Live Insurance News

Auto insurance hybrid coverage coming soon to Uber and Lyft

November 21, 2014November 17, 2014 Julie Campbell

Drivers for ride sharing services will soon be able to buy an amendment to their current policies. Ride share service drivers from companies such as Uber and Lyft will soon be able to buy an amendment to their auto insurance coverage that will provide them with protection from the moment that they sign on and are waiting for a call to pick up a rider, which is a new California law requirement. This has allowed for the creation of a type of hybrid personal commercial insurance policy for those drivers.…

Kansas earthquake insurance demand is on the rise

November 20, 2014November 17, 2014 Julie Campbell

The recent 4.8 magnitude quake in the state is becoming an increasingly common event where it was once rare. Insurers and agencies in Kansas are reporting that they have been receiving a flood of inquiries with regards to earthquake insurance coverage, following last week’s tremor that was measured at 4.8 on the Richter scale. Traditionally, this has not been a state in which there has been all that much interest in that form of insurance policy. Employees of insurance offices, particularly in the Wichita area, have been reporting that they…

Insurance industry values effective business processes over technology

November 19, 2014November 17, 2014 Julie Campbell

A recent study has shown that 77 percent of people believe that best practices are critical to business success. The results of an insurance industry survey conducted over the first half of November by Live Insurance News have now been released, and have shown that participants believed that effective practices were the most important part of running a successful business. At the same time, having the best technology surprisingly scored the lowest in this research. The researchers behind the study indicated that they had not expected technology to rate as…

195 Arrested in massive auto insurance fraud bust in California

November 18, 2014November 15, 2014 Julie Campbell

54 arrests were made throughout the Bay Area and involved claims estimated at over $250,000. A widespread auto insurance fraud investigation that spanned the state of California has now resulted in the arrest of 54 people in the Bay Area, after an alleged rash of falsified claims were submitted to insurers. This announcement was recently made by the Department of Insurance within the state. According to the announcement that was made by the state department officials, the claims from this insurance fraud bust could have led to over $250,000 in…

Is insurance technology the key to health plan enrollment of the “invincible” youth?

November 17, 2014November 15, 2014 Julie Campbell

Kentucky is using a mobile app called Kynect to try to reach more young people and encourage them to sign up. Officials in Kentucky are using insurance technology over mobile devices such as smartphones and tablets in order to try to be able to better reach young people and encourage them to enroll in health plans. The Kynect smartphone app launched with the insurance exchange in the state on Saturday. The Kynect mobile app represents some of the latest in insurance technology, in the hopes of appealing to younger demographics…