Category: Technology

Agents and professionals are advised to keep up with technology – this will be sure to help with running an agency or brokerage. Learn what company is coming out with the latest claims program or risk mitigation software.

Wawanesa Mutual unveils new digital education platform for insurance brokers

Logan B.
Platform for insurance brokers - digital learning

The insurer has introduced the technology to provide its partners with meaningful support. Wawanesa Mutual Insurance Company recently announced its new digital education platform for insurance brokers to provide additional support for those partners. This new tool offers convenient access to on-demand training tools and modules. The new Wawanesa training platform for insurance brokers is meant to offer education in an effective, efficient and convenient way. Called ‘Broker Continuing Education’, this platform offers training opportunities precisely when the partners need them. Though it is already being populated with a number…

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Cyber insurance companies could lose $90 million to SolarWinds hack

G. Turner
SolarWinds Hack - Hacker - Computer

Insurers will need to foot the bill for many costs such as incident response and forensic services. The SolarWinds hack is expected to cost cyber insurance companies about $90 million total for covering forensic services and incident response services for compromised clients. That said, many experts are saying that this expense could have been significantly higher. “Although the SolarWinds attack is a cyber catastrophe from a national security perspective, insurers may have narrowly avoided a catastrophic financial incident to their businesses,” said BitSight director of insurance programs and partnerships, Samit…

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Deep fake insurance losses will test cyber policies, cautions CyberCube

H. Cutner
Deep fake insurance losses - artificial intelligence - mask

A cyber analytics specialist is cautioning of the danger and cost of these videos and audio files. CyberCube, cyber analytics specialist, is cautioning the industry that deep fake insurance losses may test the strength of insurers selling cyber coverage. It pointed out that these videos and audio files are increasingly found in cyberspace and could cause a major threat to covered businesses and their insurers alike. According to the report, the threat could become a major one within the next couple of years. This technology provides cyber criminals with powerful…

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State Farm chosen as Ad Age Marketer of the Year for 2020

Marc
Ad Age Marketer of the Year - Image of Trophy

Only ten organizations receive this honor from the global media brand every year. State Farm has received the Ad Age Marketer of the Year recognition for 2020. The global media brand names only ten companies with that recognition each year. This year’s recognition spotlighted companies that were able to thrive despite the pandemic impact. In the publication announcing the Ad Age Marketer of the Year for 2020, the company identified State Farm among those businesses that “didn’t just survive the pandemic, they thrived.” This year was a difficult one for…

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Insurance customers prefer conversational AI and digital messaging communication

G. Turner
Conversational AI - person using computer

New research shows that customers would shop more from insurers if they communicated in this way. A survey conducted to better understand insurance customer attitudes and behaviors with insurers has found that conversational AI and online messaging are highly appealing methods of communication. The results of the research were published in the 2020 Survey of Consumer Preferences Around Insurance. The survey was conducted in October 2020. It involved the participation of over 2,500 respondents in the United States, United Kingdom and Australia. This small, preliminary research indicated that the majority…

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