Live Insurance News

Allstate agent commissions and insurance advertising comprise top growth plan focus

February 19, 2020February 18, 2020 Logan B.

Allstate agent commissions - Allstate Insurance Businessv

The insurer first disclosed its Transformative Growth Plan at the end of 2019. Two primary components of the Transformative Growth Plan unveiled in December 2019 include Allstate agent commissions as well as the company’s insurance advertising. The plan is meant to completely overhaul the insurer’s strategy toward business, efficiency and expenses. The insurance company’s plan includes details regarding the changes it is making to how it does business, how it is increasing its efficiency and cutting its expenses. Thomas Wilson, the insurer’s chairperson, president and C.E.O. discussed the plan during…

New Allstate app to help good drivers save more on auto insurance premiums

February 13, 2020February 12, 2020 Logan B.

The insurer is testing a new app-based program to monitor motorist behaviors for weekly savings opportunities. A new Allstate app has entered into the testing process with the goal of allowing good drivers to prove how safe they are behind the wheel in exchange for savings. The program monitors a number of habits such as speeding and braking hard. The idea expands on existing usage-based insurance strategies including those already offered by the insurer. The goal is to make it possible for good drivers to demonstrate that they are a…

What You Need to Know Before Using Your Life Insurance Policy as Collateral

February 5, 2020February 4, 2020 Logan B.

Putting up your life insurance policy as collateral first requires an understanding of what collateral assignment entails. By assigning any asset of yours as loan collateral, you’re legally pledging to give lenders proportional legal ownership of those assets in the event that you default on your loan. Life Insurance as Collateral 101 In short, putting up your life insurance policy as collateral on a loan means that you need to be ready to lose it in the event that you can’t pay your loan back. Before anything else, you need…

New York health insurance extension gives state residents an additional week

January 31, 2020January 30, 2020 Logan B.

The additional seven days will help New Yorkers to obtain the coverage they need in time. Residents of the state are receiving an additional week in which to purchase coverage within the New York health insurance deadline. This added seven days will help people to make sure they can get the health plans while shopping on the state exchange. Following the extension, the new deadline for state residents has become February 7. The new deadline gives residents an additional opportunity to shop on the New York health insurance exchange. This…

Affordable Care Act decreased health insurance racial disparities, study

January 22, 2020January 21, 2020 Logan B.

New research shows that Obamacare has made coverage more accessible to black and Hispanic adults. The Affordable Care Act (A.C.A.) caused a substantial reduction in racial disparities within health insurance access and coverage. This was particularly true among black and Hispanic adults, said a Commonwealth Fund report. The trend was particularly prevalent in the states that broadened their Medicaid eligibility. Before the Affordable Care Act went into effect, racial disparities were found to be substantially larger than what is reflected in the most recent available data. In 2013, the gap…