Tag: insurance industry news

USAA and State Farm blockchain platforms go live

H. Cutner
USAA and State Farm blockchain platforms go live - business - digital

The insurers have launched this new form of processing all subrogation claims. The USAA and State Farm blockchain platforms have gone live for processing all subrogation claims. They are hopeful that other US carriers will also choose this strategy throughout this year. Many large insurance companies have been investigating blockchain platform strategies. The State Farm blockchain interest first started in 2018 in investigating its potential for subrogation. The partnership between that insurer and USAA started in 2019. The two companies represent a combined 12 percent of the $620 billion American…

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First Allstate Chief Sustainability Officer appointed

Marc
Allstate Logo on Sign - Allstate Chief Sustainability Officer

The insurer announced that Susan L. Lees would be the first person to take that position. The first ever Allstate Chief Sustainability Officer was recently announced, as Susan L. Lees took the position. Lee’s previous role as Chief Legal Officer and Secretary of the corporation will be taken over by Rhonda Ferguson, Executive Vice President and General Counsel. Lees is taking the position immediately, as is Ferguson who replaced her in her former role. “This realignment of responsibilities is consistent with Susie’s decision announced in August to focus on environmental,…

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State farm fire prevention project tests electrical wiring sensors for problems

Nordstrom
State Farm fire prevention - wires in walls

The insurance company is sending homeowners sensors in a pilot testing for electrical defects. A new State Farm fire prevention program pilot has launched. It will use sensors to detect electrical wiring hazards in 40,000 homes in California, Texas, and Arizona. The goal is to provide consumers with a way to prevent electrical wiring fires and measure savings. The State Farm fire prevention pilot will send the sensors to the homeowners to measure customer acceptance and potential savings if the program were to be broadened. The insurer’s vice president and…

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Allstate points to Better Arguments project to avoid toxic conversations

Marc
Better Arguments Project - woman, man facing away from one another

The insurer issued a news release stating that toxicity in communications are “threatening our future.” Allstate Insurance recently issued a news release praising the strategies of The Better Arguments Project. This strategy is meant to help Americans to better navigate the current environment which consists of the “deepest political and cultural divides in our nation’s history.” The insurer acknowledged that the divisions are only worsened by the COVID-19 pandemic crisis. According to Allstate, “our collective future depends on Americans’ ability to come together.” However, at the same time, it didn’t…

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Insurance industry diversity challenges addressed at WSIA 2020 Virtual Annual Marketplace

Logan B.
Insurance industry diversity - Hands - business

Leaders from government agencies and insurers alike acknowledged the current problem. Insurance industry diversity challenges were recently addressed at the WSIA 2020 Virtual Annual marketplace. The Wholesale & Specialty Insurance Association (WSIA) holds the event annually. The event coincided with the WSIA’s announcement of its formation of the Insurance Industry Diversity Foundation (IIDF). The goal of the IIDF is “to promote and attract diversity in race, gender, sexual orientation and disability and to influence meaningful progress in the diversity of the insurance industry and its talent pipeline.” The panel discussion…

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