Historically, time to market for new insurance products has been slow. Operational silos, complicated infrastructures, and legacy processes all contribute to delays — and, as such, can be corrected internally to minimize friction points. However, what can’t be easily corrected is the overall ...
The insurance industry has undergone major changes over the past year, primarily due to COVID-19. According to a survey from KPMG, 85% of CEOs in the insurance industry claim that the pandemic has sped up both digitalization of operations and the development of “next-generation operating...
The COVID-19 pandemic has caused turmoil for insurance. To aid consumers as unemployment and uncertainty spiked, state regulators around the country issued emergency protection measures to extend grace periods for premium nonpayments, prohibit policy cancellations during states of emergency,...
In any industry, company leaders want team members to put their heads together to develop new ideas, new standards, and best practices. These efforts produce better outcomes and improve a company's health over time. When companies themselves can mirror this behavior with one another, entire...
It’s hard to imagine a time without insurance. Health, life, home, and auto protection have become staples of the average American’s life. Yet at the beginning of the country’s history, being uninsured was the norm — the term “insurance” wasn’t even in our lexicon until the early 1700s. Since...
Change is the only constant in life. Just last year, more than 30 states enacted cybersecurity-related legislation, according to the National Conference of State Legislatures . The ever-changing regulatory landscape makes staying up to date on compliance onerous for insurance companies, agents,...
The Interstate Insurance Compact has taken strong steps to consolidate compliance issues surrounding life, annuity, and other health products, but the overall compliance landscape continues to become more complex. A combination of outside increased scrutiny of corporate compliance...