LAS VEGAS – SEMA Show, Nov. 5, 2019 – Innovation Group, an international insurance claims administrator for auto, property, body shops, fleet and leasing operators with 1,200 global clients, today announced official release of its cloud-based, integrated and scalable mobile claims management application that enables all parties to track/manage claims processing from FNOL to settlement. A digital hub for all stakeholders in the claims process, the Innovation Group platform brings complete transparency to the claims process and is accessible by adjusters, contractors, body shops and fleet operators, policyholders and…
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Nationwide announces the launch of a new digital insurance platform
The insurer has made the move in order to respond to a rising trend of consumer digital expectations. Nationwide has announced the launch of a new digital insurance platform. This has been a long awaited move by the company, which is responding to the growing need for digital options from a new generation of consumers. The new digital platform is called Spire, and it will officially launch before this year is complete. The Fortune 100 giant, based in Columbus, Ohio intends to make its digital insurance platform available to its…
Read MoreInsurance technology is driving the industry’s evolution
Various types of tech are changing insurers’ approach to appealing to prospective and existing customers. Insurance technology, also known as InsurTech, is pushing the industry in a fresh and targeted direction for all stakeholders. This tech is a vital component to appealing to a younger generation of consumers. Insurance technology deal values are up by 32 percent year over year as insurers and investors push to upgrade the industry and improve its profitability, said a recent Property Casualty 360 report. The report cited data and conclusions from the recent Global…
Read MoreDistributed ledger technology apps and blockchain could offer insurance industry savings
A recent study showed that this approach could save the industry millions of dollars per year. New research examined the way a consortium-based blockchain approach using distributed ledger technology (D.L.T.) applications could save the insurance industry millions every year. The analysis was conducted by the Institutes RiskStream Collaborative. The Institutes RiskStream Collaborative analysis examined the way taking a consortium-based approach to blockchain and distributed ledger technology could help two events in common within the property and casualty insurance sector. Those events are: first notice of loss following an incident and…
Read MoreMetLife to shake up life insurance industry with Ethereum blockchain adoption
The insurer is using the live tech to enhance efficiency and transparency throughout the claims process. MetLife is adopting the use of Ethereum blockchain in a move that will disrupt the $2.7 trillion life insurance industry. Among the goals is to help beneficiaries to know they are entitled to a payout when their family member or friend has died. At the moment, the industry is essentially opaque to both policyholders and beneficiaries. This situation is advantageous to neither the life insurance industry nor its customers. MetLife is hoping to change…
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