Technologies driving Insurance into the Digital Age Technology in insurance industry has the potential to transform the sector as we know it. Digital technology can drive significant changes in the modern insurance domain. For modern insurers, the ever-changing landscape of the insurance industry has led to the advancement of technological acceleration in the entire sector. […]
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Common Errors and Omissions Claims Against Insurance Agents Costly errors and omissions claims in insurance have increased substantially over the past few years. This is why insurance agents need to take concrete steps to protect themselves. The biggest risk of being an insurance agent is the inaccuracy of errors and omissions claims. These claims can often accrue
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Data Analytics in Insurance: Key Benefits and High-Impact Use Cases The insurance industry is known to be a high-risk industry. Having to constantly navigate through claims procedures, pricing and promotion while minimizing compliance risks at all times can be quite a challenge. Insurance companies rely heavily on data and statistics for quicker decision-making. This data
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Artificial intelligence is quickly becoming the norm in many industries — the insurance industry included. A report by McKinsey states that “AI and its related technologies will have a seismic impact on all aspects of the insurance industry, from distribution to underwriting and pricing to claims.” The insurance industry has been a paper-intensive industry with repetitive, manual
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