Senior auto insurance rates drop $200 for Delaware drivers

Senior auto insurance - Senior Driver - Mercedes-Benz

A house bill signed into law last year went into effect on May 1 and will bring savings to seniors. House Substitute 1 for House Bill 80 (HS 1 for HB 80) will bring considerable senior auto insurance premiums reductions this year. The bill was signed August 1, 2017. The legislation became effective as of May 1, 2018. The new law prohibits car insurance companies from boosting rates for certain specific reasons. The senior auto insurance law stops car insurers from hiking premiums just because a person has turned 75…

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Allstate artificial intelligence brings customer support to a new level

Allstate Artificial Intelligence - AI - Brain - Think - Technology

The insurer is using the Amelia AI tool from IPsoft to provide its U.S. call center teams with assistance. Amelia, the new Allstate artificial intelligence tech, has joined the insurer’s customer support teams across the United States. The AI tech involves the use of a cutting edge platform from IPsoft, a New York based tech company. Amelia now uses her AI platform to assist call center staff members in boosting their customer experience. The Allstate artificial intelligence platform was initially deployed as a test in September 2017. Before and since…

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Alibaba and Tencent’s insurer rolls out blockchain health insurance technology

Blockchain health insurance - Technology - Health Logo

The new infrastructure tech is already being used with 100 hospitals in China. ZhongAn, a massive insurer in China, recently started using blockchain health insurance technology in a partnership with 100 hospitals. The insurance company is a massive one, providing infrastructure to 10 local providers. The importance of this technology in the Chinese and global insurance sectors The insurance industry, the health care industry and technology are deeply intertwined among each other. They are now dependent on each other as well. Now, Alibaba and Tencent’s insurer has entered into one…

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Flood insurance program risks expiry (again) as hurricane season starts

Standard homeowners insurance policy may not cover short term rental damage

Seven million homes are at risk of damage from Atlantic storms and coverage may be up in the air again. After already facing a named storm this year, the flood insurance program is back in the spotlight. Yet again, after the disaster – both left behind by weather and in the expiration of the program – in 2017, the coverage program is due to expire. Last year brought record-breaking damages from natural disasters and the full totals aren’t in yet. This year, Americans are feeling less confident about their safety…

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95 percent of US healthcare groups opposed Trump’s new health insurance rules

US Healthcare Groups - Opposed to Changes - Hand stopping dominoes

Nearly every group that submitted formal comments officially panned the strategy the president proposed. Over 95 percent of the US healthcare groups that submitted formal comments regarding President Trump’s strategy to dismantle the Affordable Care Act were opposed to his efforts. They either criticized the new health insurance rule strategy or flat-out opposed it. The health insurance industry isn’t impressed with the president’s efforts to cut apart Obamacare. A new L.A. Times review of the thousands of comments formally submitted by US healthcare groups to federal agencies showed heavy criticism…

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2018 Hurricane Season should be an average one, says Munich Re

2018 Hurricane Season - Hurricane - Storm - Florida

The Germany based reinsurer is predicting fewer storms than 2017’s record breaking year. Munich Re is predicting an average 2018 Hurricane Season. This comes as somewhat of a relief following the record-breaking destruction left behind last year. The 2017 season brought insurance companies approximately $135 billion in costs. Munich Re is the second largest reinsurance company in the world and releases its predictions publicly. The world’s second biggest reinsurance company predicts that there will be notably fewer powerful tropical storms in the 2018 Hurricane Season than there were last year.…

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Could health food insurance support preventative medicine and natural treatments?

Health food insurance - fruits and vegetables

Doctors and healthcare providers are increasingly pursuing food-based interventions. Health food insurance could one day be on its way to American plans. Just as health plans currently cover some prevention, prescriptions, procedures and doctor visits, they may one day cover certain foods. The idea is that food-based interventions can effectively prevent or treat certain conditions. The food-based intervention trend is rapidly expanding across the United States. In this way, doctors are recommending that patients prevent conditions by eating right. Similarly, some conditions can be treated more effectively when a patient…

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Blockchain insurance technology goes live through EY’s Maritime

Blockchian Insurance Technology - Cryptocurrency - Ocean

A new pilot is underway to use the tech most often associated with cryptocurrencies for new uses. A number of companies are working together on a blockchain insurance technology pilot program. The idea is to trial the platform for the global shipping industry. The tech has now gone live and has started being used for commercial purposes through the pilot. The new blockchain insurance technology platform is called “Insurwave.” The Earnst & Young professional services firm worked with the Guardtime software company on this project. The platform was created using…

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General Electric seeks to divest itself of insurance business

Insurance Business - Long Term Care

GE wants to step away from the long term care insurance that is now costing it far too much. General Electric Co. is currently seeking to unload its troubled insurance business. The American multinational conglomerate has been working with investment bankers to identify opportunities. The company’s insurance branch took on a wealth of expenses following shareholder lawsuits. GE’s insurance business was required to cover extensive charges at the same time it faced lawsuits from its shareholders. The company was also the subject of an investigation by United States regulators, according…

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Mayo Clinic downsizing leads to heath insurance unit sale

Health Insurance Unit - Medicine - Doctor - Heart rate - health

Corporate downsizing has led the highly reputed organization to take a new direction with its coverage. The Mayo Clinic has sold its health insurance unit in western Wisconsin. Patients covered by those policies will be offered a new option for their coverage. The policyholders were not without warning as the Mayo Clinic has been discussing it for years. The Mayo Clinic sold its health insurance unit to WEA Trust, a public employee insurer. The academic medical center decided within the last couple of years that it would put its health…

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