With record temperatures soaring above 40°C (104°F) in various locations, Japan has experienced a surge in heat-related illnesses this summer. This unprecedented heat wave has led the Japan Meteorological Agency to issue widespread alerts against heatstroke and heat exhaustion, urging residents to stay indoors during peak daylight hours. A Growing Demand for Heat Stroke Insurance The extreme weather has not only impacted daily life but has also driven a significant increase in the demand for heat-related illness insurance. Over 12,000 people were hospitalized across Japan in just one week due…
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State Farm is keeping some California home insurance customers after all
Still, the coverage that they will be receiving won’t be the same as what they’re used to State Farm has announced that it will be making it possible for some California home insurance customers to renew their policies, after having previously announced that it would no longer be selling or renewing property coverage in the state. That said, there is an important change to the coverage it will be providing While this does mean that homeowners will be able to keep their home insurance coverage, they should be aware that…
Read MoreNationwide 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 More2018 Insurance industry trends laying the foundation for 2019
This year took insurers and their policyholders in a new direction that will define future movements. Every year reveals different insurance industry trends and as we look back on 2018, it has become clear that it was also defined by a specific direction. Last year was seen as a time in which regulations were changing broadly but 2018 was different. In 2018, the insurance industry trends in the United States showed an inclination toward forming new alliances and remaining flexible in an evolving marketplace, according to a recent Modern Healthcare…
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