In part one, we shared several E&O prevention best practices that agencies can apply prior to binding coverage. In this post, we’ll discuss what agencies can do to protect themselves during certificate issuance.
Certificates of insurance are a vital and often urgent deliverable for insurance customers. But for insurance agencies, they can be a stressful interruption and a potential source of errors and omissions (E&O) risk.
The insurance industry continues to find itself in a talent crisis. The workforce challenges we are facing are not entirely new. Some of them are the lasting impact of the pandemic, while others have come and gone over time as the result of a changing world.
Lean process mapping is a Lean management tool that involves breaking a process into step-by-step instructions and creating a flowchart to identify areas where work can be streamlined or eliminated. It enables businesses to boost quality, efficiency, and communication; ultimately improving customer experience.
Once a business registers with the Secretary of State’s Office in a domicile or foreign jurisdiction, it needs to keep that information current.
It’s common for various business types to have different filing requirements and deadlines—even within the same jurisdiction.
Fatima Dean, Director of Client Development, wrote for Insurance Journal about how technology is impacting underwriting and how underwriters can adapt.
Governance is a critical part of any business, whether it’s a small startup or a global enterprise. A solid governance structure can have a range of benefits, from attracting investors to ensuring a business stays on course during a crisis, or even helping create strategies for continued growth and resilience.
There are three ways insurance companies are and can leverage the power of AI: automation, augmentation, and action – the three “As.” However, there remain concerns over the use of AI in insurance, including data privacy concerns, ethical issues, and its ability to ensure fair decision-making.
ReSource Pro Consulting’s Mark Breading sat down with a panel of several other industry leaders to talk about the profound impact of new technologies on the insurance workplace. In this blog, we’ll recap Mark’s answers to key questions surrounding technology, including the impact of AI on insurance roles, the risks associated with tech, and more.
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Technology, changing customer expectations, and economic challenges are reshaping insurance distribution. Our latest research offers insight into retail agencies’ current channel partnerships, future channel plans, and expectations for changes to distribution in both commercial and personal lines.
From the changing behaviors and expectations of the future customer to the shifting global issues around climate and geopolitical risks, the insurance industry will need to adapt to the intensifying challenges in order to keep pace and succeed in the insurance world of 2035. Here are the trends that will shape the industry as we know it.