Live Insurance News

Smartphones insurance trends are spreading across the country

May 12, 2015May 11, 2015 Julie Campbell

New Jersey has just become the latest among many states to approve electronic proof of coverage. New Jersey Governor Chris Christie has recently signed A-3905/S-2680 into law, allowing the state to join into one of the fastest growing insurance trends in which consumers will be allowed to display a proof of their coverage over a mobile device screen in addition to the traditional paper format. This provides only one more reason that the smartphone has become a more central part of the lives of the average American. It will now…

What do insurance premiums, the Apple Watch, and the best battery bank have in common?

May 4, 2015May 4, 2015 Julie Campbell

Smartwatches and other wearables are starting to be considered to be tools for the life insurance industry. Recently, there were two very important announcements in the technology and insurance industries that have suggested that for people who want to keep their premiums down, the best battery bank they can find will soon become a very dear friend. One of the announcements was the official launch of the Apple Watch for sale in the second half of last month. In mid-April, Live Insurance News also reported on an announcement made by…

Insurance industry may gain access to drones

April 15, 2015April 13, 2015 S.Vagus

commercial drones crop insurance industry news

AIG receives approval to use drones to assess property damage The American International Group (AIG), one of the largest insurance providers in the United States, has announced that it has received approval to use drones to inspect properties throughout the country. This approval has come from the Federal Aviation Administration, which enforces strict regulations when it comes to the commercial use of drones. These drones are small aerial units that are controlled remotely. These drones are typically used for recreational purposes due to federal regulations. Commercial use of drones is…

Life insurance could become more affordable with a fitness tracker

April 14, 2015April 11, 2015 Julie Campbell

fitbit fitness tracker health care life insurance technology

For the first time in the U.S., an insurer is using the same idea as pay as you drive coverage, but for a person’s health. A life insurance company in the United States is now offering a service that represents a first for the country, in which wearing a tracker that will reveal an individual’s health, location, and body information to reveal healthy lifestyle habits and reduced risk opportunities that could bring about a discount for premiums. While some are seeing this as an interesting opportunities, others are calling this…

AIG insurance drones receive FAA approval

April 13, 2015April 11, 2015 Julie Campbell

liability Insurance industry policy for drones

These flying devices can be used for the replacement of human inspectors for a better vantage point. Inspectors regularly need to climb up ladders onto the rooftops of buildings to check the situation after a claim has been made following a storm, for example, but this job may soon be done by insurance drones now that the FAA has made a new exception to its regulations. AIG has received the approval from the FAA to begin using drones to complete jobs that would be risky for humans. This will mean…