Improvement Should Be the Goal of Insurance Technology Solutions, Not Disruption

In a recent Coverager daily email, Clearcover CEO Kyle Nakatsuji was interviewed and asked his opinion on the most overused word in insurtech. His response was, “Disruption. The very term is competitor-focused, not customer-focused.”


He’s exactly right. We’ve actually been saying that for years. When we talk with insurance carriers, we never use the word disruption. That’s exactly what a carrier doesn’t want to hear. They don’t want anything to disrupt the policies their clients have in place.

Why a Completely Centralized Approach to Data Doesn’t Work

Carriers should avoid the temptation of thinking that their internal data is all that matters and seek industry-wide data from the experts. A big benefit of working with external solution providers is the extensive insurance specific knowledge and critical data analytics they have beyond just a single carrier.

Why Back-Office Data and Analytics Should be a Priority for Insurance Carriers

I recently saw an article on Digital Insurance that said insurance companies are struggling to manage analytics teams. The author said that over the past few years, many insurance companies have created centralized big data, data measurement, and data governance strategies and capabilities.

Using APIs to Simplify Document Outsourcing Solutions

Two insurance carriers, Leatherstocking Cooperative Insurance Company in Cooperstown NY, and Panhandle Farmers Mutual Insurance in Moundsville WV, made the decision in 2016 to outsource all their print operations to MassPrinting. Though they approached us separately, both use the BriteCore policy admin system (PAS) managed by IWS in Springfield, MO. Prior to working with us, both carriers managed their print operations internally, so we needed to identify an outsourcing application for Leatherstocking and Panhandle that could work with the BriteCore policy system.

 

Stop Mailing the Wrong Documents to Your Policyholders

As an insurer, protecting the integrity and security of policyholder information and operational procedures is critically important. We understand that seemingly small mistakes in policyholder communication are actually very serious missteps that can affect your policyholders - and you. 

The USPS is Rolling Back Prices This Spring

At the end of February, the United States Postal Service announced that the exigent rate case that was passed in 2014 has expired. What that means is that postage rates will decrease approximately 4% for first class rate category mailings beginning in April. The USPS is referring to this savings as 2016 Spring Rollback Pricing.

Policy Document Output Should be a Top 3 Strategic Initiative

P&C insurance executives are facing a deluge of strategic initiatives today. Premium growth, achieving retention goals, new products, efficient claims management, IT infrastructure investments. The list is endless. Faster, better, more efficiently are the key words driving unprecedented changes in how insurance companies improve performance and drive results.

Most likely, print and mail operations with an integrated solution for opt-in paperless policyholder access did not make the executive strategic initiative list. Our question is WHY?