COVID-19

Jessica Mann of Tinubu discusses the surety insurance industry and its need to digitally evolve.

Digital Insurance spoke with Troy about how his role at the insurer has changed since he started at the company in 2019.

The study found no impact from work-from-home on performance reviews or promotions overall or any individual subgroup.

The industry will increasingly harness data to meet the growing expectations and demands of switched-on consumers.

Digital Insurance spoke with Rich Gilbert, CIO and chief transformation officer at Aflac

CSAA’s new unit will provide call center support, claims management and customized digital employee training.

Liberty Mutual and Safeco’s 2022 Agency Growth Study surveyed independent agents and found that 56% planned to be back in the office full-time.

Insurtechs have made it easier for consumers, or the agents and brokers representing them, to get quoted for coverage.

The sector has leveraged the pandemic as a catalyst to accelerate a broad digital agenda.

In the Accenture Interactive Fjord Trends 2022 report, we see how shifts in five human behaviors and trends may affect society, culture and business.

Although almost 60% of employees at agencies are women, only 31% are owners and principals, according to data from The State of Women in Independent Insurance Agencies report, conducted by Liberty Mutual and Safeco Insurance.

As this booming market evolves, the value of innovation by insurtech startups is becoming clear. These companies drive change by meeting customer demands, as consumers increasingly demand insurance is delivered in a way that suits them – digital services that are quick and easy to use.

The demand for no-medical exam life insurance has grown in the last year, likely related to the COVID-19 pandemic. From October to December 2021, about 56% of applications submitted through Policygenius were for no-medical exam policies compared to January to March 2021, which was only 26%.

Research shows rapid adoption of predictive algorithms and digital identity technology will stem the pandemic-driven fraud deluge. Insurance fraud causes more than $80 billion in losses annually in the U.S. alone, according to the report.

As we emerge from the pandemic and look to the future, the case for cloud must be elevated beyond the limitations of IT savings, to how insurers can use it to address their biggest business challenges.

The disruptions created by the pandemic, natural disasters and a shifting workforce in the past year have challenged insurers to respond to market uncertainties with speed. Before looking at where technology met its goals and where there are opportunities for 2022, it bears noting how carriers mitigated uncertainty and aggressively charted a path forward. Carriers didn’t shy away from the need to digitize or accelerate movement to the cloud.

There’s little faith in the global economic recovery accelerating, with officials and business leaders citing climate change and rising social tensions, alongside the pandemic, among their top risks, the World Economic Forum found.

New research from SMA shows that the plans and progress of some transformational technologies are accelerating ahead as others have hit the brakes.

Two of the honorees, Lindsay Hanson, vice president, head of behavioral insurance, global strategy and delivery at John Hancock and Emily Hartman, chief of business teams at Allianz Partners spoke during the “Women in Insurance Leadership Honorees Panel” about leadership and lessons learned.

The stay-at-home mandates, school and business closings, and increased remote work arrangements emanating from COVID-19 resulted in a significant decrease in motor vehicle accident frequency in 2020, with that trend continuing into 2021. There are many other, less obvious forces that actuaries and company management should consider as 2021 year-end reserves are analyzed.