Chubb launches Millennial-friendly Blink insurance brand

Blink insurance brand - Millennials using computer

The insurer has rolled out this new line of products to appeal to digitally savvy consumers. Chubb has unrolled an entirely new Blink insurance brand which is a line of new coverage products meant to be simplified for consumers comfortable with the digital experience, particularly Millennials. The coverage provided by these products is meant to be flexible and customizable, as well as modular. The Blink insurance brand coverage products are sold via modular insurance policies written in easy to understand, plain English. According to Chubb, the products sold under this…

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Auto insurance companies war to acquire consumers, says JD Power

Auto insurance companies - hands - car in bubble

Compared to pre-pandemic figures, industry trends are showing a return to that baseline. As the United States arrives at its first anniversary of the arrival of the COVID-19 pandemic, trends among auto insurance companies are starting to show a return to the baseline established before the crisis began. This, says a recent JD Power report, will only intensify the current war for customer acquisition. The stay-at-home orders from last year substantially reduced the number of drivers on the road. Many people worked remotely for the first time, while others were…

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Insurers from Progressive to Lemonade adopt insurance customer service chatbots

Insurance customer service chatbots - person using mobile phone

The majority of consumers and policyholders are comfortable using the tech for basic questions. Providers from insuretech like Lemonade to established, traditional insurers like Progressive are looking to insurance customer service chatbots to boost the response possible in support of their agents. This technology is being used for low-complexity questions to leave agents open for more complex issues. Progressive has built out its insurance customer service chatbots from a text interaction exclusively over Facebook Messenger, through to a Google assistant conversational experience that is voice activated. That tech is powered…

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Allstate and State Farm take on tens of thousands of Texas storm claims

Texas storm claims - Snow in city street

The insurers have deployed claim centers and technology to support affected policyholders. As Texas storm claims come rolling in by the tens of thousands, insurance giants like Allstate and State Farm have deployed staff and technology to meet policyholder needs. Allstate has deployed six mobile claim centers into the areas most heavily affected by the storms. The six Allstate mobile centers have been deployed for Texas storm claims in the areas most heavily affected in Dallas, San Antonio, Houston and Austin. Each of them has carefully included COVID-19 safety measures.…

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Nearly 100 insurance rate increases get the nod in Florida

Insurance rate increases - Florida neighborhood

The state Office of Insurance Regulation green lighted the hikes, suggesting a struggling sector. The Florida Office of Insurance Regulation has given its approval to almost 100 property insurance rate increases across the state. This indicates that the industry conditions in the state have reached a difficult point. The approvals were issued to dozens of homeowners and business insurers that filed for the hikes. According to a report published by News 6 WKMG, dozens of property insurers filed court documents with the intention of obtaining approval for insurance rate increases…

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Allstate Insurance reports an excellent bump in Q4 2020

Allstate auto underwriting - hand holding money

The insurer’s positive outcomes were linked with solid results and positive investment returns. As a result, Allstate Insurance, the industry leader has had a very strong in Q4 2020 which showed a rise in its income, lowered underwriting costs and strong investment returns during that quarter. The company announced that their net income had increased by 52 percent year over year. The revenues for the quarter came to $2.6 billion when compared to the equivalent quarter in 2019, when the net income for the company was $1.7 billion. In the…

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AAA offers car insurance policyholders another $90 million in coronavirus financial relief

Coronavirus financial relief - mask and money

Members with coverage through this insurer last year will be receiving an additional refund. AAA has announced that members who had auto insurance in effect from October 1, 2020 through December 31, 2020 will be receiving additional coronavirus financial relief. These policyholders will receive a 10 percent policy refund for the length of that coverage period. The coronavirus financial relief is being issued to AAA members whose vehicles are covered through the Interinsurance Exchange of the Automobile Club as well as its affiliate insurers. The company’s total refund to all…

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