Today ReSource Pro Insights, our research practice, announces a big milestone: the release of our 300th published research report, “Embedded Insurance: Disruptor or Distraction?”
From warranties to travel insurance, embedded insurance has been around for decades, but its potential impact is now being widely recognized.
The artificial intelligence (AI) landscape has changed significantly over the past year, presenting both fresh opportunities and new challenges to the property & casualty insurance industry. As AI continues to evolve, especially through advancements like GenAI, insurance companies must create strong governance frameworks to keep AI use transparent and ethical.
Meredith Barnes-Cook emphasizes InsureTech Connect 2023 pivotal theme – Focus. From CX to OpEx balance, AI as a toolkit, narrower product focus, collaborative partnerships, to transformative back-office automation, the industry shifts with an eye on efficiency.
At InsureTech Connect 2023 in Las Vegas, generative AI dominates discussions. Amidst this, four contrasting observations portray the insurance industry’s uncertain future. The balance teeters between positive and negative outcomes, leaving the direction uncertain. Success hinges on adaptability, responsible innovation, and strategic vision.
Please join us in warmly welcoming Meredith Barnes-Cook, who brings almost four decades of insurance experience to her new role as Advisory & Research Partner. She brings invaluable insights into operations, tech, and transformation driving innovation for carriers, MGAs, and vendors.
For P&C commercial lines carriers, data-driven decision-making and predictive models have been sought as a competitive edge. Yet, the challenge lies in collecting and maintaining structured data for model training, leading to manual processes and difficulty in staying up-to-date.
In a recent interview with Modern Insurance Magazine, ReSource Pro’s Meredith Barnes-Cook, Consulting Partner, discussed about the impact of technology on the insurance landscape and the evolving expectations of insurance customers. Here’s a recap of her key insights.
Former Navy Rear Admiral John Spencer, now Senior Director of U.S. Operations at ReSource Pro, brings unique operational expertise to the insurance industry. Discover his journey from the Navy to insurance and his commitment to problem-solving and supporting growth.
ReSource Pro transformed a struggling small business unit for a top-30 U.S. insurance broker. High attrition and workflow issues led to profit loss. With our Premier Service, we boosted capacity by 85%, increased revenue retention by 7%, and enhanced direct margin by 15%.
In the insurance sector, many businesses opt for C corporations or LLCs. These entities can leverage the Internal Revenue Code’s provision, known as an S-election, to pass income, losses, deductions, and tax credits to individual owners, avoiding double taxation of business income.
Many leaders and carriers rely on qualitative assessments instead of data-driven analysis to gauge productivity and plan their workforce. The alternative is implementing capacity management to accurately assess workload capacity and make informed decisions.