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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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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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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Allstate employs cloud insurance technology to grow new businesses

cloud insurance technology

The insurer may be in its 80s, but it is keeping up with the latest tech and changes in the industry. Allstate first opened in 1931, but the cloud insurance technology it’s now using shows that it has no interest in aging. The insurer is branching into new areas to be able to build and grow new business as its environment changes around it. Over the last few years, Allstate Insurance launched its CompoZed unit to boost software services development. This use of cloud insurance technology gives Allstate the ability…

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Life insurance premiums may soon be selfie-based

selfie life insurance premiums

Facial recognition technology could be used to better understand a person’s overall wellness. Selfies have become exceptionally commonplace, but these self-portraits may soon have an impact on life insurance premiums. In fact, as facial recognition and analysis technology continues to improve, it may one day determine whether or not someone even qualifies for a policy. The reason is that selfies provide a great deal of information about a person’s health and aging. The various details picked up by a selfie, such as drooping skin, fine lines and wrinkles, contours and…

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Insurance technology jobs get hotter as AI’s role expands

insurance technology jobs

Customers find online self-service features increasingly appealing and the industry is hiring to meet that need. As the industry looks to artificial intelligence (AI) for improved customer service, insurance technology jobs are expanding in number and specialty. The more consumers show a preference for completing tasks online, the greater the need for large and skilled IT, programming and tech development departments. Current trends suggest that AI is a tech the insurance industry expects to be using in the very near future. In fact, a recent Accenture Plc survey suggested that…

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Allstate Insurance technology is now Amazon Alexa compatible

Allstate insurance technology

The insurer has added this new feature to make it easier for customers to find info and agents. Allstate Insurance technology is continually evolving and improving as the insurer works to keep itself on the cutting edge of innovation. This being the case, its latest lineup release has come along with Amazon Alexa compatibility. Customers using an Alexa device can now ask it for assistance in finding what they need from Allstate. A customer with an Amazon Echo, for example, can now take advantage of Allstate Insurance technology, too. 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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Artificial intelligence insurance technology replaces 34 human staff members

artificial intelligence insurance technology

In Japan, an insurance company has laid off a number of people, replacing them with an AI system. In a move that sounds as though it was plucked straight out of a science fiction novel, a Japanese insurer has used AI insurance technology to replace 34 human staff members. The company has started laying off its employees who have been replaced with an artificial intelligence system. The company in question is Fukoku Mutual Life Insurance. The employees were replaced by the insurance technology which is capable of calculating insurance payouts…

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