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Insurance is a knowledge-intensive business. Acquiring this expertise represents a sizeable investment of time and money for both the individual and their employer. That’s why every successful insurance agency needs a robust knowledge management strategy.
- Corporate News
Carrier Management recently sat down with a panel of insurance industry executives assembled by ReSource Pro to discuss the biggest opportunities and challenges ahead for carriers in 2023. Panelists mentioned workforce and operational challenges such as an aging workforce, the hybrid working environment and industry modernization, but also
By ReSource Pro
` Getting a new division up and running quickly can be a challenge, especially in today’s highly competitive talent market. Here’s how a leading third-party claims administrator was able to drive success with the help of ReSource Pro.
` ` In this episode of Kaleidoscope, we discuss the significance, complexity, and evolution of education in the insurance industry.
As insurers and state regulators tally losses from Hurricane Ian, climate experts advise bracing for more intense storms as “traditional” weather patterns shift. To handle claims arising from such CAT events, some states contract with independent adjuster firms to supplement their own rosters. Many still rely on licensing
Checking policies for accuracy and completeness is commonly perceived as an administrative task, with many agencies using policy checking as a training ground for junior and early-career associates. Unfortunately, this scenario is an errors and omissions (E&O) liability claim waiting to happen.
' 2022 is presenting new challenges that are forcing insurers to shift their channel focus—while initiatives remain aggressive, insurers are scaling back and being more cautious as major transformation continues within insurance distribution.
Certificates of insurance are more complex than they appear. Agencies may not realize just how much time, effort, and risk responding to those requests and issuing certificates can entail, making it crucial for agencies to manage the risks and opportunities in the certificate process.
In order to place a risk with a surplus lines carrier, the retail/producing agent involved must complete a diligent effort search. There are a few exceptions to this requirement. The most common “bypass” for the diligent search requirement is the use of a state’s export list.
When businesses think of automation, many envision straight-through processes that occur quickly and without any human intervention, or as a solution that is easy to implement and simple to maintain. Unfortunately, the reality is a bit more complicated.
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