As the incorporation of black boxes in cars becomes the norm, the tracking and transmittance of large amounts of information about driver behaviour can be gathered, potentially changing the motor insurance industry as we know it - forever.
We take a look at how insurers and underwriters can use the vast amounts of valuable data generated by their own businesses to create better services, meet customer needs, detect fraud, and manage claims.
Microinsurance is quickly becoming more prominent in developing countries throughout Africa, Asia and South America. Mobile technology is part of the solution and can play a big part in customer retention, ways to pay and access to services.
A need for a more modern approach to insurance will be required as a result of the introduction of Solvency II in 2016. In order to comply, insurers will need time to overhaul their systems and think about whether to keep operations in-house or outsource some of them.
The digital era is here and insurers are starting to embrace it - if albeit slowly due to short-term thinking, a traditional mindset and inefficient legacy systems. Throw telematics and social media into the mix and it becomes clear insurers need to take advantage of what digital has to offer.
Running a successful business is, in part, down to having a happy and loyal customer base. In this article, we take a look at how listening to your customers, building loyalty and a good service will stand you in good stead.
A number of factors have accounted for an increase in growth in Latin America's infrastructure and middle class - all contributing to further business opportunities for insurers.
With a pre-configured workflow and the capability to trade both personal and commercial lines business, switching to our internet-based Trader for Underwriting solution can bring a number of advantages to insurers when needing to upgrade trading systems.
Legacy systems will have significant impacts on workflow and efficiency for many as business becomes more competitive in the global marketplace. It is time to modernise with Trader.
As the insurance market expands across the globe, insurers will need to compete and trade in this marketplace. By globalising, companies can save money, and become more responsive and cost-effective.