Live Insurance News

Top 5 Trends Shaping the Health Insurance Market

October 5, 2019October 26, 2020 Guest Author

Most people today agree that the best way to remain healthy is to embrace a lifestyle that incorporates regular exercise and a balanced diet. But even though you’re doing this correctly, you’ll want some form of insurance and knowing how to handle your overall finances which can’t be predicted like injuries, illnesses and other unexpected health-related issues or even unexpected death in the family. In such cases, health insurance solutions can help you. However, getting the right type of coverage is easier said than done. In this guide, we’re going…

Lloyd’s of London insurance market will write online for the first time in 2020

October 2, 2019September 30, 2019 G. Turner

The industry’s largest market will finally begin writing electronic business next year. Lloyd’s of London, the largest insurance market in the world, has finally announced that it will be taking its first steps into writing online. It will write its first business electronically beginning in 2020. The first online-only policy writing will begin operations as of January 1, 2020. The largest reinsurer in the world, Munich Re, will start writing policies by way of an online-only syndicate at the beginning of next year. This, according to statements issued by both…

Insurance technology is driving the industry’s evolution

September 19, 2019September 24, 2019 Julie Campbell

Various types of tech are changing insurers’ approach to appealing to prospective and existing customers. Insurance technology, also known as InsurTech, is pushing the industry in a fresh and targeted direction for all stakeholders. This tech is a vital component to appealing to a younger generation of consumers. Insurance technology deal values are up by 32 percent year over year as insurers and investors push to upgrade the industry and improve its profitability, said a recent Property Casualty 360 report. The report cited data and conclusions from the recent Global…

Are cyber insurance companies contributing to ransomware attack growth?

August 30, 2019December 20, 2019 Nordstrom

Cyber insurance companies - Security - ransomware

Certainly, they are not direct effort by insurers to boost cyberattacks, but a relationship has been proposed. It comes as no surprise to hear that ransomware attacks are on the rise, but new perspectives are connecting this trend with increasing the availability of products from cyber insurance companies. Essentially, the more organizations are covered against attacks, the more likely criminals are to be paid. As cyber insurance companies become more commonplace and companies and organizations better understand the importance of coverage, large policies are being purchased. As a result, when…

Virtual assistant insurance is highly recommended for entrepreneurs in this niche

August 26, 2019August 25, 2019 Marc

Virtual assistant insurance - customer support

VAs are facing very specific risks and exposures and are typically advised to buy coverage. Virtual assistant insurance can be highly beneficial for V.A.s as the unique exposures they face in their line of work due to the damage they could cause to their clients’ businesses and reputations. The potential damage that could be caused by a simple mistake is substantial and may be costly. Virtual assistant insurance takes into account the fact that V.A.s have access to a substantial amount of information about their clients. They can access and…