Live Insurance News

Car insurance company fails to use Facebook to learn about potential customers

November 3, 2016November 2, 2016 Logan B.

The social network has stopped a U.K. insurer from using people’s posts as a part of rate calculations. Facebook is now blocking U.K. car insurance company, Admiral Insurance, from being able to use customer posts as a part of their premiums calculations. The insurer intended to look at everything from the use of superlatives (for example, “never”), to the frequency of use of exclamation points and even the length of posts to decide a customer’s rate. That said, Facebook was quick to stop the auto insurance company before it could…

AT&T to sell smartphone insurance for broken phone screens

October 21, 2016October 19, 2016 G. Turner

This coverage will be available for owners of any of eight models of mobile devices. AT&T has announced that it will be selling smartphone insurance to cover a limited number of device models. This policy is designed to be somewhat different than the standard cell phone coverage. The broken phone screen insurance from AT&T will let customers obtain same day repairs. Overall, the smartphone insurance from AT&T sounds like the traditional form of coverage. Should the mobile device screen break, the company – and its insurance provider, Asurion – will…

Cyber insurance policies carried by a falling number of companies

October 7, 2016October 5, 2016 Marc

PricewaterhouseCoopers has recorded a sharp drop in the number of firms with coverage in the last year. According to a recent PricewaterhouseCoopers survey, the number of companies in Great Britain with cyber insurance policies has plummeted. Firms have rapidly dropped the expensive coverage even as they boost their security budgets by as much as twice over. This has occurred at the same time that an array of high profile businesses experienced cyber attacks and data breaches. PwC explained that firms hesitate to invest in cyber insurance because the coverage appears…

Apple Watch subsidy to launch at Aetna insurance

September 30, 2016September 28, 2016 Logan B.

The insurer has said that they will be willing to cover a “significant portion” of the price of the device. Consumers who have had their eye on a health and fitness tracker may be interested in the Apple Watch subsidy at Aetna. The insurance company has announced that it will be offering to pay for a portion of the price of the device when it will be used for keeping track of health data. That said, it is important to note that not all customers qualify for the subsidized smartwatch.…

Insurance industry social media can define an agent’s success

September 28, 2016September 26, 2016 H. Cutner

A massive generation of consumers depends on social and mobile but many agents and brokers aren’t keeping up. From the point of view of the Millennial generation, insurance industry social media is, for the most part, lacking. Sure, the large insurers all have their own Facebook page and Twitter accounts, but many agents and brokers don’t. Failing to provide even the most basic experience on social platforms can be a critical mistake. The main problem with insurance industry social media is that the presence simply isn’t there when it should…