Insurance industry professionals must cope with regulation risks

Insurance industry risks - Banana Peel Survey

A new study has revealed the largest risks faced by pros, the results of which have now been published in a report. New local and international level regulations are now being seen as the greatest risk faced by the insurance industry, according to a PricewaterhouseCoopers and Centre for the Study of Financial Innovation report. The new rules could considerably increase problems with compliance as well as costs for insurers. According to the 2013 Insurance Banana Skins Survey, new regulations regarding market conduct and solvency could “swamp” the insurance industry with…

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Insurance industry study shows leadership positions lack gender diversity

Insurance industry gender diversity

The research indicated that despite the fact that there are many women employed, they are not in these roles. According to the results that have recently been released from a study in the United States, the insurance industry is lacking in gender diversity across all leadership levels, even though there are a high number of women who have positions in the field. The study involved the data of 91 publicly traded companies as well as 9 mutual companies. The study was conducted by the team of primary author Mike Angelina,…

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Insurance industry study shows coverage knowledge generation gap

Insurance Industry

The research indicated that Australians in Generation Y know more about coverage than their parents. The results of a new study conducted by TAL have just been released, and are indicating that when it comes to knowledge about the insurance industry and how to properly apply it to their best advantage. This is particularly the case in terms of life policies, as those who are younger are most likely to have them. The research showed that Australians within the Generation Y age group are more likely to say that they…

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Insurance industry study reveals how people select their plans

insurance industry plan choosing factors

Research has revealed new insight into how the choices are made regarding the policies that are purchased. Policymakers in the insurance industry are always tweaking and altering the plans that are available in order to help to make them more appealing for people to purchase, without providing an option that will be overly costly to the company when compared to the revenue it generates. This includes the concept of the “moral hazard”, in which people change their behaviors because they are covered. For instance, the insurance industry has observed –…

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Satmetrix benchmark study reveals loyalty leaders in American insurance industry

Net Promoter software company, Satmetrix, which is the customer experience program marketplace leader, has released its 2012 Net Promoter Industry Benchmarks for 22 different industries, including the insurance sector. As a whole, the study was broader than it has been in previous years, involving the participation of over 30,000 American consumers who provided their rating feedback about over 200 brands across the various industries. The benchmarks that it creates are based upon the survey responses from consumers across the United States who rated their various experiences with the top brands…

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