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Future of Risk Webinar Banner
Future of Risk - Shifting Insurance to Predict & Prevent

ITL's Future of Risk series explores the transition from reactive to proactive risk management through Predict & Prevent, highlighting technology and resilience.

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A Turning Point for Offshore Wind
By
Adam Reed

The scale and scope of the global offshore wind rollout is epic but needs to be fast-tracked by financial institutions, corporates and governments.

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Hundreds of blue, pink, orange, and yellow dots in a spiral shape against a grey-ish blue background
Emerging Technologies That Streamline Claims
By
Vince Cole

The convergence of AI and human intelligence can streamline claims processing, detect fraud and rewrite the narrative of settlements.

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How to Plan for Armed Intruders
By
Eric Spacek

Mass shootings have people scared, and they want action. Here are four ways organizations can make their facilities more secure.

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Cyber Insurance at Inflection Point
By
Mario Vitale

What happens next will depend on how clearly underwriters, brokers and insurance buyers commit to building resilience.

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Neon yellow arrows pointing to the right against a dark and red lit up background
Continuous Improvement Comes to Insurance
By
Tom Bobrowski

Process intelligence tools let operations leaders “see” digital products being built, enabling use of statistical process control techniques.

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A large green computer chip against a black background
A Rush of Cyber Attacks in Australia
By
Delilah Schwartz

The attacks show how the nation is broadly unprepared -- but also how a series of tools could have prevented or at least mitigated the attacks. 

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A desktop computer with code on it and on top of a white desk with a keyboard and pens
Innovative In-House Legal Software
By
Evan Wong

Modern legal software can identify risks, categorize them based on severity and relevance and propose tailored mitigation strategies.

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A Secret Weapon Against Claims Inflation
By
Ben Zatlin

An active, efficient accident management program can save hundreds of dollars per claim and potentially cut days off a claim’s cycle time.

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Three people sitting at a table and one person standing, and they're all talking; there are papers and a laptop on the table and behind the people is a black wall with post-it notes covering it
Always Be Data Segmenting
By
Marty Ellingsworth

Firms must always be segmenting and improving experiences for personalized risk transfer, safety, prevention and loss management.

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A man in a suit holding a briefcase and an umbrella standing in the ocean under a cloudy sky
Learning From Failure
By
Michael de Waal

Learning from failure is hard for business leaders, but it is essential for success. So, go forth and fail fabulously!

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A Relentless Focus on Customer Care
By
Troy Stewart

While digitalization can create efficiencies and enhance processes, insurers must not get distracted. Customer care always comes first.

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5 Ways Generative AI Will Transform Claims
By
Jeff Gurtcheff

Generative AI will revolutionize how carriers, third-party administrators and medical management firms operate and the results they can deliver.

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Low-Code Tech Unlocks Capabilities for Consumers
By
Bill Schwaab

Low-code digital tools are simplifying customer experience management and providing consumers more self-service capabilities. 

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Insurtech Is at an Inflection Point
By
Tom Kussurelis

Insurtech funding has been dropping since 2021 and hit a 20-quarter low in 4Q22. Will it rebound, continue on a flat path or decline further?

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Reinsurers Are Pulling Back
By
John Smith

CAT events, combined with other economic factors, are making reinsurance either impossible or difficult to secure.

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Using GPS and AI to Improve Asset Tracking
By
Autumn Devine

Recent developments in tracking technology and AI provide a formidable solution for vehicle thefts and inefficiencies in fleet management. 

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Four people in a row sitting at a desk in front of laptops with headsets on
A Crisis in 911 Emergency Call Centers
By
Daniel Miller

Every day, thousands of people are put on hold, or calls are not even answered in some cities, due to the staff shortage in call centers.

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Why SMEs Must Have Cyber Insurance
By
Andrea Collins

A Cowbell survey found a shocking vulnerability to cyber attacks among small and medium-sized enterprises.

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A computer chip that says "AI" against a purple and blue background with interconnected white lines
AI and the Future of Independent Agents
By
Tim Rotondi

Independent agents must implement AI -- intelligently and carefully -- into their operations or risk being passed by those who do.

 

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An Interview with Taruja Deshmukh
Interview with Taruja Deshmukh
By
Insurance Thought Leadership

Paul Carroll, Editor-in-Chief of ITL, and Taruja Deshmukh, InsurTech Solutions Manager at Conner Strong & Buckelew, discuss strategies for advancing innovation and operational efficiency.

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Purple Brain
Nobody Is as Smart as Everybody
By
Paul Carroll

Agent and Brokers Commentary: September 2023

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Exploring the Dual Advantages of Surety Bonds
By
Joe Perschy

Some insurance professionals mistakenly think providing surety services is neither a competitive advantage nor necessary for their business.

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Blurry and angled photo showing a long hallway with blue, purple, and pink lights showing data sets on both sides
Using AI to Better Manage Closed Blocks
By
Prathap Gokul

Consolidators that are in the business of acquiring closed life insurance blocks often face challenges. Data and AI strategies offer a way out.

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    Cargo Theft: An Increasing Concern
    By
    Rahul Khanna

    In North America, the number of theft claims has increased for the past six years in a row, with a 20% increase year-on-year in 2022.

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    Cybersecurity Standards for Insureds Are a Must
    By
    Marko Polunic

    We need a set of universal, standardized cybersecurity requirements for insured organizations, adopted across the cyber insurance market.

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    Moving Beyond Data Lakes
    By
    William Steenbergen

    Federated data graph technology can help carriers overcome long-standing obstacles, harness their data and fully unlock the AI moment. 

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    Driving Growth Via Embedded Insurance
    By
    Chris Bassett

    What if we could influence the way that consumers perceived the value of risk mitigation and insurance for a personal asset?

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    Unlocking the Future of Long-Term Care
    By
    Larry Nisenson

    To safeguard elderly individuals from financial insecurity during their retirement, the insurance sector desperately needs to foster innovation.

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    Creating an Automation Strategy and Roadmap
    By
    ITL Partner: OZ Digital Consulting

    How insurers prioritize automation projects, aligning with their existing automation landscape.

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    insurance customer
    How AI technologies Are Turbocharging Insurance Distribution
    By
    ITL Partner: Vymo

    The evolving role of CRM systems, cloud-based tools, and the transformative impact of AI and ML will have a profound impact on insurance sales strategies and operations.

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    The Key to Transformation? It’s Not Technology
    By
    Brian Carey

    Insurers can overcome the many challenges of digital transformation by dropping their technology-first mindset and adopting a people-centric one. 

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    How Smart Homes Are Changing Insurance
    By
    Michael de Waal

    Insurers and homeowners are using IoT devices to optimize housing efficiency, streamline daily tasks and reduce urban household risks.

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    The MGA Market Boom
    By
    Mark Breading

    While MGAs continue to expand and add foundational channels, there is an interesting shift in their approach to insurtech.

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    What to Expect in Industry 4.0
    By
    Tim Hardcastle

    As Industry 4.0 shifts the world around us, it creates tremendous opportunity to shape insurtech solutions and the insurance industry.

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    It’s Data All the Way Down
    By
    Harry Huberty

    Practically anything an insurer would like to do ultimately comes down to effective data and analytics capabilities.

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    Solving the Talent Crisis in Insurance
    By
    Meredith Barnes-Cook

    The good news is that the talent challenges are within the industry’s power to address. It won’t happen overnight, but let’s get started.

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    Crucial Role of Geocoding in Insurance
    By
    Berkley Charlton

    Geocodes are available with varying degrees of precision. However, only true rooftop geocoding can maximize an insurer's investment. 

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    How to Address Agencies' Talent Shortage
    By
    Jessica Lee

    Despite representing a skilled, educated, untapped talent pool, neurodiverse candidates are largely underemployed.

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    Top 10 Challenges for Insurers
    By
    Abhishek Peter

    From emerging technologies to changing consumer expectations, insurers are facing a complex landscape that demands their attention.

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    A New Approach to Resource Management
    By
    Brian Nordyke
    Jonathan Schwartz

    A more disciplined strategic road map will help insurers avoid spending time and resources on projects that are lower-priority.

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    Navigating the Vast Sea of Threat Intelligence
    By
    Delilah Schwartz

    There is a way for companies to overcome the challenges and optimize the business value of their cyber threat intelligence investments.

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    Interview with Michel Leonard
    Quarterly Interview with Dr. Michel Leonard
    By
    Insurance Thought Leadership
    The Insurance Information Institute

    In our quarterly interview with Dr. Michel Leonard, the chief economist at the Insurance Information Institute provides insights into the factors behind the current inflation trends.

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    Checking Our Progress on Inclusivity
    By
    Betsy Myatt

    Recent data found only 19% of board seats and only 12% of top officer positions are held by women.

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    Rethinking Insurance With a Gen Z/Millennial Mindset
    By
    Denise Garth

    The ability of insurers to capture Millennials and Gen Z, let alone retain them, will be severely challenged unless they develop a new approach.

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    Digital Twins Are the Future
    By
    Prathap Gokul

    A digital twin lets executives rehearse the future by providing an AI-driven platform that allows for lifelike simulation.

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    How to Unleash the Power of Empathy
    By
    Andy Mickelson

    Focus on three key areas for success with customer experience: active listening, clear language and personalized experience.

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    Convergence and the Insurance Ecosystem
    By
    Stephen Applebaum
    Alan Demers

    Companies must anticipate the future, innovate beyond their core and transform their capabilities as rapidly as technology allows.

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    4 Principles of Sustainable Selling
    By
    Jeffrey Lipsius

    Sustainable business is higher-quality business. It’s achieved by getting clients to not just buy but to also “buy-in.”

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    The Opportunities in Smart Cities
    By
    Michael de Waal

    The integration of insurance solutions into smart cities is vital for creating a resilient and sustainable urban environment.

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    Causes of Home Insurance Crisis
    By
    Divya Sangameshwar

    Homeowners insurance providers are under extreme financial pressure, especially in certain parts of the country, so homeowners are, too.

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    Why Data Projects Don't Deliver
    By
    Tim Rourke

    Close observation of the market has revealed five of the biggest drivers of underperforming data science teams.

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    A Startlingly Simple Sales Tool
    By
    Paul Carroll

    Agent and Brokers Commentary: August 2023

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    Interview with Dan Swift
    An Interview with Dan Swift
    By
    Insurance Thought Leadership

    ITL Editor-in-Chief Paul Carroll engaged in a discussion with Dan Swift, CEO of Numentum, about strategies for enhancing the effectiveness of insurance agents and brokers.

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    5 Ways to Ensure Tech Delivers Value
    By
    Jamie Peers

    To ensure system integration and automation deliver on so many promises, there are five key steps insurers should take. 

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    Tackling the Surge in Cyber Premiums
    By
    Joseph Carson

    Cyber insurers are learning, but clients must also act: They must adopt an aggressive and comprehensive approach to cybersecurity.

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    How to Become Self-Sufficient on Tech
    By
    Ben Shory

    Many insurers have come to rely too much on third-party IT vendors. Here is a list of tools and services that allow for self-sufficiency. 

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    Inflation Hits Home (Insurance)
    By
    Cat Reese

    Here's how insurers can adjust premiums to keep pace with inflation and ensure appropriate coverage while building customer relationships.   

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    Operational Efficiencies in Lead Allocation For Agents
    By
    ITL Partner: Vymo

    ML-based lead allocation revolutionizes insurance lead distribution, ensuring optimal matches for agents and boosting conversion rates.

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    Mastering the Fourth Industrial Revolution
    By
    Chunka Mui

    We are sitting at the inflection point of the Fourth Industrial Revolution, the biggest personal and professional opportunity of our lives.

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    The Key for Agents: Lifelong Learning
    By
    Jeff Chidester

    Here are seven principles for a disciplined, strategic approach to gaining all the benefits that come from lifelong learning. 

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    The Software Development Dilemma
    By
    Jose San Miguel

    Business owners all have strategic needs for software. But should you build it, or should you buy it?

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    The Sad Truth About Insurance Technology
    By
    Rory Yates

    Why, after spending hundreds of billions of dollars on new technology, can't insurers adapt to the demands being placed on them?

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    How a 'Digital Adoption Platform' Drives Value
    By
    Khadim Batti

    Automated, in-app support can help underwriters, adjusters, agents and service representatives learn to use their software more effectively.

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    What if ‘Parametric Insurance’ Meant More?
    By
    Bertrand Robert

    Parametric insurance currently benefits from its radically simpler user experience, but the opportunities are far broader.

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    Claims Leaders Face a Paradox
    By
    Raymond Mazzotta
    Richard Vonesh

    They need to challenge their assumptions and expectations, redefine business optimization and draw up a new map.

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    Lemonade's 'Synthetic Agent' Nonsense
    By
    Matteo Carbone

    Desperate for growth, Lemonade produces another howler: A lender receiving a 16% interest rate is presented as a (synthetic) agent.

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    How Millennials Revolutionized Life Insurance
    By
    Shawn Meaike

    Millennials are revolutionizing the life insurance industry from the inside out, imposing their reach and influence on every aspect.

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    How to Tackle Litigation Costs
    By
    Mubbin Rabbani

    Social inflation, fueled by third -party litigation funding, added more than $20 billion to commercial auto claims in the 2010s.

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    'Digital Twins': The Race Is On
    By
    Roger Arnemann

    The concept is widely adopted in manufacturing and supply chain. Insurers that integrate digital twins will significantly out-compete rivals.

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    The Family Income Policy
    By
    ITL Partner: International Insurance Society

    US leads in life insurance, but implementing Europe's mandatory risk component could boost growth.

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    Top Professional Indemnity Trends
    By
    Diego Assef

    Evolving legislation related to building safety and cyber crime, social engineering and data loss are both ranked #1 by Allianz.

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    Insurance in 2030: What Does the Future Hold?
    By
    Marie Carr

    In an increasingly fractured world, insurers have to cover a greater array and frequency of intensifying risks.

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    How to Guide Affluent Clients
    By
    Forrest Broyles

    Here are four best practices to help wealthy clients understand their insurance issues and avoid claims losses.

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    How to Prepare for Extreme Weather
    By
    Mabé Villar Vega

    Developing a well-defined preparedness plan is crucial to mitigate damage from hurricanes and other extreme weather events.

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    How to Prepare for Hurricanes
    By
    Darren Wood

    Here are six steps consumers can take to safeguard against the dangers and financial impacts of hurricanes.

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    Auto Insurance in an Existential Crisis
    By
    Stephen Applebaum
    Alan Demers

    The 125-year-old, $300 billion U.S. auto insurance industry is caught between runaway inflation and strained consumer wallets.

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    The Next Phase of Growth for Insurance Brokers
    By
    ITL Partner: Oliver Wyman

    Value creation through tighter integration

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    Top 10 P&C Insurance Technology Trends
    By
    Abhishek Peter

    These technology trends will reshape the way insurance companies operate, interact with customers and mitigate risks.

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    Leadership Lessons From Sports
    By
    Michael de Waal

    By examining the dynamics of teamwork, strategy, perseverance and personal growth in sports, we can shed light on leadership principles.

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    Adding Humanity to Life Insurance
    By
    Chuck Johnston

    Carriers do not intend to upset life insurance beneficiaries, but the rigidity of processes often frustrates policyholders:

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    Agency/Broker Consolidation
    By
    Heather Turner

    Rapid technological advancements, changing customer expectations and economic headwinds are reshaping distribution in insurance.

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    Now’s the Time to Offer Instant Payments
    By
    PJ Gupta

    To meet the expectations of tech-first consumers, insurance companies must prioritize and invest in an instant, seamless payout experience.

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    How to Value AI, Analytics Initiatives
    By
    Gaurav Porwal

    Here are five models that can be used to ensure that the value of AI and data analytics work is recognized and valued appropriately.

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    Time to Raise Your Embedded Insurance Game
    By
    Brandon Smith

    Executives are practically salivating when considering their share of the $70 billion U.S. embedded insurance opportunity.

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    Liability Lurks in Obesity Epidemic
    By
    David Geller

    A wave of drugs is being prescribed for obesity but may lead to the same sorts of huge liabilities that e-cigarettes have. 

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    How to Find the Right Business Partner
    By
    Eva Goldstein
    Denise Olivares

    Ten considerations can be the key to minimizing risks and maximizing the potential for a successful, game-changing collaboration.

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    Slaying Your Data Dragons

    Watch data experts and an industry veteran tackle data integration challenges, avoid common pitfalls, and master overwhelming data influx.

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    A piece of paper on a brown desk showing a multitude of different charts and graphs with a magnifying glass on top of the paper along with a green and a blue colored pencil
    Caution on States' Credit Quality
    By
    Karel Citroen

    Conning recently set a “declining” 2023 outlook on state credit quality, a change from the “stable” outlook it has had since 2021.

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    Go Niche and Grow Big
    By
    Chris Schrenk

    Emerging microsegments can be lucrative opportunities for insurers. But targeting them requires fast and accurate technology to assess the risks,

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    Independent Agencies' Guide to Rebranding
    By
    Doug Coombs

    70% of purchase decisions are based on emotion, so branding that consumers like and relate to can be a revenue generator.

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    Bringing Innovation From Australia to U.S.
    By
    Greg Oslan

    Severe environmental threats, together with Australia’s regulatory landscape, have catalyzed insurers to adopt new technology quickly.

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    Three people standing all huddled around and looking at a tablet
    The Power of Lifecycle Marketing
    By
    Michael Meyer

    With an integrated, data-driven approach, companies can optimize their strategies based on customers' needs at all lifecycle stages.

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    Blonde woman looking at the camera with red lines across her face
    Using Facial Analytics in Underwriting
    By
    Karl Ricanek

    Life and health insurance can improve the underwriting experience using AI-driven facial analytics … and a simple selfie photo.

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      A Woman with Green Hair Looking at the Camera with a dark background and white code text across her face
      How AI Is Shaking Up Insurance
      By
      Michael Giusti

      “I think you are going to start to see CEOs who are hired for their ability to use AI in the very near future."

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      Operational Efficiency
      July ITL Focus: Operational Efficiency
      By
      Insurance Thought Leadership

      ITL FOCUS is a monthly initiative featuring topics related to innovation in risk management and insurance.

      This month's focus is Operational Efficiency

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      A Laptop Near Documents and Post it Paper on a White Table
      Life Insurance Brokers Need Better Tech
      By
      Brian Carey

      If brokers are going to continue to provide exceptional customer service, they need the technology and resources that can back them up.

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      Why AI Is a Game Changer
      By
      Julio Pernía Aznar

      Investments in AI are expected to save auto, property, life and health insurers almost $1.3 billion in 2023, up from $300 million in 2019. 

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      6 Steps for Cultivating a Data Culture
      By
      Abhishek Sharma

      Companies can empower their employees to make data-driven decisions and ultimately drive better business outcome.

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      Stack of binders full of stacks of papers
      Streamlining Medical Record Reviews Via AI
      By
      Connor Atchison

      Paperwork is hardly glamorous, but AI’s superhuman ability to sift through pages could well and truly change the game in claims.

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      Woman in White and Black Top Using Computer in a room with other people on their laptops
      5 Ways to Motivate Remote Workers
      By
      Andy Roberts

      Here are five ways employers can better manage remote workers--and commonly used time-tracking software isn't one of them.

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      A Cautionary Lesson on ESG Ratings
      By
      Punil Chaubal

      Based on ESG ratings in isolation, Silicon Valley Bank appeared to be a sound choice of a more sustainable investment. It wasn't.

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      Two people in front of a computer with one person holding a black pen and pointing to a sheet of papers
      9 Keys for Embedded Insurance
      By
      Adrian Jones

      Embedded insurance, partner distribution or B2B2C distribution can be highly effective. But it's not easy to get right. 

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      Hail Balls After Heavy Rain Lying on Ice
      How to Prepare for Hail Season
      By
      Chris Howell

      6.2 million properties in the U.S. experienced one or more damaging hail events in 2020, making these warm months a very busy time. 

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      Six people in suits walking in a line and holding coffee as they go back to work
      Attorney Involvement Keeps Claims Soaring
      By
      Mubbin Rabbani

      For workers’ comp claims with attorney involvement, average indemnity costs are $77,807, 390% higher than for unrepresented claims.

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      Bionic Hand and Human Hand Finger Pointing at each other
      Why Brokers Should Embrace AI
      By
      Sivan Iram

      AI lets brokers focus on higher-value tasks, provide better service and build more business than they ever thought imaginable.

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      Why Becoming Data-Driven Is Crucial
      By
      Abhishek Sharma

      The problem is: Organizations are collecting more and more data from consumers, but the processing and harnessing of this data stays limited.

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      Growing Risks From Quantum Computing
      By
      Craig Debban

      Many firms have started considering what risks quantum computing will create for them, but one area is often overlooked: the supply chain.

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      Close-up of hands typing on a computer with neon green words on the screen
      Combating Healthcare Insurance Fraud
      By
      Bala Kumar

      Just as financial firms' Know Your Customer (KYC) processes prevent crime, Know Your Patient (KYP) methods can prevent insurance fraud. 

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      Gray robot head with wiring exposed in the back of its head against a gray city-like background with
      AI and the Future of Insurance
      By
      Siddhartha Jha

      With scrupulous implementation and judicious oversight, AI can supercharge the industry and provide better services to customers.

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      Grayscale Photo of Shooting Target Stand
      Could Insurance Reduce Gun Violence?
      By
      Divya Sangameshwar

      75% of Americans say gun owners should have to carry liability insurance, which could encourage more care on handling and storage.

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      A lit-up lightbulb hanging from the ceiling against a black background
      How Organizations Become Innovative
      By
      Ruben Ugarte

      While organizations talk about transformation, the most effective innovation will come from small changes that compound over time.

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      Road In Between Grass Field Under Grey Sky
      Few Homeowners Prepare for Weather Risks
      By
      The Insurance Information Institute

      Many homeowners lack even the most basic preventative measures, unaware of the risks they face, according to a new survey by Triple-I.

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      Low angle image of tall glass office buildings against a bright and cloudy sky
      Accelerating Product Innovation
      By
      Faheem Shakeel

      Customers want to be onboarded not in days but in minutes. They are no longer willing to wait for weeks and months to settle claims.

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      Hand pointing at the screen against a blue background with white hexagons on the screen with logos of companies
      IoT Can Turn the Tide on Flood Risk
      By
      Jonathan Jackson

      With flood threats increasing, insurers are shifting away from simply restoration and recovery to prevention and mitigation pre-event.

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      a hand holding an iphone with apps up on the screen
      Lessons Learned on Insurance Apps
      By
      Peter Zaidel

      Carefully monitoring customer emotion shifts will enable smart communicators to respond with messages, promotions and surveys.

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      Time-lapse Photography of Silver Car Passed by on Road
      The ADAS Revolution in Auto Repair
      By
      Kyle Krumlauf

      The ubiquity of Advanced Driver Assist Systems (ADAS) is forcing major changes on collision repair facilities -- and they're just beginning.

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      Grayscale Photo of Man and Woman Sitting In front of Table with other people
      Why Every Insurer Needs a Modern CRM
      By
      Faheem Shakeel

      Modern CRM solutions act as a dashboard for all customer-related interactions across different channels such as digital marketing and social networks.

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      Crop cyber spy hacking system while typing on laptop
      Gain the Upper Hand on Cybercrime
      By
      Delilah Schwartz

      If measured as a country, the underground cybercriminal economy would be the third largest in the world after the U.S. and China.

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      A clear mannequin against a dark blue background with light emanating from the top
      AI: The Future of Group Insurance
      By
      Michael de Waal

      74% of insurance executives plan to increase investments in AI. Insurers that seize this opportunity early will have a critical advantage. 

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      A group of people standing in front of a screen in a building with glass windows and sunlight coming through
      The Changing of the Guard
      By
      Michael Morrissey

      Baby Boomers are aging out of insurance company board seats. Specialized training can help bring newcomers up to speed.

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      Young woman using laptop at vintage cafe
      For Those Who Care About CX
      By
      Amy Radin

      Here are seven proven practices for change makers who have taken on the hard and harder tasks of transforming the customer experience. 

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      Wooden puzzle pieces scattered across a table
      Solving the Puzzle on Inclusion
      By
      Michele Lamarre

      The keys to progress on DEI are becoming clearer. It hinges on workplace experience, company culture and a consistent approach.

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      A dark blue background with light blue pop-up windows showing texts between a human and a bot
      Transformation of Jobs in the AI Era
      By
      Brian Sathianathan

      While concerns about job displacement have become prevalent, AI has the potential to enhance job roles rather than replace them.

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      Overhead view of a laptop with a web browser up alongside a phone and cup of coffee
      An Effective Web Portal Is Key
      By
      Roman Davydov

      With competition so fierce, insurers need to find ways to stand out. Moving beyond a website to a web portal makes a big difference. 

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      A close-up image of a person's hands holding a black phone
      A New Frontier in ID Verification
      By
      Colum Lyons

      The industry has been hamstrung by outdated identity verification practices, which can now be streamlined through cutting-edge AI.

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      A blue brain with neurons surrounding it and blue energy balls against a black background
      AI Ethics in Product Development
      By
      Susan Peich

      Product teams can maximize the potential of AI and enhance the effectiveness of their products by adhering to ethical AI principles.

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      Close-Up Photography of White Chevrolet Camaro with the background blurred
      That Car Is Worth WHAT?
      By
      Marty Ellingsworth

      The pandemic has made prices of used vehicles and parts more volatile, and generally much higher, but insurers have yet to adapt their models. 

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      A large cargo boat on a body of water with shipping containers loaded on it
      Emerging Risks for Shipping Industry
      By
      Rahul Khanna

      Shipping losses are the lowest in 12 years, thanks to safety programs, training, new ship design and regulation. That's the good news.

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      Six people sitting around a table talking and taking notes
      We Must Be Diverse by Design
      By
      Jess Keeney

      We crave diversity because we know it serves all people with speed, intelligence and transparency and delivers better business outcomes.

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      Why Innovation Fails (and How You Can Succeed)
      By
      ITL Partner: OZ Digital Consulting

      Three Keys to Innovation Success

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      IOT
      June ITL Focus: IoT
      By
      Insurance Thought Leadership

      ITL FOCUS is a monthly initiative featuring topics related to innovation in risk management and insurance.

      This month's focus is Internet of Things

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      Woman wearing a headset for virtual reality looking at a virtual image
      10 Ways Metaverse Will Revolutionize Insurance
      By
      Abhishek Peter

      The metaverse is a fascinating concept that has the potential to revolutionize the way we interact with digital content and each other.

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      Laptop on a white counter with yellow flowers in a glass next to it and a blue glass
      Insurtech Startups Are Doing It Again!
      By
      Matteo Carbone

      The recent $4.5 billion valuation of Wefox makes no sense. It shows that investors haven't yet learned the lessons of Lemonade, Hippo and Root.

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      Person holding a smart phone up to register to conduct a mobile payment
      Changing Expectations on Mobile Payments
      By
      Julie Schieni

      41% of millennials with insurance purchased it with their mobile device, and other generations are moving in that direction, too.

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      A chess board with the king pieces in the middle
      Gamification Comes to Life (Insurance)
      By
      Nigel Hazell

      Finance games have been shown to greatly help with life insurance sales -- and digital, large-scale versions are becoming available.

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      Man at a desk with a computer open and typing on a keyboard with a green mug of coffee in front of him
      Specialty Markets Must Digitize
      By
      Cam Serigne

      Specialty markets have fallen behind the pack on innovation, and many markets are threatened. But they don't have to be.

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      A doctor in green scrubs touching a patient's back while she shows him where the spot hurts
      Mitigating Chronic Pain in Workers’ Comp
      By
      Annu Navani

      Five key practices for a patient-centered approach are most effective in mitigating potential chronic pain issues in workers’ compensation.

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      Skyscrapers against a dark blue sky with a cyber circle in the background
      'Intelligent Ingestion': Time to Truly Go Digital
      By
      Michael Reilly

      The industry kids itself about having gone paperless. In fact, we still use the same processes we used in the 17th century. It's time for a change.

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      Blue tinted view of tall glass office buildings
      Commercial Insurance’s Digital Revolution
      By
      Patrick Foy

      In commercial insurance, customers and providers can look forward to an improved experience as the market shifts toward online channels.

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      Man in green scrubs wearing a watch and crossing his arms also with a stethoscope around his neck
      The Flaws in Employer-Sponsored Health Insurance
      By
      Eric Calciano

      More employers are shifting toward custom health plan solutions to reduce costs while improving benefits for employees.

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      A person in a blue suit with a striped tie pointing at the screen with white digital circles interconnected
      Why Automation Is So Important
      By
      Allister Yu

      Agencies, brokers and carriers spend an inordinate amount of time and money on back-end processes that detract from core objectives.

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      Blue photo showing cyber with binary code
      Steps to Mitigate Cyber Risk
      By
      Lewis Guignard
      Yoshifumi Yamamoto

      Insurers' traditional methods--enforcing limits on coverage and capacity, raising premiums and seeking reinsurance--are no longer adequate.

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      Interview Banner
      What Now for Inflation?
      By
      Insurance Thought Leadership
      The Insurance Information Institute

      In our quarterly interview with Michel Leonard, the chief economist at the Insurance Information Institute, he explains what's driving inflation. 

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      Water with ripples dark and showing a reflection
      U.S. Is Ready for Parametric Flood Insurance
      By
      Mark Hara

      The insurance and wider markets have created the perfect conditions for parametric insurance to grow.

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      A view of tall buildings from across the water while the sun is setting
      A New Approach to Property Resilience
      By
      Erin Ashley

      Despite the up-front costs, resilience must now be part of the entire property lifecycle -- from acquisition, to operations, to liquidation.

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      Life Insurance Digitalized
      Life Insurance Digitalized
      By
      Equisoft

      Read the report to find out how life insurers are currently optimizing customer experience (CX) and client engagement throughout the policy lifecycle.

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      White artificial intelligence robot touching a projected blue screen
      How AI-Powered Contact Centers Elevate CX
      By
      Bhavana Rana

      AI is letting insurers simplify the customer journey, removing friction points and driving customer loyalty.

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      An analog clock set to seven o'clock against a half pink and half blue background
      Managing to the Minute
      By
      Tom Bobrowski

      Fittingly, this may be the shortest column in the history of ITL.

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      Cyber brain showing innerworkings on a black background
      3 Key Uses for Generative AI
      By
      Tom Chamberlain

      Generative AI, such as ChatGPT, could transform insurers' underwriter workflow, claims processing and fraud detection. 

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      Blue, yellow, and pink pieces of paper swirled
      Core Systems Are More Critical Than Ever
      By
      Tom Benton

      Research suggests that upgrades of policy, billing and claims systems are not slowing down. 

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      Overhead view of a neighborhood cul-de-sac
      It's Time to Talk to Homeowners
      By
      Michael Giusti

      Incentives for green home improvements create a need for insurers to educate clients on nuances and open up opportunities for conversations.

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      A group of people standing around tablets at an office table while talking and drinking coffee in mugs
      Your Culture Must Engage Your Customers
      By
      Denise Garth

      Insurers now wear their culture on their sleeves. They show whether they care about their customers by the ease of the customer journey.

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      Below view of a plane with a trail against a blue sky with wispy clouds
      The Journey to Sustainable Aviation
      By
      Tom Fadden

      Airlines are experimenting with a host of sustainable fuels, electric aircraft, hybrid electric/fuel planes and new operating techniques.

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      An Interview with  Adam Chadroff
      An Interview with Adam Chadroff
      By
      Insurance Thought Leadership

      ITL Editor-in-Chief Paul Carroll sat down with Adam Chadroff, Investor at Equal Ventures, to discuss the future of insurance distribution. 

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      The Same, but Different
      By
      Paul Carroll

      Agent and Brokers Commentary: May 2023

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      A white dandelion in the foreground with green plants in the background
      How to Choose a Fertility Vendor
      By
      Brian Klepper

      97% of employers offering infertility coverage say that it adds little to medical plan costs and that many employees prize it.

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      White navy boat on on the water
      5 Things the Navy Seals Taught Me
      By
      Michael de Waal

      A "light" boot camp provided a small insight into what our servicemen and women go through -- and the importance of teamwork in business.

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      person holding a high-tech tablet with a projected screen
      Say Goodbye to Cyber's 'Dating Profile'
      By
      Andrew Correll

      It's time to move past vague questions that try to determine companies' resilience to cyber attacks and move to precise, data-based ratings.

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      low-angle image of a tall glass building under a blue and cloudy sky
      Insurers' Investment Risks for 2023
      By
      Matthew Reilly
      Lauren Forando

      Insurers planned to increase their risk tolerance, but a volatile economy has them focused on operational issues and the risks they already have. 

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      Four people around a desk with laptops open and a bulletin board hanging
      Insurance Is Not a Commodity
      By
      Tim Rotondi

      But, with carriers running so many ads focused on price, agents need to work hard to get consumers to focus on the differences between policies.

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      Close-up image of a person typing on a keyboard with bright green words on a black screen
      Future Is Here for Fraud Detection
      By
      Ivan Heard

      The future of fraud is here, but so is the future of fraud protection. Decision intelligence saves thousands of hours of manually searching through risk anomalies.

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      A close-up image of an artificial intelligence eye that's blue
      6 Words to Focus Your AI Innovation Strategy
      By
      Chunka Mui

      Is it time for insurers to go big on ChatGPT? The short answer is no. The right approach is: Think Big, Start Small and Learn Fast.

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      House
      From Startup to Market Leader – The Journey of PURE Insurance
      By
      ITL Partner: OneShield

      PURE Insurance and OneShield share strategies for future-proofing insurance technology in their eBook resulting from a 17-year partnership. From Startup to Market Leader offers guidance for insurance startups and carriers seeking growth and transformation.

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      Pink background with two text boxes from a person and from an AI bot
      How My View of ChatGPT Changed
      By
      Mark Breading

      The tone of articles about ChatGPT has rapidly shifted from "amazing but not always accurate or high-quality" to "this is significant progress."

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      Side profile of a woman against a blue backdrop with binary code lit up across her face
      Overcoming the Challenges Posed by AI
      By
      Chaz Perera

      With the competition to create the most knowledgeable AI systems, creators are getting to the point where they can’t explain how a decision was made.

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      Tall glass window buildings against a blue sky
      The Keys to Automating Pricing
      By
      Neil Chapman
      Serhat Guven

      For all the undoubted benefits of automating insurance pricing, experience shows that successful isn't just about throwing technology at a problem. 

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      Low Angle View of Spiral Staircase Against Black Background
      Future-proofing Insurers Into 2030
      By
      Patrick Nobbs

      Now is the time for traditional insurers to overcome their risk-averse legacy practices and scale up the industry’s gallery of startup solutions.

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      Customer Experience
      May ITL Focus: Customer Experience
      By
      Insurance Thought Leadership

      ITL FOCUS is a monthly initiative featuring topics related to innovation in risk management and insurance.

      This month's focus is Customer Experience

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      Overhead view of four people at a brown desk with laptops and charts in front of them
      What's Driving Social Inflation?
      By
      Heather Wilson

      Changes in the litigation environment, shifting public opinion, medical inflation and emerging risks are producing lots of so-called nuclear verdicts.

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      Outer space view of Earth partially lit up and with lines across the globe indicating connectedness
      From Ben Franklin to Artificial Intelligence
      By
      Ajay Kumar

      Sixty $1 billion natural disasters hit the U.S. in the last three years, already nearly half the total in the entire previous decade. Something has to give.

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      Icebergs in the ocean under a blue sky
      The Race Against Natural Disasters
      By
      Amrit Santhirasenan

      Because of technological advancements, we’ve never been better prepared to understand what could happen tomorrow. 

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      Overhead view of people at a work table with papers with charts in front of them
      How AI Speeds Workers’ Recoveries
      By
      Mark Walls

      AI reduces human error, increases speed of care and decreases the time a physician needs to spend with injured workers. 

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      Chess Pieces on Laptop
      Game-Changing Strategic Priorities Redefining Market Leaders
      By
      ITL Partner: Majesco

      Majesco’s new research delivers a roadmap for leaders to better understand, invest and act on new ways to stay competitive, relevant and grow their business for the future.

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      Reinventing Insurance with AI
      Reinventing Insurance with Generative AI
      By
      ITL Partner: Oliver Wyman

      Opportunities and new efficiencies for insurers

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      Fund The Future
      Fund the Future
      By
      ITL Partner: Oliver Wyman

      Drive smart cost decisions and win in uncertain times

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      Blue circuit board with an artificial intelligence head overlaid on top
      AI's Role in Commercial Underwriting
      By
      Joel Lagan

      Automation allows commercial underwriters to focus on more complex risks, while leaving routine applications to be handled by machines.

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      Woman in a white long sleeve shirt with a headset on looking at a computer
      Strategies for Independent Agents
      By
      Jerry Thacker

      Strategic targeting of commercial sectors with consistent hit ratios can lead to more efficient prospecting and, ultimately, higher conversion rates.

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      Overhead view of a three lane highway with cars driving on a sunny day
      Power to the People
      By
      Tom Bobrowski

      Operational intelligence uses AI to create measurable insights into how work is being done and allows for new ways to work and get paid.

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      Blue overlay on top of an image of a street with cars and buildings
      Insurers Boosting Their Use of AI
      By
      Jeff DeVerter

      62% of insurers say AI/ML has already resulted in a reduction in headcount. 81% cited AI as their leading strategic IT priority.

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      Dark blue background with light blue squares and white circles across it
      The Need to Improve Data Maturity
      By
      Martin Higgins

      Over half of all property/casualty insurers are replacing or conducting major enhancements to their data environments and associated capabilities.

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      A person wearing a grey long sleeve sweater shaking hands with an AI hand emerging from the screen of a laptop
      How AI Regulation Is Taking Shape
      By
      Evan Daniels

      Two key questions for insurers: Do guardrails exist around your AI tools, and can you defend those guardrails through testing and documentation?

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      Six light bulbs of various sizes hanging from a ceiling and lit up
      Insurers Aren't Innovative? Think Again!
      By
      Matteo Carbone

      But you first have to give up on "insurance ignorance" -- the idea that the best way to disrupt the industry is to start by knowing nothing.

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      Five women sitting at a white desk in an office talking with computers in front of them
      The Many Facets of DEI
      By
      Dr. Nika White

      DEI encourages us to understand and feel empathy for the experiences of others. When we do this, attitudes and behaviors change.

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      A blue car on a road at night with lights on while it's raining
      Deteriorating State of Car Insurance
      By
      Daniel Robinson

      There are accusations of insurers pressuring repair facilities to use generic parts or cut corners to save on costs.

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      Six people around a desk with a bulletin board in the back. Two people are shaking hands across the table
      3 Key Design Principles for Insurtech
      By
      Kelly Byrom

      Efficiency results not just from features and functions but also from how users experience the technology. 

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      A man leaning on a windowsill in front of a large window while looking at his phone
      APIs: The Key to Insurance Ecosystems
      By
      Julie Cape

      Application programming interfaces offer health insurance brokers an efficient and modern way to manage data and processes.

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      A woman with headphones on talking to a doctor wearing a mask via laptop
      Telehealth in Work Comp Is Here to Stay
      By
      Mark Walls

      Workers’ compensation navigated the unprecedented waters of a global pandemic and, in response, the onslaught of telehealth.

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      Six hands over a desk stacked on top of one another
      The Next Generation of Talent
      By
      Phil Yob

      With those born at the peak of the Baby Boom having reached 65 years old, here are five ways to attract the next generation of agents and brokers. 

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      A person's hand holding a glass of red wine in a dark room with some lights
      Unlike Fine Wine, Claims Don’t Age Well
      By
      Bill Brower

      The length of time it takes to settle an auto claim is key to customer satisfaction --  one of many reasons touchless claims are finding a stronghold.

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      Two men sitting on front door steps side by side with a black laptop
      Digital Underwriting Now a No-Brainer
      By
      Denise Garth

      New technology tools make it possible to generate deep insights through rich collaboration. 

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      Person at a desk with a laptop open and plants and books on the desk
      Agencies, Carriers Diverge on Priorities
      By
      Mark Breading

      Carriers must invest in digital capabilities to support distributors and improve customer experience, increase efficiencies, and grow business. 

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      Man with scrubs and a scrub cap on sitting at a desk with a computer open in front of him
      3 New Trends in Life and Health
      By
      Jaqui Wassenaar
      Daniel Lyons

      They are: ecosystem partnerships, the convergence of group and individual offerings and emergence of new opportunities for critical illness cover.

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      Overhead view of a freeway with several cars driving on it
      Auto Insurers Need Aggressive Defense
      By
      Nick Frank
      Michael Nadel

      This is the time to use precision marketing techniques to protect market share and uncover untapped avenues of growth.

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      A person sitting at an office desk using hand gestures while talking to someone
      Benefits Are Ripe for a Tech Upgrade
      By
      Gary Davis

      Nearly half of adults with employer-sponsored insurance report being frustrated because their benefits are hard to understand. 

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      A person holding a tablet with holographic blue hexagons coming out of it
      Tips for Improving Customer Experience
      By
      Matt Swain

      Only 11% of policyholders think their insurer is among the best in providing a good experience when compared with other companies they do business with.

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      A woman smiling while wearing a brown top and a head scarf standing in front of a window with a black headset on
      Don't Settle for Being a Trusted Adviser
      By
      Jeffrey Lipsius

      You're better offer being a decision coach, helping clients make better choices themselves rather than following a plan you, the adviser, lays out. 

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      An image showing Earth from outer space with connected lines across the top showing blockchain
      Can Blockchain Transform Insurance?
      By
      Faheem Shakeel

      Insurers are looking to harness the power of blockchain to infuse processes with the three T's: trustworthiness, transparency and tamper-resistance.

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      Time lapse photo of a freeway at dusk with red and white lights
      Video Telematics Transforms Road Safety
      By
      Richard Kent

      Rather than waiting for legislative change, fleet operators can seize AI-enabled technology now – and start improving work-related road safety today.

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      A woman sitting at her desk on the phone while holding another phone and in front of a desktop computer
      What If You Have Limited Resources?
      By
      Brian Carey

      Many small carriers and fraternals have limited or outsourced IT resources, but they still can undergo a digital transformation -- and must.

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      A man sitting at a desk typing on a Mac desktop computer
      Digitization and Enablement of Agents
      By
      Adam Chadroff

      Disintermediation didn't happen. Agents won. Still, agents who fail to adapt will have their lunch eaten by agents who do.

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      Half-closed laptop with a bright and colorful screen against a dark background
      Digital Underwriting Is the Future of Surety
      By
      Chris Kolger

      Despite the insurtech movement, the surety bond industry has been largely ignored when it comes to technology. No longer.

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      Overhead view of a baseball stadium at night with lights on
      Beyond Moneyball
      By
      Tom Bobrowski

      Observational process intelligence helps insurers find new ways to win.

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      Man and woman standing on either side of a yellow and red ambulance outdoors
      Latest Data on Fatal Occupational Injuries
      By
      Mark Walls

      The fatal work injury rate increased to 3.6 per 100,000 full-time equivalent workers for 2021 in the U.S., the highest annual rate since 2016.

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      Outline of a brain in connected lines to represent artificial intelligence on a blue background
      Leveraging AI to Upskill Employees
      By
      Stan Smith

      Many insurers are turning to AI technology to supplement their current employee education and institutional knowledge management strategies.  

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      sky view of a tornado under a sunny sky
      How Tech Can Drive Climate Insurance
      By
      Siddhartha Jha

      Technology-driven climate insurance can address the gap between the risks homeowners face and the coverage insurers can provide.

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      A group of mid-20s people sitting around a desk talking and with laptops open
      How to Build Underwriting Talent
      By
      Jody Tracey

      Here is a three-step plan to bring together the generations, with all their inherent capabilities, to increase capacity and capabilities in underwriting.

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      Landscape
      Property Preparedness: Bracing for the Future of Commercial Insurance
      By
      ITL Partner: OneShield

      Watch OneShield's panel of industry experts for a dynamic discussion of ways to enhance your advisory role, reduce risk in your portfolio and address inflationary economic conditions with a greater understanding of the commercial properties you insure.

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      Dark storm clouds in a dark sky
      Preparing for Storm Season
      By
      Troy Stewart

      The problem arises when post-catastrophe analyses are reviewed, adjusted and documented, only to be tucked away without any changes being implemented.

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      A man and a woman smiling at each other while sitting in a home at a table with a laptop in front of them
      3 Steps to Better Onboarding Customers
      By
      Susheel John

      Intelligent Document Processing can record information from every channel and standardize it seamlessly, creating a much-needed layer of centralization.

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      Close-up view of an artificial intelligence blue eye
      Streamlining Healthcare Claims
      By
      Clarissa Riggins

      AI has the potential to revolutionize the claims process by reducing costs, increasing efficiency and improving accuracy.

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      Red car on a road with a background of trees blurred
      Driving Change With Realistic KPIs
      By
      Michelle Buswell

      Before any operation can set realistic KPIs that resonate with employees and customers, there are three safety checks that position it for success. 

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      A man smiling wearing a headset sitting at a desk and looking at a computer
      The Value of Independent Agents
      By
      Dustin Lemick

      Savvy insurtechs are recognizing that agents and brokers are a dynamic part of the market ecosystem--but there's still considerable room to improve.

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      Finger touching Earth
      Embedded Artificial Intelligence (AI) in Financial Services
      By
      ITL Partner: International Insurance Society

      Generative AI third wave tools portend to expand creativity and eventually, to enhance predictive modelling. The implications of this paradigm shift on financial services, moving from a algorithmic to a data driven approach, have the potential to turbocharge service providers’ ability to provide trusted advice and planning on the full range of financial services.

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      White architectural structure with white triangles and a black border
      Reframing Embedded Insurance
      By
      Chris Bassett

      Exceptional product designers harness emotions that serve as the basis for purchase decisions. What if insurance specialists were included in this process?

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      overhead view of a road in the middle of a forest
      Transformation Is Now an Imperative
      By
      Rory Yates

      The insurance industry is at a crossroads, and ecosystem enablement and new business models are no longer a choice but an imperative.

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      Brown Wooden Dock Surrounded With Green Grass Near Mountain Under White Clouds and Blue Sky
      The Opportunities in ESG
      By
      Sarah Williams

      Insurers will be relied on to help clients identify and alleviate risks, particularly those caused by climate, and other environmental and social factors.

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      A laptop against a grey background with a projected screen
      Solving the Data Governance Nightmare
      By
      Karthik Krishnan

      AI-based data governance solutions let financial firms benefit from powerful deep learning technology that improves data access and activity governance.

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      Man sitting at a table with his smartphone in one hand and a credit card in the other hand
      Enhancing Claims Via Digital Payouts
      By
      Robert Clayton

      In today’s digital-first economy, insurers need to innovate their payout processes to offer their customers speed, convenience and flexibility.

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      Text that reads Insurance Information Institute with a logo that shows three i's on a blue background
      Group Captives: An Opportunity to Lower the Cost of Risk
      By
      The Insurance Information Institute

      Participation in a group captive can help companies save on insurance costs and provide access to extensive risk management resources, including industry-specific expertise.

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      Close-up of a person at a laptop and notebook on the desk
      How to Prevent Agent Gaming
      By
      James Tesdall

      Despite the severity of the problem, agent gaming has been difficult to detect and mitigate. Fortunately, insurers have new technology that can help them.

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      black background with blue lights and connected circles
      The Key to Collaborating With TPAs
      By
      Dan Rufenacht

      The combination of natural language processing and predictive analytics offers game-changing capabilities with respect to claims management.

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      blue and green hexagons that are connected across a white background
      Is My Organization Actually Innovative?
      By
      Ruben Ugarte

      The best place to look for innovation is in the quality of decisions being made. Here are three ways you should evaluate your performance.

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      Tall skyscrapers clustered together and across a blue sky
      The 'I Told You So'​ Moment
      By
      Matteo Carbone

      Root has backed away from its plans for telematics -- and suffered mightily -- while Progressive shows how much benefit there can be, when done right. 

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      Overhead view of a road in the middle of a forest
      Aerial Imagery Maps the Future
      By
      Izik Lavy

      Aerial imagery can help insurers underwrite competitively in a world dominated by unpredictable and destructive weather patterns.

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      Abstract circles representing the digital world and the metaverse across a blue background
      New Frontier in UX, Risk Coverage
      By
      Marie Carr
      Susmitha Kakumani

      Insurers that move swiftly and wisely to use the metaverse can enhance customer engagement and create new revenue streams.

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      Earth Blue
      We’ve Got You Covered!
      By
      ITL Partner: JobsOhio

      As customisation and embedded services shape a new era for insurance, companies in Ohio are looking to build partnerships like never before. JobsOhio’s Ron Rock spoke to four of them.

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      Underwriting Trends & Economic Fundamentals
      Underwriting Trends & Economic Fundamentals May Not be Aligned in 2023
      By
      Insurance Thought Leadership
      The Insurance Information Institute

      An Interview with Dr. Michel Leonard, the chief economist and data scientist at the Triple-I, the Insurance Information Institute.

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      Large office building at night with windows lit up
      Insurtech: Not Dead but Different
      By
      Stephen Applebaum
      Alan Demers

      Some insurtechs will struggle, and there will even be some fatalities, but most are making the necessary adjustments and operating successfully.

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      Pieces of ice frozen on a body of water and broken into pieces
      How Digital Twins Help on Climate
      By
      Yuval Mey Rez

      Digital twins help insurers leverage high-quality data to counter unpredictable weather conditions caused by climate change.

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      person holding a high-tech tablet with a projected screen
      Explainable AI Is the Holy Grail
      By
      Rik Chomko

      AI doesn't help much if it just tells you a customer is likely to leave. It has to be able to explain why, so you have a chance to fix the issue.

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      Side profile of a woman against a blue backdrop with binary code lit up across her face
      Has Insurance Become Too On-Demand?
      By
      Justin Kozak

      The "customer-centric" concept isn't wrong, but anything “centric” requires a balance. Has the pendulum swung past the point of effectiveness? 

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      Low angle photo of tall building against a blue sky
      Business Resilience Will Be Tested
      By
      Srdjan Todorovic

      Anger over social inequality and the cost of living, among other factors, is expected to fuel strikes, riots and civil commotion around the world.

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      Thriving in the age of acceleration
      Thriving in the Age of Acceleration 10 actions to Reinvent Insurance in 2023
      By
      ITL Partner: Oliver Wyman

      With change as the only constant, what should CEOs prioritize in 2023? Oliver Wyman shares 10 actions CEOs should take to Reinvent Insurance and fuel growth in 2023.

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      Sand Timer on Desk
      Resiliency in Times of Change: Rethinking Insurance to Help SMBs Thrive
      By
      ITL Partner: Majesco

      Majesco’s new research provides insurers a growth roadmap to meet SMB expectations and needs with new products, services, and channels.

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      high angle photo of a white robot looking at the camera
      5 Key Challenges Where RPA Shines
      By
      Uday Birajdar

      Automation has already been widely accepted by the banking and financial industries. It is high time for insurers to adopt RPA.

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      Cyber brain showing innerworkings on a black background
      How AI Can Help Insurers on Climate
      By
      Izik Lavy

      With climate change bringing unpredictable and damaging weather patterns, AI can assist insurers as they navigate the ever-evolving threat landscape.

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      light blue colored photo showing a hand on a laptop computer typing with a a blockchain globe overlayed
      Blockchain’s Future in Surety Industry
      By
      Lisa Trymbiski

      Bond execution still involves antiquated technology like typewriters and fax machines. It’s time to catch up, including with blockchain. 

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      Call Center
      Here’s Why Insurance Customer Engagement Needs an Extreme Makeover
      By
      ITL Partner: OZ Digital Consulting

      The future is multichannel. Are you? OZ Global Insurance Practice President Mark Smith provides insurers actionable guidance to navigate the CX cutting-edge.

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      Red street sign against a mostly green background that says "do not enter"
      Rejected, Detained, Do Not Enter, Banned…
      By
      Kimberley Gunther

      Laws against using forced labor is creating risks for importers without complete visibility down their supply chains—while presenting an opportunity to insurers.

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      City skyline across a blue and cloudy sky
      Changing the Rap About Insurance
      By
      Amy Littleton

      The industry should come together to conduct a wide-scale campaign to improve its reputation. The campaign would work. It has truth on its side. 

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      Two workers using a welding machine on a construction site
      Unprecedented Severity of WC Claims
      By
      Mark Walls

      Although few seem to have noticed, rising costs on catastrophic workers’ compensation injury claims are creating never-seen-before levels of severity.

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      Four people sitting around a desk on laptops and talking
      Overcoming the Talent Crisis in Underwriting
      By
      Shireen Braun
      Jody Tracey

      The right technology can facilitate real-time sharing of information, bringing together employees of all stripes and driving crucial collaboration.

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      Pieces of paper on a desk that show charts and graphs
      Customer Experience 2.0
      By
      Brandon Smith

      The next generation of insurers must look beyond traditional attributes and embrace new forms of data and analytics, including contextual, behavioral and motivational data.

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      Two people sitting at a table facing each other while typing on laptops
      A Little Empathy Goes a Long Way
      By
      Jeff Tyler

      In developing technology solutions, one of the most overlooked and critical elements of delivering value to end users is empathy -- truly understanding their pain points. 

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      Younger woman at a table helping out an elderly man
      The Future of Caregiving
      By
      Larry Nisenson

      Employers are more aware than ever that employee caregivers represent a large portion of their workforce and require more assistance to stay on the job.

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      Two women at a work table facing another woman who has a laptop
      Your Agency Needs a Tech Leader
      By
      Jennifer Powell

      An effective tech leader has experience in insurance systems and processes but also understands organizations and the need to focus on efficiencies.

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      blue green and purple lines intersecting
      It's Time to Get Back to Basics
      By
      Matteo Carbone

      Let's take a look at the current state of insurtech to see why you should focus your innovation efforts on the basics of the insurance business.

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      Overhead view of Earth with lights
      Geospatial-Based Property Risk Ratings
      By
      Tammy Nichols Schwartz

      The limitations of territory-based rating can become a thing of the past because of increased access to location-specific data and risk scores.

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      Woman at an plugging her car into an electronic vehicle charger
      Should EVs Be More Expensive to Insure?
      By
      Michael Giusti

      Electric vehicles carry higher sticker prices and cost more to repair after a claim -- but that may change soon enough. 

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      Person wearing virtual reality goggles looking at the metaverse
      The Metaverse: Closer Than You Think?
      By
      Mark Breading

      Or further out than you can imagine? For now, the focus should be more on virtual and augmented reality for use cases such as training and healthcare.

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      Steering wheel in a car with a GPS device on the dashboard
      Telematics Updates Are Transforming Auto
      By
      Beth Robertson

      Insurers are becoming more adept at using telematics to differentiate their products, reduce risks and expenses and continue improving the policyholder experience.

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      City at night lit up and with red and white blurred lines representing cars
      Fraud's Increasing Pressure on Underwriters
      By
      James Tesdall

      Underwriters face hyper endorsement, misrepresentation from known fraudsters, as well as criminal networks and the schemes they perpetuate, such as Ghost Broking.

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      Greyscale architectural photo of a glass building with hexagons
      Scaling Back on Strategic Initiatives
      By
      Mark Breading

      12% of commercial lines insurer executives say their businesses are just in sustaining or surviving mode this year following a challenging 2022.

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      Person wearing a scarf and holding a credit card in front of a laptop
      5 Trends to Ride in 2023
      By
      Ian Drysdale

      The U.S. market value for embedded insurance was $5 billion in 2020 and is projected to rise to more than $70 billion in 2025.

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      A person typing on a mac laptop where the screen is entirely white
      Growing Danger From Online Fraud
      By
      Gergo Varga

      While being protected by insurance provides peace of mind to numerous individuals and businesses, insurance companies themselves are at increased risk of fraud.

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      Daisy Article
      Insurers Securing Their Continued Success in 2023 with AI Technology
      By
      Daisy Intelligence

      AI is helping leading insurers stay afloat in this difficult moment of business – securing their share of customers and ensuring profitability

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      Mark Smith
      How Automation Can Address Today’s Growing Underwriting Challenge
      By
      ITL Partner: OZ Digital Consulting

      Incredible as it may seem, the average underwriter today spends seventy percent of their valuable, limited time on tasks unrelated to underwriting. But does it have to be this way? Mark Smith, President of the Global Insurance Practice at OZ Digital Consulting, reveals how advances in intelligent automation can not only remedy that disparity, but open up entirely new avenues to opportunity, productivity, and profitability.

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      Digital Self-Service Is Transforming Insurance
      Digital Self-Service Is Transforming Insurance
      By
      Pypestream
      Insurance Thought Leadership

      Self-service automation is the next step in the insurance industry. The right solution can be a win-win for insurers and customers, while the wrong solution can irritate customers and ruin a carrier’s reputation.

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      Blue/green/purple fiber optic cables that look like they're exploding
      Tech Acceleration in Personal Lines
      By
      Heather Turner

      Personal lines executives see the potential for new user interaction technology to transform core business areas, primarily policy servicing and claims.

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      Phone with a qr code on a blue background on the screen
      The Future of Claims Is Touchless
      By
      Bill Brower

      But there is a disconnect: The processes insurers use haven’t adapted to the capabilities of the new technology they have adopted.

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      A person holding a virtual tablet
      AI Has Finally Entered the Building
      By
      Peter Rousmaniere

      AI's capabilities have surged so much that it has the potential in 2023 to dramatically raise the quality of claims handling and underwriting in workers’ compensation. 

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      Launch new products quickly while accelerating your digital transformation
      By
      Equisoft

      In this webinar from Equisoft, learn how taking a Greenfield approach as a first step in policy administration system modernization can reduce risk, accelerate innovation and help carriers stay ahead of the digital transformation curve.

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      Skyscrapers against a dark blue sky with a cyber circle in the background
      A Look Ahead for Insurtechs in 2023
      By
      Dustin Lemick

      The coming year will likely present a lot of opportunities for big carriers to buy whatever they’re interested in.

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      Blue background with a computer mainframe heading toward a light blue silhouette of a face
      The Rise of AI: a Double-Edged Sword
      By
      Neil Chapman

      Instead of asking how ethical a firm’s AI is, we should ask how far ethics is taken into account by those who design the AI, feed it data and use it to make decisions.

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      People looking over a document
      6 Tech Hurdles to Customer-Friendliness
      By
      Denise Garth

      How can insurance processes and next-level technologies place the "friendly" back into "customer-friendly"?

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      Wheat
      Finding Mecca in the Midwest
      By
      ITL Partner: JobsOhio

      Ohio is committed to business development and innovation across the financial industry. Ron Rock, Senior Director of Insurance and Insurtech at JobsOhio, explains how state enterprise is targeting this increasingly important part of it

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      Staircase against a white building
      How to Rise Above Disruption in 2023
      By
      Greg Foster
      Gregory Domareki

      Insurers started 2022 in a position of strength and still are in a good spot to drive down costs and increase demand, unless rising claims costs and market volatility continue.

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      Person pointing at a laptop showing charts while working at a table
      7 Key Trends in 2023
      By
      Yasir Andrabi

      To help industry players orient themselves, compete more effectively and better serve customers in an increasingly volatile world, here are trends to watch for. 

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      Person in a blue blazer sitting and working on a tablet
      Key Insurance Exposures for 2023
      By
      Richard Clarke

      The assortment of massive claims events in 2022 has made insurance more desirable for buyers and insurers more nervous.

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      Low angle photo of two tall buildings with green lights
      Trends Transforming Mid-Tier Insurers
      By
      George Ravich

      Technology will allow carriers to develop new products with greater efficiency, speed and economy than ever before.

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      Light bulb on a pink and blue background
      Growing Universe of ESG Risks
      By
      Donna Galer

      Failure to meet ESG goals can lead to investor dissatisfaction, regulatory scrutiny, shaken consumer loyalty and reduced sales, among other outcomes.

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      Doctor with a stethoscope around his neck with his arms crossed
      The Case for Early Intervention
      By
      Karen Thomas

      In workers' comp, a patient-focused, early intervention claims management model has demonstrated many key improvements over traditional case management.

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      Woman with a headset on sitting at a desk
      An Agent’s Guide to Outreach in 2023
      By
      Doug Coombs

      In this new year, agents should branch out of their comfort zones and consider how to improve their efforts to identify and capture new business.

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      Looking at Computer
      7 Key Business Objectives You’ll Meet with Cloud Adoption
      By
      ITL Partner: OneShield

      This latest eBook from ITL Partner, OneShield, illustrates the benefits of cloud adoption and the innovative initiatives it enables.

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      Two women sitting at a desk with notebooks
      Branded Communication: A Strategic Enabler
      By
      Joshua Ayres

      At a time when few answer a call from an unknown number, insurers can identify themselves as a legitimate caller by displaying logos and a reason for the call on the recipient’s device.

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      Blue image of a camera lens with a lock on the inside showing cybersecurity
      3 Cybersecurity Considerations for Insurers
      By
      Grant Gibson

      Insurance companies store large amounts of information about their policyholders, and attacks are expected to grow in frequency and severity in the coming years.

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      Woman at a desk in front of a computer thinking
      U.S. Gig Economy Is Here to Stay
      By
      Sir Nigel Wilson
      John Godfrey

      Survey responses from 1,000-plus subjects very much confirmed that gig work is here to stay. 59 million Americans— 36% of the workforce—are classified as gig workers.

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      Woman giving a presentation in an office in front of a window
      3 Fatal Mistakes Risk Consultants Make
      By
      Alexei Sidorenko

      Most risk products that non-financial companies want to buy, and many risk consultants continue to sell, are missing the point completely.

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      Office building against a blue sky with clouds
      Where Small Commercial Insurers Are Investing
      By
      Mark Breading

      Nearly all say improving the customer experience for the agent/broker is one of their top business drivers for tech investments, up 20% over 2021.

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      A road with streets lamps and blurred red lights
      How to Know If You Need Telematics
      By
      Matteo Carbone

      Telematics can provide strategic value and returns on many levels in the insurance business. Here are six questions to ask to see if you can benefit.

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      Person holding a small green plant in their hand
      Risk Management for Agriculture
      By
      Ramsey Masri

      Climate change demands a revolution, so the insurance industry can become more resilient and better meet the needs of farmers.

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      Abstract image of blue, red, and yellow circles resembling data
      Unlocking New Frontiers in Claims
      By
      Pardeep Bassi

      The application of advanced analytics is already well ingrained in underwriting. It has only more recently begun to exert more influence in claims operations.

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      Abstract photo of a blue image showing technology and cyber
      A New Era of Cyber Risk
      By
      Erin Whitmore
      Christopher Mee

      Geopolitical conditions, specifically those related to Ukraine, have increased risks as nation-states orchestrate prolific cyberattacks against other countries.

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      Overhead shot of trees and a road covered in snow
      Key Learnings From Winter Storms
      By
      Steve Hernandez

      Winter Storm Elliott highlights the importance of preparedness and provides fundamental lessons to better manage winter risks and advance business resilience.

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      A man holding a credit card for an online purchase
      Why Prepayment Reviews Make Sense
      By
      Mark Johnson

      Prepayment reviews can save money and increase an organization’s efficiency by reducing the workload and friction of concluding retrospective payment reviews.

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      A colorful image of a tech circuit board showing cyber
      Risk Barometer for 2023
      By
      Thomas Varney

      Cyber incidents and business interruption rank as the biggest company concerns for the second year in succession in the Allianz survey.

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      Woman sitting at table
      Sponsored
      Achieve Efficient Investigations with a Comprehensive Investigative Workflow
      By
      Daisy Intelligence

      Discover an integrated suite of solutions that detect fraud, automate claims processing, and underwrite risk - delivering incremental value and verifiable financial results.

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      A graphic of the Earth in a body of water under a red sky
      3 Key Takeaways From FIO Proposal
      By
      Ashlyn Anderson

      The Federal Insurance Office's proposal on collecting more data to improve understanding of the impacts of climate change is a great start -- but can be improved.

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      Far away picture of a mountain under a sunny sky with green trees in the foreground
      20 Issues to Watch in 2023
      By
      Kimberly George
      Mark Walls

      While there are certainly more than 20 issues to discuss, here are high-impact matters relating to workers’ comp, healthcare and risk management that need more attention.

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      Blue geometric background with binary code
      Who to Blame for a Cyber-Attack?
      By
      David Geller

      Some 2,300 business interruption suits have been filed related to COVID-19, and a massive cyber-attack would surely produce even more--and more confusing--suits. 

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      Two people sitting around a computer and tablet showing trends
      The Strain on IT Departments
      By
      Jeff DeVerter

      The employee-oriented job market is putting a strain on insurance IT departments, because over half are having difficulty hiring and retaining tech staffers.

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      Person signing name at the bottom of a contract
      A New Year's Resolution for Procurement
      By
      Robin Merttens

      Let's behave less like the secret police in a totalitarian state and procure in a more empathetic, flexible, open, friendly and fair way.

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      Woman sitting at a desk in front of a computer in an office building
      Use of Interim Executives Rises
      By
      Alan Lurty

      People who choose interim or contract work are often highly skilled, mission-oriented and project-based individuals who assimilate quickly into new environments.

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      Woman at a desk in an office in front of a computer
      Life Insurers' Labor Issues
      By
      Olivier Lafontaine

      Younger generations want jobs in which technology reduces frustrations, increases productivity and enables quick successes. In insurance, too many obstacles still exist.

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      Person in a car with one hand on the steering wheel
      Risks Rising for Commercial Drivers
      By
      Patrick Foy

      Profitability remains elusive for the U.S. commercial auto insurance sector as inflation and supply chain delays cause claims costs to skyrocket.

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      Computer on a table along with glasses, headphones, and a book
      3 Signs Your Underwriters Are in Trouble
      By
      Chris Mullan
      Tim Crowe

      Fortunately, technology is maturing just in time to respond to common challenges, allowing underwriters to refocus their time on what they do best. 

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      Light green diagonal lines on a blue background
      A New Approach to Embedded Insurance
      By
      Chris Bassett

      The real opportunity requires introducing insurance at the point-of-design, rather than making it a bolt-on at the point-of-sale.

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      Open glass building with many people sitting at tables
      Humanized Experiences Are the Key
      By
      Jess Keeney

      Humanized experiences are the only way insurance can successfully digitally transform to serve its purpose. Let’s look at our future through this lens.

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      Person typing
      Cybersecurity & Innovation: Keeping pace in 2023
      By
      ITL Partner: OneShield

      With the rise of SaaS solutions propelling insurers to adopt emerging technologies faster than ever, ensuring security requirements can keep pace with technology adoption is imperative.

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      Black and white checkered building
      Market Outlook: Weakness May Linger in 2023
      By
      Richard Sega

      We had expected the U.S. economy to muddle through 2022 to a soft landing with modest inflation, but we find ourselves with skittish markets and possibly a downturn in 2023.

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      Graphic of a phone and a computer showing a chart trending upward
      How to Get in Front of 2023 Trends
      By
      Tara Kelly

      Times like these are when bold leaders who believe in trust and value can really shine, so challenge yourself to be that intrapreneur or entrepreneur.

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      Workers on computers
      Should Hippo Be in Play?
      By
      Matteo Carbone

      The latest results still show major problems, but they have some digital assets that could be of great help to an incumbent insurer, and for a modest price. 

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      Photo of a doctor checking on her patient
      Rethinking Provider Networks in Work Comp
      By
      Rhonda Moran

      Companies with custom physician provider networks experience 50% shorter treatment duration, 60% lower average medical expense and 35% shorter claim duration.

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      Laptop with a lit up keyboard and data and code showing in multiple colors on a dark screen
      Is Online Privacy the New Ransomware?
      By
      Ian Cohen

      While ransomware attacks may be in a lull, cyber insurers are facing a new wave of claims due to data privacy violations--and are scrambling.

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      Electronics parts of a motherboard
      2023 Plans for Transformational Technologies
      By
      Heather Turner

      Investments in digital, AI and connected world technologies remain top priorities for insurers, but they are being strategic about how they accelerate certain technologies.

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      Photo of the side of a boat
      Elevate Your Success Through Gratitude
      By
      Michael de Waal

      Lead by example and embody positivity, confidence, humility and gratitude. You will have a significant impact on the success of your team or organization.

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      A man in a suit and tie talking to two other people
      What Pundits Miss on Independent Agents
      By
      Peter van Aartrijk 

      To begin with, we all should rethink the terms independent agency “system,” “channel” and “distribution.”

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      Person shaking hands with another person
      A Blueprint for Winning the War for Talent
      By
      Toni Tomic

      Here are six creative approaches that are enabling insurers to uncover, connect with and hold on to top talent at a time when it's at a premium.

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      Person typing on a computer with a spreadsheet open
      The Cost of Still Using Spreadsheets
      By
      Mark Tainton

      In today’s complex risk landscape, spreadsheets can no longer carry their weight. They create administrative burdens and introduce the possibility of human error. 

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      Graph on a computer screen
      3 Key Steps to Next-Generation Analytics
      By
      Chris Cooksey

      Most insurers focus too much on the technical issues related to data and too little on the more strategic aspects, especially on embedding analytics into workflows. 

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      A yellow sparkler
      Top 5 Challenges Facing Agents in 2023
      By
      Shawn Meaike

      One challenge is recognizing this might be the greatest time ever to recruit people, because 70% of employed individuals say they need a second income to make ends meet. 

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      Yearly Wrap Up
      2022 ITL Yearly Wrap Up

      ITL Six Things: 2022 Highlights

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      Woman with colorful text projected onto her
      Ending the Tedium in Insurance
      By
      Wojtek Gudaszewski

      Anyone who has purchased insurance by phone and a series of back-and-forth emails knows how slow and difficult that process can be. But it doesn't have to be that way. 

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      interview with aimee kilpatrick banner
      An Interview with Aimee Kilpatrick
      By
      Insurance Thought Leadership

      Aimee Kilpatrick, chief operating officer at Cadence Insurance, describes how the Cadence Bank-owned insurance agency is tackling the industry-wide talent shortage, and how it is meeting clients' evolving needs,

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      Person typing on a computer
      Cybersecurity Trends in 2023
      By
      Christopher Strand

      The abundance of regulatory updates and revisions in 2022 promises tighter rules and regulations in 2023.

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      Person holding pen and notebook sitting by a computer
      Key D&O Risk Trends for 2023
      By
      Vanessa Maxwell

      The possibility of global recession, concerns about cyber security and increased scrutiny on ESG issues top the list in Allianz's annual D&O report.

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      Lights arranged in circular patterns
      Insurance Technology's Ugly Legacy
      By
      Bob Meier

      Despite a decade of digital transformation, the insurance ownership gap is widening across the industry and productivity has been flat. Here's why....

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      People looking at a computer together
      Improving the Quality of Your Leads
      By
      Jamal English

      Haphazard marketing may result in a decent amount of web traffic. But if those prospects do not convert into customers, you've wasted your time, effort and money. 

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      Road closed sign on a flooded road
      It Takes an "Insurance Village"
      By
      Deb Franklin

      Drawing on our national franchise, we set up an "insurance village" after Hurricane Ian. Here are three lessons we learned that can help agents make an impact after a natural disaster.

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      Person in suit sticking out their hand for a handshake
      Dissatisfaction With Digital Sales Capabilities
      By
      Mark Breading

      Across the sales value chain, insurer executives generally have low satisfaction with digital capabilities, particularly in early stages of the sales process.

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      Phone held up with light reflecting off of it
      Embedded Insurance and the Gig Economy
      By
      Michael de Waal

      Carriers can bundle products, enable direct mobile sales channel distribution and offer relevant, affordable and flexible coverage to the underserved market of gig workers.

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      Woman holding a mug and typing on a computer
      Transforming? Use Fear as Fuel
      By
      Ali Davachi

      If, instead of being paralyzed, you use fear to motivate you to check out every factor that could go wrong and mitigate that negative potential, your odds of succeeding skyrocket.

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      Person in gloves and hospital scrubs with a pen and paper
      Highlights on New Workers’ Comp Rules
      By
      Lisa Bickford

      Among other likely changes, outpatient hospitals will receive a 3.8% rate increase and a new type of "rural emergency hospital" will be established. 

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      Two women looking through a window and pointing
      How to Plug Gaps in the Market
      By
      Tim Hardcastle

      With increased adoption of APIs (application programming interfaces), embedded insurance products can seamlessly integrate into third-party buying processes. 

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      Aerial shot of a flooded town
      AI, Aerial Imagery Can Help Spot Flood Risks
      By
      Yuval Mey Rez

      Any company that still relies solely on governmental property records instead of using AI-derived property databases is significantly increasing its risks.

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      Water droplet splashing into a puddle
      How to Stop Claims Leakage
      By
      Chaz Perera

      "Digital coworkers" can address the staffing shortages that claims departments face, while covering for inadequacies in technology and processes.

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      Person writing on a clipboard
      Life Insurance Requires New Conversations
      By
      Wade Seward

      Haven Life's second annual Q4 survey highlights a large gap in knowledge surrounding life insurance and its role in building a financially secure household.

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      Forest fire
      A Breakthrough in Wildfire Safety
      By
      Izik Lavy

      Combining artificial intelligence with aerial imagery can allow for the creation of 3D property insights and make risk identification quicker and more efficient.

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      Small shopping cart with money in it next to a laptop
      How to Help Digital Businesses Reduce Risks
      By
      Guy Salame

      Traditional insurance companies do not offer the coverage options e-commerce retailers need to protect themselves against emerging risks.

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      Can P&C Grow Despite Mounting Global Risks?
      Can P&C Grow Despite Mounting Global Risks?

      In this webinar with ITL Editor-in-Chief Paul Carroll, Michel Leonard, head of the Insurance Information Institute's Economics and Analytics Department, discusses the prospects for P&C growth in the face of fiscal and geopolitical risks. 

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      Robotic hand below blue light
      Automation 2.0: What's After RPA
      By
      Tom Bobrowski

      Robotic process automation is giving way to E2E (end-to-end), the only acronym that matters. Here are three guiding trends for the new automation platforms. 

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      Pink and yellow lights
      How to Unlock Data--and Profitability
      By
      John Horneff

      Previously inaccessible data on customer insights, producer management and renewal optimization can improve a carrier's or MGA’s topline growth by up to 30%.

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      Two people in hard hats looking at a sheet of paper
      Staying Safe in the Holiday Season
      By
      Michelle Genser

      Unfortunately, this time of year frequently sees an increase in workplace injuries, because of added responsibilities, stress, tighter deadlines and a decreased workforce.

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      How to Benefit From the Power of Data
      By
      Rachel Cruce

      Merely personalizing the subject line in emails can yield an open rate of up to 50% (the average being less than 18%). 

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      Skyscrapers poking through the clouds
      5 Most Outdated Cloud Myths
      By
      Ram Rangaraj

      Evidence of the cloud's inherent strengths continues to accumulate, just as the perceived drawbacks and limitations of cloud technology are waning.

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      Person running on a treadmill
      Are Health Engagement Programs Worth It?
      By
      Heather Majewski

      Do the benefits of engaging with customers on health and wellness outweigh the costs of launching and running the program? 

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      Global Insurance Forum Expert Series
      Global Insurance Forum Experts Series: An Interview with Joshua Landau

      A Conversation with Joshua Landau

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      Person holding a pen in their hand while using a computer mouse
      Outsourcing 2.0 to the Rescue
      By
      Alan Demers
      Stephen Applebaum

      Outsourcing has moved front and center as the P&C industry transforms to manage today’s new realities, but it has become much more sophisticated. 

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      A plane flying above two tall buildings
      Some Surprises at Lemonade
      By
      Matteo Carbone

      For every dollar of premium sold, the company pays $1.60. Still! And the churn rate for customers appears to be at least 30% to 40%.

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      Person holding the wrist of an elderly person
      Long-Term Care Insurance Must Evolve
      By
      Larry Nisenson

      Aging has evolved, and there is no longer enough good information about the populations being insured, so every policy issued has more risk than it needs to.

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      Person in suit pointing at circles on a screen
      Automation Accelerates in Underwriting
      By
      Deb Smallwood

      Eighty-nine percent of insurers are planning or applying automated workflow technologies to their small business operations.

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      Small globe in front of a computer
      What's in Store for Us in 2023
      By
      Michael Giusti

      A few trends stand out, from the impact of the 2022 election to the continuing roles of inflation and COVID-19, and even green energy’s impact. 

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      Person answering a video call on her computer
      How Video Fast-Tracks Underwriting, Claims
      By
      Rama Sreenivasan

      50% of small business owners trust their carriers more than they did pre-pandemic. That number jumps to 80% when the business owner has filed a claim.

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      Four skyscrapers with the blue sky in between
      Personal Lines Channel Strategies
      By
      Mark Breading

      Given how quickly the landscape is evolving, we will likely have a very different channel environment in five years than the one we have today.

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      Workers working on power lines
      Business Interruption Loss Trends
      By
      Scott Inglis

      The corporate world is now so connected and complex that underwriters need to understand accumulations of exposures within corporate distribution and value chains.

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      Empowering the Underwriter of the Future
      By
      Megan Bock Zarnoch

      I asked an audience how long it takes a new underwriter to go from zero to productive: The majority voted for 24 to 36 months. This is a ludicrous proposition in the age of AI.

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      Trucks lined up on a highway
      How Telematics Improve Fleet Safety
      By
      Julie Lawton

      Within the fleet industry, the most common cause of crashes is distracted driving, which injured more than 420,000 drivers and killed 3,142 people in the U.S. in 2020 alone.

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      Electric vehicle charging
      Electric Vehicles: A Use Case for UBI
      By
      Adam Kostecki

      EVs bring to light some potentially interesting implications on auto insurance. They could represent a prime use case for a new type of embedded usage-based insurance policy.

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      Part 2: The (Re)rise of Insurtech
      By
      Ian White

      Insurtech 2.0 recognizes the innovators who came before but takes a more nuanced and collaborative approach, recognizing the structural issues inherent in insurance.

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      Electric vehicle charging
      How Will Electric Cars Affect Insurance?
      By
      Gregg Barrett

      Electric vehicles are more difficult and costly to repair or replace compared with gasoline vehicles, but the issues will fade over time. 

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      Underwriting Enters a New Age of Data
      By
      Deb Smallwood

      96% of insurer executives see personal lines underwriting undergoing significant changes within five years – remarkable given the shifts that have already occurred.

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      Part 1: Insurtech 1.0: A Post-Mortem
      By
      Ian White

      The legacy of Insurtech 1.0 may be more enduring than the actual companies. They forced incumbents to recognize their intransigence, producing a new focus on customer experience.

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      Global Insurance Forum Expert Series
      Global Insurance Forum Experts Series: An Interview with Thierry Léger

      A Conversation with Thierry Léger

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      Can Insurers Connect to the Connected Car?
      By
      Donald Light

      Auto insurers have a strategic imperative to not be left behind in the race to monetize connected car data, and there are several ways insurers can do this.

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      Person holding a drawing of a house in their hands
      Biggest Home Insurance Factors for 2023
      By
      Adrian Dzielnicki

      Rising costs, general anxiety about the economy and a surge in relocation that began during the pandemic are driving insurance shoppers to seek more options.

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      Computer and stethoscope
      Will Medical Inflation Hit Workers' Comp?
      By
      Raji Chadarevian
      David Colon
      Amelia Carroll

      While medical inflation in workers' comp has remained moderate for the past decade, the recent spike in consumer prices has elevated concerns.

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      Several birds flying over the beach in the sunlight
      We're Flying Blind on Climate Risk
      By
      Denise Bower
      Carlos Sanchez

      Because infrastructure often has a long lifetime, it's crucial to understand physical climate risks and embed resilience from the outset. 

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      Person tapping the screen of a FitBit while outdoors
      The Key to Cutting Workers' Comp Costs
      By
      Stephanie Gifford

      Wearable devices paired with artificial intelligence can significantly reduce workers' comp costs for businesses and the insurance providers that protect them. 

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      A gold lock atop a blue background with elements of data
      Most People Won’t Trade Away Privacy
      By
      Andrew Hurst

      More than six in 10 people don’t think that any discount is worth letting insurance companies collect more information about their driving habits and homes.

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