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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Smart contract insurance partnership launches between AIG and IBM

IBM Supercomputer - smart contract insurance

The insurer and tech giant will use blockchain for managing complex forms of international coverage. American International Group (AIG) and International Business Machines (IBM) are partnering to create a form of smart contract insurance policy. This coverage will employ blockchain for the management of highly complex forms of international insurance protection. The two companies recently completed the smart contract coverage policy pilot project. The smart contract insurance multi-national policy pilot provided Standard Chartered Bank PLC with coverage. The pilot used blockchain’s digital leader technology for what IBM and AIG called…

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USAA insurance advertising withdrawn from Fox News

Sean Hannity USAA insurance advertising

The insurer which covers American military members and their families pulled its support for the show. USAA insurance advertising support was withdrawn from Fox News following Sean Hannity’s coverage of Democratic National Committee staffer Seth Rich’s murder. Hannity’s reportage introduced his own theory about the case, despite the fact that it conflicted with police reports. Police investigating the case determined that Rich was murdered as a part of a robbery that went gravely awry. However, Hannity reported his own theory that the murder was deliberate in order to silence the…

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Allstate Insurance Company launching new underwriting platform

Allstate Insurance Company

The insurer announced the implementation of the platform featuring automated data integration. Allstate Insurance Company has announced its intentions to implement the UnderwritingCenter platform. The platform was created by Myriad Development. The goal is to improve automated data integration while enhancing the quality of risk evaluation. UnderwritingCenter allows Allstate to automate its underwriting decision making processes. At the same time, Allstate Insurance Company can use the underwriting platform to integrate third party data and virtual surveys into the mix. In this way, the insurer hopes to produce greater accuracy in…

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New FTJ/FSL Vice President to Lead IT Efforts

KANSAS CITY, Missouri (September 12, 2016) – Forrest T. Jones & Company, Inc. (FTJ) and Fidelity Security Life Insurance Company (FSL) have appointed Roy Moore to a newly created vice president position to lead the organizations’ information technology (IT) efforts. Moore will provide strategic leadership as a member of the FTJ/FSL executive team and manage a department of nearly 50 IT professionals. He will report to Richard F. Jones, FTJ/FSL President. Moore joins FTJ/FSL after more than a decade of working in IT at other firms, most recently as chief…

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Enservio Webinar to Present Best Practices for Valuing Oriental Rugs

NEEDHAM, Mass. – May 17, 2016 – Is that a $75,000 Antique Mohtashem Kashan rug, or a $12,000 Kashan rug? Is the policyholder’s claimed item hand-woven or machine-made? How do you determine the relative worth of a high-end but water-logged Persian runner? Claims adjusters and other claims professionals interested in learning more about valuing high-quality rugs can register for a 30-minute webinar May 25 at 11:30 am EDT. To register click here. “Best Practices for Valuing Oriental Rugs” will be presented by Rosemary Kress, a review appraiser with 15 years…

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Millions of dollars in life insurance benefits owed to unknowing Californians

agent discussing life insurance benefits

There are thousands of people living in the state who are owed large amounts of unclaimed money. Officials in California have now said that thousands of people across the state are owed millions of dollars in life insurance benefits – sometimes in amounts that are greater than $100,000 – and that many of these individuals have no idea that this money is owed to them. The California Controller’s Office said that some insurance companies haven’t made any effort to find beneficiaries. According to the Controller’s Office, in many cases, there…

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Cutting the crop insurance subsidies is proving to be challenging

crop insurance rules

It is now expected that part of the reductions in subsidized coverage for growers will be repealed. Back in April, Republicans in Congress formed a new agreement in order to move ahead on a plan that was designed to create a savings of $5 trillion over the next ten years, and reductions in crop insurance subsidies were a part of this effort to balance the budget at the end of that time. However, as time has passed and the practical side of these insurance subsidy decreases plays out, it may…

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Chinese insurance industry welcomes insurers from other countries

china insurance industry

A recent keynote speech from President Xi Jinping pointed out that its economy would be opening up into the future. Chinese President Xi Jinping gave a keynote speech at the APEC CEO summit, in which it was revealed that the insurance industry – and other parts of the country’s economy – would soon be welcoming a greater amount of foreign investment moving ahead. The country will be opening up its doors to the rest of the world to a larger degree and limits will be reduced. According to Xi, when…

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Obama administration makes insurance news with EU agreement negotiations

europe insurance news industry

The U.S. Treasury and U.S. Trade Representative have said they plan to work for a covered agreement. The insurance news announcement has now been made that the U.S. Treasury and the U.S. Trade Representative intend to enter into negotiations with the European Union over a covered agreement regarding insurance. The goal of these negotiations will be to “level the regulatory playing field for U.S-based insurers and reinsurers.” E.U. insurance companies and industry regulators have been expressing frustration with regards to the American reinsurance collateral requirements. The issue at the center…

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