It’s a new year, and the new postage rates from the United States Postal Service will be going into effect on January 27, 2019. It is wise to review the changes now, as minor changes to rates can have a large impact on your total spend on policyholder communications. Carriers mailing flats weighing more than an ounce will see a significant savings with the new rates.
This year MassPrinting attended BriteCore’s 10th User Conference, BriteCon. We attend the conference annually as a technology partner and sponsor and have been there every year since 2015. It was very evident to me this year that the evolution of technology in the property and casualty industry is well underway, and what’s come to be known as the “BriteCore Community” is one great example of the shift taking place.
It is time to start thinking about your 2019 operating plan and the associated key initiatives. It is time for you and your team to start brainstorming and prioritizing the strategic initiatives that will scoop up the valuable resources (money, employee time, products/services, partners, etc) and hopefully provide the best ROI to the business and make you a better company ($$ saved; PH retention; process efficiencies; developing a competitive advantage).
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.
Recent reports of a privacy breach by Aetna Insurance affecting 12,000 patients really sparked my interest. I’m sure a company such as this spends countless dollars securing technology infrastructure, has robust password rules, and implements firewalls to prevent hackers from stealing data. So, what could have gone wrong?
New United States Postal Service postage rates will be going into effect on January 21, 2018. It’s important to think about these changes now because they will have an impact on your policyholder communications budget this year. Planning for them now can help to minimize budget disruption later in the year.
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.
Recently, a group of MassPrinting employees attended the Insurtech Boston event to hear success stories from companies like Duck Creek and Quilt, and learn more about startups in the Insurtech space that are challenging and changing the way we all think about insurance.
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.
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.
