The importance of effective policyholder communications should not be overlooked. Your communications with policyholders is where you’re most visible to them. The impression you set with those communications will set an expectation for all the services you provide to your policyholders.
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.
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.
We're giving away a $1,000 American Express gift card at the 2017 IASA Conference to show you how serious we are about improving your print operations.
On January 22, 2017, new United States Postal Service rates are set to go into effect, which could have implications on your 2017 print and mail budget.
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.
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.
MassPrinting attended our first IASA conference in San Antonio from June 12th through June 15th, 2016. Here are a few observations based on what we saw and heard throughout the conference.
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.
Conventional thinking is that an enterprise level Business Continuity (BC) / Disaster Recovery (DR) solution is a very large, expensive undertaking.
But it doesn’t have to be.
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?
As an executive leader of a P&C carrier, have you ever spoken these words?
Have you used these words as a business justification for not making difficult organizational change?
Do you view policy document output as a strategic communication vehicle?