Insurtech Business Model Using Smart Technology to Advance Insurance Industry

Insurtech Business Model Using Smart Technology to Advance Insurance Industry

The insurance industry is a powerful kingpin, with a total of $1.22 trillion net premiums in 2018, per an Insurance Information Institute (III) post of S&P’s Global Market Intelligence report. The Insurtech business model is an initiative for using smart technology in the insurance industry to streamline sales and customer experience. Insurance is one of the oldest industries and are not always adept to change. The dawn of Insurtech in 2010, a subset of Fintech…

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The Ultimate Tips for Buying the Right Insurance for 2017

The Ultimate Tips for Buying the Right Insurance for 2017

Major life events make it critically important to construct a financial security net, and buying the right insurance is a cornerstone element of that security net. That said, it’s all the more remarkable that a survey by Princeton Survey Research Associates International found an entire generation is woefully underinsured. Insurance costs much less than you imagine and the National Association of Insurance Commissioners (NAIC) found that many of the underinsured wildly overestimate the cost of…

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Unclaimed Insurance Benefits Waiting to Be Claimed

Unclaimed Insurance Benefits Waiting to Be Claimed

The Georgia Insurance Commissioner says there are millions of dollars in unclaimed insurance benefits waiting to be claimed, and now their office has an app to help find the beneficiaries. The new Lost Life Insurance Policy service will help Georgians search to find out if they’re owed unclaimed benefits. This sort of app is also available nationally as the NAIC has recently launched their new Life Insurance Policy Locator as part of the total effort by state insurance…

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Information Security Key to Success and Customer Confidence for Insurtechs Like LifeQuotes

Information Security Key to Success and Customer Confidence for Insurtechs Like LifeQuotes

SOC 2 is a certification established by the American Institute of Certified Public Accountants (AICPA) to evaluate companies regarding their Trust Services Principles and Criteria. The process involves testing companies for security, availability, processing integrity, confidentiality and the privacy of their data management systems. It’s become an industry standard for cloud-based technology companies and the certification is held by such tech heavy-hitters as Amazon Web Services and Google, and it validates the security of their…

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Insurtech Targets Life Insurance to New Parents

Insurtech Targets Life Insurance to New Parents

One of the hottest InsurTech players, Fabric, has targeted new and expecting parents. But what is InsurTech? This new sector call themselves insurtechs, and the focus is on using the latest in data and AI technology to sharpen the competitive edge for life insurance companies. “Life insurance isn’t something you think about – or buy every day – and the existing system is built to take advantage of your confusion,” says Adam Erlebacher, a co-founder…

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