Live Insurance News

Insurance industry values effective business processes over technology

November 19, 2014November 17, 2014 Julie Campbell

A recent study has shown that 77 percent of people believe that best practices are critical to business success. The results of an insurance industry survey conducted over the first half of November by Live Insurance News have now been released, and have shown that participants believed that effective practices were the most important part of running a successful business. At the same time, having the best technology surprisingly scored the lowest in this research. The researchers behind the study indicated that they had not expected technology to rate as…

Insurance industry claims process is not enough to keep consumers loyal

October 17, 2014October 14, 2014 S.Vagus

Survey from Accenture highlights the loyalty problem that the insurance industry has The claims process is often the target of criticism within the insurance industry. Consumers typically cite the way their claims are handled for the reason they are unsatisfied with their insurance provider. With thin in mind, many insurance companies take steps to improve their claims process, believing that this will ensure the loyalty of their customers. Even a well orchestrated claims process may not be enough to satisfy consumers, however, according to a new survey from Accenture. Results…

Insurance industry benefits from favorable economic climate in the US

August 4, 2014August 15, 2014 S.Vagus

State of the Economy - Insurance industry

Report shows that new jobs have been added to the insurance sector A favorable economic and business climate has had a beneficial impact on the insurance industry last month. The U.S. Bureau of Labor Statistics has released a report that shows that the insurance industry has added thousands of new jobs in June, marking modest growth for the industry and highlighting economic activity. The demand for employees among insurers has begun to rise, especially in the health sector where insurers are being forced to comply with new regulations coming from…

Examining the Negative Stigma Surrounding Insurance

July 19, 2014July 18, 2014 Note From The Editor

california wildfire victims angry frustrated

Insurance is often considered a necessary evil by many people, but why? The issue is somewhat complex and sometimes difficult to understand for certain due to the myriad opinions that are involved. For many, insurance is shrouded in a negative stigma because of certain philosophical perspectives. For others, the insurance industry makes questionable business decisions that add fuel to ever-present controversy. One thing to understand is that insurance is a for-profit industry. Companies are formed, thrive, and fail based on their ability to do business effectively within a particular market.…

China’s insurance industry is booming

July 10, 2014July 8, 2014 Marc

Insurers in China will likely find more success in the coming years China’s insurance industry has been experiencing rapid growth over the past few years and this growth is expected to accelerate, according to the China Insurance Regulatory Commission. As consumers throughout the country become more affluent, the demand for insurance coverage is beginning to rise. More people are purchasing coverage and insurers are pulling in more revenue from premiums. These premiums are likely to account for a significant portion of China’s gross domestic product in the coming years. Report…