6 Technology Trends That are Helping Insurance Companies Ensure Better Customer Service

customer data insurance technology trends 1

Did you know that the United States is the largest insurance market in the world? With total premiums worth $2.8 trillion in 2021, the US dominates the global insurance market as per a report published by Statista. Trailing the US in this ranking are the United Kingdom, Germany, Japan, France, South Korea, and so on. However, the gap between the US and the others on this list is mammoth, where America dominates over 50 percent of the global insurance market share.  Despite its dominance in the global market, US insurance…

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4 Trends Shaping the Commercial Property and Casualty Insurance Industry

insurance trends in commercial property sector

The year 2022 was the worst one for the property insurance and casualty insurance industry (P&C) since 2011. Insurers are likely to pay out billions of dollars due to severe weather conditions in the United States.  Hurricane Ian, which struck Florida in late 2022, caused the second largest insured losses after Hurricane Katrina, resulting in $65 billion alone. Swiss Re has revealed that the natural catastrophe losses of more than $100 billion surpassed the ten-year average by 40% last year.  Even AM Best’s new special report has made shocking revelations.…

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Florida insurance agents know they offer more than AI

Insurance agents - Robots as staff

Many of these professionals aren’t feeling threatened by artificial intelligence technology. In California, insurance agents have been voicing their concerns over the potential threat artificial intelligence (AI) could have to their jobs. However, in Florida, these professionals seem to feel far more confident that they can offer a great deal that AI cannot. Florida’s property insurance industry has been struggling for several years due to rising risks and costs. “Things are getting better. They are,” said Great Florida Insurance owner Gordon Gillespie, who was among the hundreds of agents at…

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The Main Benefits Of Sage 50 For Insurance Companies

sage 50 insurance accounting software

The right accounting software for insurance companies should make it possible for users to focus on their core business, without being held back by any sort of accounting issues. Looking for a solution that caters to the unique needs of insurance companies is much better than going with general accounting software.  With that in mind, Sage 50 is a great accounting solution for insurance companies due to a number of important reasons. Continue reading below to find out more about the main advantages of this accounting solution for insurance companies. …

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International Industry Leaders Convene at Global Insurance Symposium

Global Insurance Symposium News

The premier three-day event featured industry-shaping insights for attendees The 2023 Global Insurance Symposium brought together industry and regulatory leaders from around the world for three days of collaboration, networking and learning in Des Moines, Iowa, – the hub of the US insurance industry. With the theme of “Thriving in a Changing World,” 500 attendees participated in relevant panels, networking opportunities, breakout sessions and more, gaining valuable insight and direction. “The Global Insurance Symposium offered industry expert speakers and attendees the ideal setting for collaborative efforts as we to continue…

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