Trends reveal huge growth in online insurance purchases

Last week, Allstate announced their acquisition of Esurance, the online auto insurance provider. The purchase was billed as an effort to expand Allstate’s online market, providing customers with more options and flexibility when purchasing coverage. There is another factor that may have contributed to the acquisition, according to a new report released by comScore, a global source of digital market intelligence. The firm conducted a survey in the U.S. that suggests that the online market is becoming increasingly popular amongst consumers. The survey shows that, of those participating, 20% of…

Read More

How will new health reform laws affect workers comp sector

Members of the Casualty Actuarial Society recently attended a conference concerning the effect the new health reform bill could have on the casualty and property industry.  Several concerns over possible effects on the worker compensation system were put to rest, and possible results on lowering medical malpractice suits were discussed. Because worker compensation medical claims are a part of the overall rise in healthcare, many have been concerned about possible changes under the new reform bill. After the statistics were broken down though, there didn’t seem to be much to…

Read More

Health insurance exchange debate over agents role

As states begin to take steps to establish their health insurance exchanges, private insurance agents in West Virginia are not quite enthusiastic of the efforts. State legislators are beginning t debate a pending bill that would create a state-run health insurance exchange. The measure could be passed this week, as Republicans who oppose the bill find themselves in the minority. Independent agent lobbyist, Gary Marion, argues that the bill would hamper agent’s ability to compete in the market. Health insurance exchanges act as a means for individuals and small groups…

Read More