Live Insurance News

Cyber insurance is not a priority among many small and midsize businesses

March 23, 2023March 22, 2023 Nordstrom

SMBs often don’t see the need for the coverage because they don’t expect to be affected by such incidents. According to the results of a new poll, approximately half of the small and midsize businesses (SMBs) operating out of Singapore don’t feel that they need cyber insurance or are undecided as to whether it offers them any potential benefit. This trend aligns with those in the United States, according to several past polls. The SMBs feel that they are not at risk because they don’t store sensitive data online. According…

The insurance industry is broadly investing in chatbots

March 10, 2023March 9, 2023 Logan B.

Insurers are looking for new ways to improve their customer experience amidst a hiring shortage. The insurance industry worldwide is investing in AI-powered insurance chatbots to help boost the customer experience they can provide, even as they face their largest ever hiring shortage. Inflation, rising interest rates and greater global economic pressures have increased the drive insurers have to look at alternative opportunities to keep their customers this year. Many consumers find that it is preferable to interact with chatbots for completing many tasks. According to 2019 data (the most…

Insurance industry marketing data might shrink artificial intelligence bias

February 28, 2023February 28, 2023 Logan B.

AI is playing a growing role in the way insurers do business, but it’s clear that improvements are needed. What seemed like nothing more than science fiction a few years ago is now becoming a commonly accepted technology for the near future of the insurance industry as artificial intelligence (AI) rapidly develops. That said, as has been made more than clear in recent days with the goofs and flubs made by Google and Microsoft chatbots, it still has a lot of kinks to be worked out. Insurers have been increasingly…

Video Conferencing Tool iMind: Is It a Good Option for Business?

February 24, 2023March 1, 2023 Guest Author

iMind is a leading platform for video conferencing and collaboration. With the growing need to connect with colleagues, clients and partners remotely at any time, iMind provides an ideal solution. This platform can be used by businesses, freelancers and telecommuters to communicate efficiently with people in different locations. Pros and Cons Like any other tool, iMind has its own strengths and weaknesses. Here are some of the pros and cons you should consider before using it for videoconferencing. Pros: The platform is easy and intuitive to use. Whether you’re an…

Veridion raises $6 million to finance their proprietary APIs’ to benefit insurance industry

February 24, 2023February 24, 2023 Angela Linders

Veridion aims to “deepen” AI comprehension within the business landscape. The new-age data vendor is making the most of the AI (artificial intelligence) revolution and has announced the $6 million round financing and launch of their proprietary, self-service “Match & Enrich APIs”. Specializing in Firmographic Data, Veridion has specifically trained their APIs (Application Programming Interfaces) to understand the global business landscape, providing their clients – a number of which are high-profile insurtechs and insurance carrier – with the ability to access reliable data on 80 million businesses around the world.…

Allstate reminds consumers of the importance of identity protection during the holidays

December 23, 2022December 21, 2022 G. Turner

Scammers are taking aim at consumers shopping at this time of year, as well as at student loan borrowers. At this time of year, identity protection products can be particularly helpful to consumers, said a recent news release from Allstate, cautioning consumers about criminals targeting holiday shoppers and federal student loan borrowers. About a tenth of Americans have been victims of scams having to do with federal student debt forgiveness. About two in five of the student loan scam victims are contacted a minimum of once per week, according to…

How Do I Report My GSA Schedule Sales?

December 15, 2022 Guest Author

Reporting GSA sales is an obligatory part of your GSA Schedule contract. Under the terms of your contract, to remain compliant with GSA regulations, you need to report GSA sales regularly, otherwise you put your contract at risk. So, how do you report sales? Let’s bring this into focus. Meet FAS Sales Reporting Portal As a GSA Multiple Award Schedule (MAS) contract holder you are obliged to report every GSA sale you make. From 2018, the Federal Acquisition Service has introduced a new way to do this: the FAS Sales…