Revolut travel insurance covers you using geolocation tech in your phone

Revolut Travel Insurance

This Fintech startup offers a subscription service offering international medical and dental coverage. The new Revolut travel insurance, the product of a Fintech startup, now offers international medical and dental coverage. The product involves the use of a mobile app and geolocation technology. For a small daily subscription fee, users are covered even when they travel from one country to another. The unique new form of Revolut travel insurance lets travelers purchase a basic cheap coverage that will follow them wherever they go, regardless of whether they head out of…

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IDRA drone insurance policy receives much needed streamlining

drone insurance policy

The International Drone Racing Association has condensed its liability coverage into a single policy. The International Drone Racing Association (IDRA) has created a new condensed version of its drone insurance policy. This makes it possible for pilots to purchase a single policy regardless of the number of drones they have. This new policy has worldwide coverage for IDRA members and does not have a deductible. The new drone insurance policy provides $1 million in coverage for $265 per year. Upon purchasing the coverage, the insurance becomes active within 24 hours.…

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Self driving cars receiving technology upgrade to reduce winter auto insurance claims

winter driving self driving cars

The driverless vehicles are being designed to be able to make their way safely along snowy roads. While self driving cars may be the direction the industry will be taking in the future, winter storms and snowy roads continue to be as much of a threat of auto insurance claims for those cars as the ones driven by people. Driverless vehicles currently operate best in cities with clearly marked streets and lanes. Though self driving cars have been performing quite well in their testing phases, they have been developed for…

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Insurance agents love Mogix products for themselves, their staff and their clients

Black friday mogix insurance agent gift

These backup battery packs and emergency auto multi-tools are too practical not to love. Mogix has announced a huge coupon code for its insurance agents customers to use on Black Friday (starting Today at 4:00PM (PST) and running through Monday at 11:59pm). It offers 36 percent off the brand’s top products such as its external battery chargers, its mobile accessories case and its digital tire pressure gauge and auto safety tool. Amazon customers shopping on Black Friday weekend simply need to use coupon code MGXHODAY to save 36 percent. Though…

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Mobile insurance claims are taking a while to catch on with consumers

Mobile insurance claims

J.D. Power data shows insurer apps aren’t rapidly taking off among policyholders filing for payments. Mobile insurance claims aren’t very popular among policyholders, says J.D. Power data. Even though auto insurance companies across the country have launched massive advertising campaigns, consumers are still slow to adopt the tech. As much as mobile insurance apps are being used more frequently, that isn’t the case for making claims. J.D. Power released its 2017 U.S. Auto Claims Satisfaction Study. Within it, the firm indicated that the slow adoption of mobile insurance claims technology…

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Insurance drones will be broadly deployed by Hurricane Harvey claims adjusters

hurricane insurance drones

The use of these unmanned aerial vehicles has been adopted by Allstate, State Farm and other major property insurers. Property insurance companies in Texas and Louisiana, such as Allstate and State Farm, are preparing to use their insurance drones to survey the aftermath of Hurricane Harvey. This insurance technology is expected to have an important role in inspecting commercial and residential damage. The insurance drones will first take to the air early this week, once the last of Hurricane Harvey makes its way out of the regions. If all goes…

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Life insurance medical exam may soon be a thing of the past

Life Insurance medical exam

Technology and data services may soon provide an accurate and cost-effective replacement to health tests. A life insurance medical exam is often one of the most dreaded parts of applying for that type of coverage. That said, as systems and data continue to improve, this requirement may not be needed for much longer. This could mean that the added need for blood and urine samples, weigh-ins and blood pressure checks may stop. The reason is that the information obtained through a life insurance medical exam may be replaced by technology…

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Health insurance telemarketer may be forced to pay $82 million if FCC gets its way

robocall illegal health insurance telemarketer

The Federal Communications Commission proposed the fine as a penalty for illegal nationwide robocalls. The Federal Communications Commission (FCC) proposed an $82 million fine for illegal health insurance telemarketer actions involving robocalls across the country. The fine would be applied against a man from North Carolina and his insurance company, which were behind the robocalls. The FCC proposal accuses the man and insurance company of making over 21 million illegal robocalls. The health insurance telemarketer conducted the robocalls in an attempt to sell policies. The man the FCC accuses of…

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Farmers insurance drone program takes off

Farmers insurance drone

The insurer has become the latest among the large companies to use unmanned aerial aircraft systems (UAS). The Farmers Insurance drone program had its official launch yesterday as the insurer rolled out a fleet of the devices. These unmanned aerial aircraft systems (UAS) will be used to improve the customer claims experience. Insurance companies are increasingly using drones to view damage to roofs and other difficult to reach places. The Farmers Insurance drone units will be deployed by adjusters who need to assess the damage left behind by severe weather.…

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Insurance company drones are a common part of the claims experience

insurance company drones aerial

These small pieces of equipment make it faster and safer for adjusters to create their estimates. To an increasing degree, adjusters are using insurance company drones to help them to assess the damage in routine claims processes. These gadgets let adjusters check out rooftops, and other difficult to reach areas without having to risk climbing up on a ladder or checking into parts of properties that have sustained damage from weather or other unexpected events. While this was once a rare practice, using drones for insurance claims assessments is becoming…

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