Monthly Archives: May 2019

Research & Trends: White Papers Edition: Friday, May 24, 2019



 
Insurance Journal
 



 

Research & Trends White Papers Edition

Access white papers, webinars, and important resources in Insurance Journal’s new research and trends section. insurancejournal.com/research

 
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Acquire and Grow: Benefits and Challenges of Acquiring an Insurance Business

Sponsored by: Oak Street Funding

Is acquisition part of your growth strategy? Growth is on the mind of driven insurance professionals. A growing insurance business is a means to revenue growth and increased commissions. Acquisitions provide a …

 
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Does Pursuit of Subrogation on Low Dollar Property Claims Have Value?Richer and Nichier: How to Grow Big in Small Markets

Sponsored by: Spartan Recoveries LLC

The answer is YES, and it’s in the millions. Learn how pursuing subrogation on low-dollar property claims – which may be overlooked in lieu of more robust recovery opportunities – can have a significant impact …

 
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The Complete Carrier Playbook to Writing Better Business

Sponsored by: Vertafore

The underwriting process is often laced with a series of challenges and unique pain points that impact our key stakeholders: the agents and underwriters. And there’s no greater threat to your growth and …

 
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The 4 Keys To Optimizing Your Claims Paying Process

Sponsored by: GIACT

The increasing sophistication of claims fraud tactics has propelled insurers’ fraud losses to an all-time high. Not only are insurers forced to grapple with steep increases in fraudulent activity, they are also …

 
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Medical Marijuana Access in the United States

Sponsored by: Research & Trends

In its 2018 Annual Report, Americans for Safe Access provides a report card for each state based upon the accessibility of medical marijuana for patients seeking its assistance. The report cards reflect: …

 
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On Demand: Richer and Nichier – How to Grow Big in Small Markets

Sponsored by: Vertafore

Are you curious to see how independent agencies are expanding into niche lines of business in order to grow their book? In this webinar, for agency leaders, sales, and marketing, you’ll learn how you can become …

 
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J.D. Power: P&C Insurance Industry Insight Brief

Sponsored by: Research & Trends

Two Large Carriers Capture 54% of Auto Premium Growth in 2018 as Direct-to-Consumer Model Gains Traction This brief explores how Progressive and GEICO have achieved this in the following: “The shift in consumer …

 
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The Carrier’s Race to Zero Questions: The Future of Automated Underwriting

Sponsored by: Verisk

The quest by many carriers to fully automate the underwriting process has become a race to as few questions as possible. Why join the race? More and more agents and customers want fast approvals and automated …

 
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Better Data, Better Relationships

Sponsored by: Vertafore

Insurance is about relationships. With the advent of artificial intelligence and machine learning, you might think that relationships will become less important. However, this couldn’t be further from the …

 
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APIs: The New Game Changer for Commercial Auto Carriers

Sponsored by: Price Digest

How can carriers improve operational workflow, reduce data handling costs and modernizing their business platform for real savings? With APIs… API solutions have contributed to a major insurance industry …

 
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The Impact of Sea Levels Rising

Sponsored by: Research & Trends

Estimating Recent Local Impacts of Sea?Level Rise on Current Real?Estate Losses: A Housing Market Case Study in Miami?Dade, Florida “We find empirical support for significant and negative impacts, in property …

 
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2019 Future of Claims Study: Balancing Automation and Empathy

Sponsored by: LexisNexis Risk Solutions

Are insurance carriers’ claims processes aligned with consumer expectations? Read this study to learn more. Auto insurance carriers are increasingly using automation to increase efficiencies, reduce costs and …

 
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2018 Hurricane Season: Review and Analysis

Sponsored by: Research & Trends

This report includes a review and loss estimate for the four landfalling storms that had a significant impact on the US in 2018. This includes analysis of the damages caused by Hurricane Michael, the first …

 
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Cannabis and Insurance: What You Need to Know About the Budding Business

Sponsored by: Cannasure Insurance Services

Available on demand now! Think Cannabis Insurance 101 – and Beyond This webinar, hosted by Insurance Journal, provides you with an overview of what’s going on in the world of insurance and cannabis. We’ll …

 
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New York Reigns As Insurtech Capital of the World… For Now

Sponsored by: Carrier Management

Featuring analysis prepared by Venture Scanner, exclusively for Carrier Management, this new report reveals the top 20 cities attracting insurtech around the globe. See which cities top the charts by number of …

 
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State of the P&C Insurance Industry 2019: Chris Burand

Sponsored by: Burand Associates

Purchase Today! Now in its 22nd year of publication, highly-respected and outspoken insurance agency and industry consultant Chris Burand shares his “must-read” annual state of the property/casualty insurance …

 
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2019 Agency Salary Survey

Sponsored by: Insurance Journal

This report is a must whether you’re seeking employment or the person in charge of recruiting. With results from 800 active employees in the insurance agency industry, gain direct insights from our audience …

 
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Preparedness and Safety Messaging For Hurricanes, Flooding and Similar Disasters

Sponsored by: CDC

The CDC has compiled steps for storm preparation and measures to be taken to remain healthy in post storm conditions. This report includes detailed instructions for maintaining clean water and healthy food …

 



 
 
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Mobile Gains Traction with Insurance Customers, But Digital Interactions Fall Short of Expectations, J.D. Power Finds

https://finance.yahoo.com/news/mobile-gains-traction-insurance-customers-110000667.html

MAPFRE Insurance and GEICO Rank Highest in Respective Segments

COSTA MESA, Calif., May 23, 2019 /PRNewswire/ — Property and casualty (P&C) insurance companies have shown marked improvement in many of their digital offerings—particularly mobile self-service functionality—but still have work to do to meet customers’ rising expectations. According to the J.D. Power 2019 Insurance Digital Experience Study,SM released today, specific areas where insurers come up short when compared with mainstream digital consumer companies are with ease of shopping and servicing their policies, household-level policy management and inconsistent use of social media.

J.D. Power 2019 U.S. Insurance Digital Experience Study

J.D. POWER 2018 INSURANCE DIGITAL EXPERIENCE STUDY℠ | Centric Digital

https://centricdigital.com/reports/jd-power-insurance/

INSURERS ARE INCONSISTENT IN CORE INSURANCE-SPECIFIC CAPABILITIES

The study found that insurers were inconsistent in their delivery of capabilities most relevant to the insurance customer and shopper experience. Gaps revealed in the DIMENSIONS Scan include web chat, customer service capabilities, and personalization.

This city has the best quality of life in the world, according to Deutsche Bank ranking (it’s not in the U.S.) – MarketWatch

https://www.marketwatch.com/story/these-cities-have-the-best-quality-of-life-according-to-a-new-ranking-2019-05-20

This year, Zurich topped the list, moving up one spot since 2018.

Coming in close behind were cities Wellington, New Zealand and Copenhagen, as well as Edinburgh, and Vienna.

Insurance Innovation Outlook 2019: Practitioners’ Predictions | Celent

www.celent.com/insights/627177056

Claims Insurtech Snapsheet Raises $29 Million to Expand Into All P/C Lines and Globally

www.insurancejournal.com/news/national/2019/05/20/526833.htm

8 Competitor Monitoring and Analysis Tools to Help Improve Your Digital Marketing Efforts | Social Media Today

https://www.socialmediatoday.com/news/8-competitor-monitoring-and-analysis-tools-to-help-improve-your-digital-mar/554666/

Analyzing what your competitors are doing online is important for multiple purposes – from being inspired by their ideas, and avoiding their mistakes, to adjusting your marketing strategy in-step.

And with social media taking up a huge share of online traffic, paying attention to how to get ahead of your competitors on social platforms is incredibly important. To do this, you need to look at what your competitors do, and what people are saying about them on social media.

In order to facilitate such process, you need to understand which are the right competitors to monitor, and which aspects of your competitors’ businesses are worth analyzing. You then need to decide which audience, engagement, and content metrics are useful in your particular case.

In this post, we’ll take a look at eight competitor analysis tools and apps that can help you maximize your assesment efforts.

YouTube’s new ‘Bumper Machine’ automates 6-second ad production | Marketing Dive

https://www.mobilemarketer.com/news/youtubes-new-bumper-machine-automates-6-second-ad-production/554699/

Brief:

  • YouTube is testing a software tool called “Bumper Machine” that aims to optimize video ads for mobile audiences, TechCrunch first reported. The video-editing tool uses machine learning to pick out key moments from a longer spot and condense them into six-second bumper ads, a format that the video-sharing site introduced three years ago.
  • Food delivery app GrubHub shortened two 13-second ads with Bumper Machine by identifying more exact marketing messages the company wanted to show. A GrubHub spokesperson told MediaPost that the short-form videos gave it more flexibility in its ad placements as part of ongoing campaigns.
  • The Bumper Machine looks at video spots and identifies elements such as human characters, motion, sharpness of the focus and quality of the framing. It can help marketers to identify the message and how best to convey that in six seconds, Vishal Sharma, VP of product management at YouTube, told MediaPost.

Impossible Foods raises $300M as exec touts long runway for growth | Food Dive

https://www.fooddive.com/news/impossible-foods-raises-300m-as-exec-touts-long-runway-for-growth/554398/
First introduced in 2016, the plant-based Impossible Burger is currently sold in more than 7,000 locations around the world, including trendy restaurants, establishments like White Castle and Red Robin, and places like Disney parks and college campuses. A test of the Impossible Burger at nearly 60 Burger Kings went so well that the fast food restaurant is planning to roll out the product to all of its 7,200 locations.

Vienna Victorious





May 14, 2019

 

Briefed while Walmart is rolling out NextDay delivery in Phoenix and Las Vegas



THOUGHT OF THE DAY
“Set in 2028, VIG’s fictional story centres on Tom, a 30-year-old blockchain architect.” – Vienna Insurance Group (VIG) is planning for the role it will play come 2028 by painting a picture of a typical day in the life of a young blockchain architect named Tom. The Group is currently in the process of implementing more than “150 digitalization projects,” the majority of which will be completed within the next two years. 
 


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TIDBITS
Post Accident Experience
Volvo Car USA is introducing Volvo Car Accident Advisor – “the first mobile, post-accident experience.”
 
The new service was developed with the help of CCC Information Services and serves up emergency services and checklists, guided accident documentation and digital insurance claims and repair services to keep drivers safe, informed and in control after a collision. After drivers contact Volvo Customer Care and confirm they are uninjured and do not need emergency services, a link is texted to their smartphone, which opens a web-based application that takes drivers through important steps following an accident. Volvo Car Accident Advisor will prompt drivers to capture facts and photos of the accident scene, offer them the option to digitally notify their insurer and to search for collision repair shops, helping to speed claims handling, reduce repair-cycle time, and better manage the overall post-collision process. Bottom Line: Claim Di comes to mind.
 
 
Stapled

Asurion (think: 300m customers globally) has announced it’s working with Staples to provide customers who purchase Staples Protection & Tech Help Plan with tech help on their personal, smart home and home office technology.
 
“As we continue to expand Staples’ assortment of personal, smart home and home office tech options for our customers, it’s only natural that questions come up regarding how to get the devices setup and working together, how to optimize them to work more smoothly, and ‘Who do I go to when I need more help?’. Our new Staples Protection and Tech Help plans powered by Asurion provide the solution to all these questions in one place, helping our customers to be more productive and connected through their technology.” – Staples Chief Merchandising Officer Peter Scala. Bottom Line: Walmart is to Allstate, as Staples is to Asurion.

U Complete Me

Malaysian telecommunications company U Mobile has signed a collaboration agreement with Chubb Insurance Malaysia, to offer a range of general insurance products to both U Mobile and non-U Mobile customers.
 
The partnership – set to begin during the third quarter of 2019 – will make Chubb’s micro personal accident insurance as well as a range of travel and motor insurance products available via U Mobile’s soon to be launched e-wallet service GoPayz, allowing users to receive quotes, purchase and manage their policies through the GoPayz app and website. Bottom Line: U Mobile has a 14% market share and ~6m subscribers.

Mobility Insurance

Mobly, a mobility platform and a Baloise subsidiary, has launched a new ‘mobility insurance’ product which offers pay-per-mile car insurance.
 
Customers start the process online to later plug in the OBD2 dongle into their vehicles. The Mobly app provides a detailed overview of the number of miles driven and customers receive an invoice based on the actual number of miles. The policy also offers customers coverage for physical injuries while using other modes of transportation. Mobly was launched in 2017 by Baloise to offer a range of mobility services. Additional services include on-demand breakdown assistance and free car assessment reports to determine the market value of cars. So far, car reports helped thousands of people when purchasing or selling a car in the past year, and more than 30k Belgians use the breakdown assistance app.
 

123 Million

Nextdoor, “the private social network for your neighborhood,” has announced $123m in funding led by Riverwood Capital, with participation from existing investors Benchmark, Tiger Global Management and Kleiner Perkins, and new participation from a large global asset manager.
 

 

“Around the world, there is a universal yearning for the connectedness of proximity. Neighbors everywhere still love and care about belonging and contributing to a tangible, real place as evidenced by Nextdoor’s continued growth and expansion throughout the US, Europe and Australia.” – Nextdoor CEO Sarah Friar.

// London-based Halo plans to operate in the same space. Keyword: Plans.
 


 
Working on Those 10k Steps
 
 

UPCOMING MEETUP

Our upcoming meetup is scheduled for May 16th, 6-8 PM at KiwiTech. RSVP here.

 


 

COVERAGER RESEARCH

Subject: Vehicle Subscriptions. Date & Time: May 22, 2019 4:00 PM Eastern Time. Format: Webinar. Registration: Restricted & Required.
 

JOB BOARD

Jetty – (Senior) Property Claims AdjusterNoblrDirector of Sales & ServiceSmith & Wilkinson – Director of Biz DevVeriflyVice President, InsuranceCANARY ConsultingData AnalystAREA42 – Office & Happiness Manager (1/5). Cover Genius – Insurance Product Manager – Automotive (1/3). Simply BusinessLicensed Insurance Agent. Galecki Search Associates – Head of Product Development (1/2). Clearcover – Backend Engineer. Farmers – Product Analytics Manager (1/4). Breathe Life – Director, Business Development.

* See all available jobs here.
* Post a job here.

 


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