Live Insurance News

Technology is becoming a priority for the insurance industry

August 1, 2014July 31, 2014 Marc

Survey highlights the growing interest insurers are showing in technology Technology may soon be receiving more attention from the insurance industry. A new survey conducted by Xchanging shows that the industry is beginning to better understand the importance of technology and how it can be used to connect with and serve consumers. The insurance industry is notoriously slow in embracing new technology, opting to hold to traditional engagement methods that have been in used for decades. As technology begins to play a more important role in the daily lives of…

Accelerator aims to bolster Iowa’s insurance industry

July 4, 2014July 3, 2014 Marc

Two companies join Iowa’s Global Insurance Accelerator to help improve state’s insurance ecosystem Grinnell Mutual Reinsurance Company and IMT Insurance Company have become the latest insurers to join the Global Insurance Accelerator, a new insurance startup based in Iowa. The startup was launched in order to help create a stronger ecosystem for insurance companies throughout the state. Iowa is currently home to more than 200 insurers, with more than 54,000 employees working for insurers in central Iowa alone. The accelerator startup may help boost employment and give insurers the tools…

Telematics could have a major impact on the auto insurance sector

July 3, 2014July 3, 2014 Logan B.

Automakers are beginning to embrace new technology aggressively Juniper Research, a prominent market research organization, has released a new report concerning the growing popularity of telematics in the transportation sector. Telematics is a branch of technology that is meant to keep track of a person’s driving habits and vehicle information. This technology has become particularly popular in the auto insurance sector, where insurance companies are offering new services designed to promote safe driving and provide consumers discounts for practicing safe behavior. Use of in-vehicle applications is expected to skyrocket in…

Insurance industry must take the digital age seriously

June 26, 2014June 24, 2014 Logan B.

Report highlights the changing behavior of consumers around the world Improving digital engagement may be the key to success for the insurance industry, according to a new report from PwC. Consumers throughout the world are becoming more digitally oriented, relying on the online realm to conduct their daily lives. These people shop online, communicate with their loved ones online, and even work online, and if the insurance industry cannot cater to the changing needs of digital consumers, it may risk losing its ability to engage customers effectively. Consumers are favoring…

New insurance technology solution introduced by Standish

May 30, 2014May 27, 2014 S.Vagus

Standish releases bundled solution for the insurance industry Standish Mellon Asset Management Company, the fixed income investment arm of BNY Mellon, has launched a new collection of solutions for insurance companies operating in the U.S. The collection includes asset management, global custody, accounting, and reporting solutions. Much of the insurance industry has been undergoing a shift to become more reliant on technology. As risks in various markets begin to evolve, technology is becoming a powerful tool in mitigating these risks and the exposure that the insurance industry faces. New solution…

Telematics begins to have a major impact on auto insurance sector

May 23, 2014May 20, 2014 S.Vagus

Reed prepares to close deal on Wunelli Reed Elsevier, a leading information technology company, is preparing to finalize the acquisition of Wunelli, a developer of telematics solutions for the auto insurance sector. Telematics is becoming very popular in the insurance industry because of how it can be used by insurers to price policies more accurately. Demand for this technology has been growing steadily over the past few years and has reached an all-time high as insurance companies continue to look for ways to mitigate losses while also providing high-quality services…

Insurance technology is changing the game, says Swiss Re

May 20, 2014May 17, 2014 H. Cutner

The company released its latest sigma study, which has shown that tech has brought considerable change. A new sigma study released by Swiss Re has shown that insurance technology is considerably altering the way that insurers and customers interact, as each of those parties has been presented with considerable information and tools that had never before been available to either of them. Insurance companies are particularly benefiting with the amount that they can learn about their customers. What the conclusion of the study suggested was that insurers use the insurance…