by policyholders. However, it plays a pivotal role in ensuring fairness and cost-effectiveness in insurance operations. In this blog post, we will delve into the world of claims subrogation, exploring what it is, how it works, and how software for claimsRead more
In the intricate realm of claims management, reinsurance stands as a pivotal force, wielding the potential to reshape the landscape of risk mitigation and financial stability. The dynamic interaction between insureds, insurers, and reinsurers forms the backbone of effective claims management. In this blog, we will delve into the best practices that each of theseRead more
Industries across the board are continually under pressure to maintain loyal customers and improve customer experience. Giants like Amazon and Google have raised the bar for others’ customer interactions to match their level of personalization, seamless transactions, and anticipatory service like never before. Unsurprisingly, the insurance industry is no exception to this trend. Customers todayRead more
Choosing the right claims management software is crucial for insurance companies, requiring efficiency, accuracy, and effective workflow management. With so many options available, it can be challenging to identify the software that meets your specific needs. This article will simplify the process for you. Keep reading to discover the key factors to consider when selectingRead more
How Claims Management Metrics Help you improve your process Insurance claims analytics refers to the process of analyzing insurance claims data to uncover hidden patterns, insights, and opportunities. By using advanced analytics tools and techniques, brokers and companies can gain a better understanding of their claims data and use that information to make data-driven decisionsRead more
Customer Success: The Key to Business Success “It is more expensive to generate a new customer than to keep an existing customer” is common knowledge in business. The principle of retaining customers is the main driving force behind Customer Success: give customers a good experience and you’ll keep their business or generate positive referrals. Read more
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