While Tesla said in a blog post that it will be able to lower costs because the company “knows its vehicles best,” the carmaker won’t use or record vehicle data when pricing insurance, according to its website.
"I wish I could fire everyone who hasn’t done anything about gun violence. I shouldn’t have to grow up without a sister. No one deserves this."- Isaiah Greene, brother of Ana Grace
@anagraceproject
#SandyHook
According to
@iiiorg
, property loss from theft is actually on the decline, at only 1% in 2017. On the other hand, fire and lightning losses accounted for 35% of all losses that year and are by far among the costliest insurance risks.
Travelers Cos. is adding a service to its California home and landlord policies intended to help customers prepare their property for a fire.
@Travelers
$TRV
The insurance industry doesn't just protect the public from worst-case scenarios. It also serves as a provider of jobs; an innovator in an ever-changing world; a stimulator of the global economy — all of which cannot be achieved without women at its core.
We asked seven of Travelers’ agents of the year for 2019 to share their thoughts on the trends they’re seeing outside the insurance industry that they expect to have an impact their business or their customers’ needs.
Although Halloween is revered by many for its spooky elements, avoiding risky insurance scenarios is a terror all insureds will want to avoid. As always, being prepared is the first step.
One of America’s most common New Year’s resolutions is to lose weight, and statistics show that pet owners should share that goal with their dogs and cats to avoid costly pet insurance claims.
“If there’s a direct-hit Category 5 storm that hits Miami, you’re going to see 20 insurance companies go bankrupt and are not going to be able to pay claims. It’s become a big problem.”
ICYMI: Cybersecurity was named by 67% of respondents as one of the three risk types that would increase the most in importance, including 40% who named it as number one — far more than any other risk type.
In preparation for the 2019 winter season,
@PCIAA
has drawn up a winter storm preparedness reality check for property owners to take to ensure they are ready.
ICYMI: Despite the rise of InsurTechs and other external disruptors, many insurers are still struggling to initiate, manage and implement innovation beyond making incremental improvements in current systems, products and business models.
Organizations and businesses are turning to meteorologists to gain a deeper understanding of our evolving world, and property and casualty insurance is no exception.
April is Distracted Driving Awareness Month, as designated by
@NSCsafety
, and auto insurers join the national campaign to remind the country that distracted driving crashes can be prevented by modifying driving habits and strengthening auto safety laws.
Thanks, all, for participating in the
#PC360Flood
chat! Please continue to follow the
#PC360Flood
and
#RMSFlood
hashtags to continue the conversation going forward!
While millennials are more likely than older generations to shop for insurance online, more than half purchased their policy through an independent agent.
The hosts of
@OutFrontIdeas
interviewed this year’s winners of National Underwriter’s Excellence in Workers’ Compensation Risk Management Award.
#WCI2019
#workerscomp
ICYMI: "To me, the most important reason to attend any conference is for the networking opportunities. The more people you can meet, the more you enhance your understanding of your profession, your industry and your world." -
@RosalieDonlon
The service “can help us reach and protect more California homes in the event of an emergency,” Michael Klein, Travelers’ president of personal insurance, said in a statement.
@Travelers
$TRV
And that's a wrap! Thanks to our panelists and all of you for joining us today! Use the hashtag
#420InsuranceTweets
to keep the conversation going and to revisit the chat—and for all those who celebrate, have a happy and safe 4/20!
When it comes to workers’ compensation, many issues — both old and new — will determine the market’s outlook. To understand these issues and the ones that will develop in the future, the industry must get out in front and react accordingly.
ICYMI: "If we can support and encourage homeowners to adopt smart home devices and take an active role in upkeep, it will reduce risk and the amount we need to payout for claims and ultimately lead to lower premiums. It’s a true win-win situation."
According to the
@AGCS_Insurance
report, the oil & gas, mining, transportation and food & beverage industries rank highest in risk exposures in terms of managing the Earth’s natural resources or “natural capital.”
Frozen water pipes and the damage they cause are a reality for thousands of people each year. And unfortunately, a burst pipe can cause more than $5,000 in water damage.
.
@RIMSorg
announced that Laura Langone will lead the Society as president for the 2020 term. Langone has been a member of RIMS for 22 years and joined its board of directors in 2016.
The total dollars invested from reinsurers into InsurTech add up to only a small fraction of the reinsurers’ collective balance sheet. However, it is a growing portion, and today represents a majority of the funding in the InsurTech market.
"Work can be viewed as a never-ending list of difficult, repetitive and thankless tasks. Or, work could be viewed as an exciting opportunity to earn distinction and recognition, master skills and have fun while doing it." - Seth Preus,
@RacingSnailInc
A new survey of U.S. adults conducted on behalf of
@PCIAA
found that 70% think the government should establish driving impairment standards for
#marijuana
, similar to the blood alcohol level standards set for drinking and driving.
With record numbers of its employees aging out of the workforce, insurance companies are looking to recruit and hire their successors in all areas, from actuaries and analysts to IT specialists and marketing experts.
#InsuranceCareersMonth
Love them or hate them, electric scooters have become the latest rage in on-demand transportation. How should insurers adapt to address the liabilities that will inevitably arise from the use of these new devices?
How did a U.S. Army veteran discover that a career in insurance could fulfill both a social need and provide a deep sense of accomplishment? Here's the story of Robert Klinger, president and CEO of
@KlingerInsGroup
.
What happens if a cyberattack takes place at a hydroelectric dam? A joint whitepaper by Aon and Guidewire Software examines this scenario and what it would mean for the insurance industry if hackers opened the floodgates.
Insurance organizations should be looking at drones as part of a wider set of disruptive technologies — the Internet of Things, blockchain, and AI — and asking where they will play in the emerging digital ecosystem.
Looking at 2021, the future of TRIA is uncertain, as is how the marketplace might change if the program were to expire on December 31, 2020 — but what is certain is that failure to reauthorize TRIA will cause significant disruption.
ICYMI: What do independent insurance agents want from carriers? According to the latest J.D. Power satisfaction study, positive support, effective communication and straightforward quotes.
Mark Walls of
@safetynational
and Kimberly George of Sedgwick Claims Management Services discuss the latest thinking on ways to reduce the use of
#opioids
in chronic pain management and help injured workers recover more quickly.
As technology delivers greater and greater potential for improving the customer experience and streamlining processes, many insurance carriers are doing some deep thinking on how best to leverage these new tools. Here are the latest trends.
ICYMI: "Will you stay a traditional insurer? Will you redesign so that you can plug into an ecosystem’s value chain? Or will you go as far as to create your own ecosystem?" - Dr. Evangelos Avramakis,
@SwissRe
For the past 20 years, the Chubb Charity Challenge has invited agents, brokers, and clients to golf in regional tournaments hosted by local Chubb branches for the chance to win money for their charities of choice.
@Chubb
#Cyberinsurance
has a lower loss ratio than many other lines of business, and there’s increasing demand for it from the commercial market, but insurers remain wary of turning on the capacity tap. And rightly so, because there’s a sting in the tail.