Latest Insurance News Articles Archives

State Farm uses digital tools to deliver faster insurance payouts on claims

May 14, 2021May 13, 2021 Logan B.

Insurance payouts - computer and dollar bills

The insurer has used a solution enabled by Fiserv to make the process possible. State Farm has rolled out a new digital solution for making insurance payouts on claims for its fire and auto customers. The digital payments solution uses technology from Fiserv, Inc. a leading global payments and financial services technology solutions provider. Using the Digital Pay option, customers are provided with improved flexibility after a claim. The Digital Pay service lets consumers choose a faster way to receive their insurance payouts on auto and fire claims. Many consumers…

Unemployment fraud up 17,000 percent says Allstate Identity Protection

May 13, 2021May 12, 2021 Nordstrom

Unemployment fraud - man using computer - binary code - scam

AIP found that as the pandemic sent more Americans online, cybercriminals took advantage of the opportunity. Since the start of the COVID-19 pandemic, Americans used the internet more frequently and for more purposes than ever before, while cybercriminals took the chance to steal identities for unemployment fraud. The simple fact that people were using the internet so often and broadly opened many doors to criminals. According to Allstate Identity Protection (AIP) data, unemployment fraud took off by over 17,000 percent year over year, a staggering figure to say the least.…

LexisNexis US Auto Insurance Trends reveals pandemic’s impact

May 12, 2021May 11, 2021 G. Turner

Auto insurance trends - Cars with break lights

The market was affected by dangerous driving increases, shopping volatility, fewer claims and policy renewal delays. LexisNexis Risk Solutions recently released its 2021 US Auto Insurance Trends report, which examined a spectrum of data revealing the directions certain activities are taking in this market. The report helps insurance carriers to better understand their evolving landscapes. In the 2021 US Auto Insurance Trends report, there was an analysis of the 2020 data, which provided insight into the impact of the COVID-19 pandemic on this industry. This included measures of change in…

AAA and IBA work together to promote roadside safety

May 11, 2021May 10, 2021 H. Cutner

Roadside safety - Tuck and car on the side of the road

The American Automobile Association and the Illinois Broadcasters Association have teamed up. The American Automobile Association (AAA) and the Illinois Broadcasters Association (IBA) have joined forces in a new roadside safety effort. Their goal is to increase awareness of the risk and encourage drivers to slow down and move over. The strategy the AAA and IBA are hoping to achieve is to remind motorists to “do the right thing” for roadside safety. By slowing down and moving over, they improve the chances of avoiding unnecessary tragedies on the side of…

Allstate Q1 revenue driven skyward by National General acquisition

May 10, 2021May 7, 2021 Marc

The insurer’s revenues rose 26 percent during the quarter, though saw an overall $1.4 billion loss. In an Allstate Q1 revenue statement, the insurer reported that it saw a substantial 26 percent rise from its National General acquisition and premium gains. This at the same time that the insurer dropped its life and annuity businesses leading to losses. The insurance company experienced an overall $1.4 billion net loss as the Allstate Q1 revenue simultaneously took off. Comparatively, in the same quarter of 2020, it saw an overall $513 million net…

State Farm works with American Red Cross on home fire safety

May 7, 2021May 6, 2021 H. Cutner

The two companies have partnered up to educate employees, neighbors, friends and family. A new home fire safety partnership between State Farm and American Red Cross has formed to help employees and friends alike to be better informed and prepared. The education program is meant to help agents, employees, neighbors, and friends. This home fire safety prevention and action education is meant to save lives and property. The American Red Cross responds to an annual average of 60,000 disasters. Most of those events are related to home fires. Last year,…

Choosing an Insurance Agency

May 6, 2021May 7, 2021 Guest Author

Insurance is something most people forget about until they are in a situation where they really need it. But, being insured is crucial to help protect the valuable things in your life. Some insurance is a necessity, such as personal auto insurance. However, insurance for other belongings such as jewelry and home contents is often overlooked. One thing that puts many people off becoming insured is not knowing what insurance they need and how to get the best deal. This is why using an insurance agency such as Barouh Insurance…

Category: Latest Insurance News Articles