Personal insurance is a type of insurance designed to protect individual and families from financial losses arising from unexpected events impacting their personal well-being, assets or liabilities. P&C personal lines insurers: viewing key strategic initiatives through a new lens
In insurance, physical damage refers to coverage for harm to physical objects, typically vehicles. It provides coverage from the cost of repairing or replacing the object in the event of an accident. Major lines of authority
Policy checking refers to the tasks involved in making sure that the policy is complete and accurate before it is issued to the insured. Expand your resources
Outdoor Property Coverage covers the following specific property: outdoor fences, radio and television antenna (including satellite dishes), signs not attached to buildings, trees shrubs and plants, and the debris removal expense of the above coverage. Is your insurance organization prepared for disaster?
Loss exposures, also simply called exposures, are situations that could lead to an accidental loss. Loss control: a hidden opportunity for carriers
Managers are individuals responsible for the maintenance, administration and management of the affairs of a limited liability company (LLC). Managers usually do not hold a percentage of ownership in the company. Annual returns: when and what to file 7 ways agents and brokers can reduce e&o risk
A Managing General Agent is a specialized type of insurance agent/broker that, unlike traditional agents/brokers, is vested with underwriting authority from an insurer. Accordingly, MGAs perform certain functions ordinarily handled only by insurers, such as binding coverage, underwriting and pricing, appointing retail agents within a particular area, and
Insurtech refers to the usage of technology to innovate and improve the insurance industry. The term is a blend of “insurance” and “technology.” Insurtech companies develop solutions and applications to address inefficiencies and limitation in traditional insurance models to streamline processes, personalize products and enhance customer experiences within
Intelligent Document Processing (IDP) is a technology that extracts information from documents in various formats. It scans, reads, extracts, and organizes structured, semi-structured, and unstructured data from various file types and sizes, including documents, spreadsheets, and PDFs. ITC 2023 trends and takeaways: it’s all about focus
The Internet of Things (IoT) is the network of connected physical devices embedded with sensors, software and other technologies that connect and exchange data over the internet. Examples of IoT devices used in insurance include vehicle sensors, water leak sensors, smart security sensors, fitness trackers, property inspection drones,
