The COVID-19 situation has taken everyone by surprise; from the healthcare highly pressurized medical industry to the oil and gas industry, and everything in between. With everything that’s going on, it is no wonder that the insurance sector has also seen its share of uncertainties and problems.
Apart from the healthcare industry, one of the core sectors that have amplified their importance during the harsh times brought upon by the COVID-19 pandemic is the insurance sector. It has proven itself as a core player in the development and resilience of the economy throughout the US.
Insurance fraud is one of the leading causes of financial instability and stress for families all over the United States. According to the FBI, insurance scams end up costing somewhere between $400 to $700 per annum to the average American family on insurance premiums.
In 2016, there were more than 1,800 fraudulent insurance claims which put strain on insurance fraud investigators’ already strenuous job. According to a report by the State of Insurance Fraud Technology, this figure increased exponentially from 2016 to 2018.
The entry of insurance technology in the insurance value chain has come with a lot of benefits for all stakeholders involved. For insurance companies, embracing insurtech is the right way to satisfy the expectations of their clients. If you haven’t integrated digital tools in your business, here’s your time to do so. In this article, we’ll have a quick look at the things that you must consider when choosing insurtech technology for your business.
What will happen to your asset after you die? This is a major concern for a large number of people. To ensure that your assets remain protected and are distributed to their legal heirs, you should effectively plan to protect your assets. And while most people do the arrangements for the protection of tangible assets, they conveniently forget to secure their digital assets. Here, we will learn how you can protect all forms of assets and secure the future of your family.
You are the sole breadwinner of your family and running your household with your regular income. You are working hard to keep your family happy and satisfied. Have you ever considered what would happen to your happy family in case of your unexpected death or your life-long disability? Have you thought about legacy planning at all?
In the current digital age, having an online presence is crucial to all organizations. The advent of insurtech in the insurance industry has helped many organizations scale their operations and grow their customer base. Therefore, insurance digital marketing is a great way to take your business to the next level.