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How Smart Homes Are Changing Insurance

How Smart Homes Are Changing Insurance

Smart homes offer a vast array of benefits in: risk mitigation and prevention, data collection and analysis, personalized premiums, faster claims processing, home monitoring services, liability coverage, premium discounts, the environment and health and wellness.
September 6, 2023 Insurance Industry Technology

The Future of Insurance According to Prominent Industry Leaders

The Future of Insurance According to Prominent Industry Leaders

In a study involving hundreds of prominent insurance leaders, Waterstreet has revealed a compelling vision of the future of insurance, shedding light on the transformative impact of insurtech innovations, artificial intelligence (AI), machine learning, and blockchain on the industry landscape.
August 30, 2023 Insurance Industry Technology

Are Cities in a ’Doom Loop’?

Are Cities in a ’Doom Loop’?

A question that has been rattling around in my head for a while crystallized for me this morning when I read that a famous Nordstrom had closed in the heart of San Francisco.
August 30, 2023 Insurance Industry

Farmers Insurance to Streamline Workforce, Cut 2,400 Jobs

Farmers Insurance to Streamline Workforce, Cut 2,400 Jobs

Farmers Insurance has unveiled a series of strategic measures aimed at fostering long-term profitability, growth, and enhanced organizational efficiency.
August 30, 2023 Insurance Industry

Addressing the Great Resignation and Its Effects on Workplace Safety

Addressing the Great Resignation and Its Effects on Workplace Safety

It's a tale as old as 2021: millions of employees across the United States are quitting their jobs each month, whether to pursue remote work, to capitalize on higher wages offered in response to shrinking applicant pools, in an attempt to finally turn their passion into a career, or simply to retire.
August 29, 2023 Insurance Industry Risk Management

What to Expect in Industry 4.0

What to Expect in Industry 4.0

We love to think about disruption as simply a modern-day term. Yet four historic industrial revolutions offer ample evidence that disruption occurs far more frequently than we might ever imagine.
August 28, 2023 Insurance Industry Technology

California’s Fire Insurance Woes Ignite Political Reckoning

California’s Fire Insurance Woes Ignite Political Reckoning

The slow-motion collapse of California's wildfire insurance market is about to force a political reckoning.
August 25, 2023 Insurance Industry Property California

Turmoil in Florida: Triple-I Warns of Imminent Insurer Insolvency

Turmoil in Florida: Triple-I Warns of Imminent Insurer Insolvency

Another Florida homeowners' insurer insolvency could be on the horizon, and it could be the biggest the state has seen this year, according to the Insurance Information Institute (Triple-i).
August 24, 2023 Insurance Industry Florida

Another Round of Layoffs at GEICO

Another Round of Layoffs at GEICO

Insurance company GEICO has undergone another tranche of layoffs, employees have reported on social media.
August 24, 2023 Insurance Industry

Top 10 Challenges for Insurers

Top 10 Challenges for Insurers

Insurance companies are grappling with a range of challenges that require them to adapt and innovate to stay competitive in the ever-evolving industry. From emerging technologies to changing consumer expectations, insurers are facing a complex landscape that demands their attention.
August 23, 2023 Insurance Industry

Turning Challenges Into Opportunities

Turning Challenges Into Opportunities

The insurance industry is rapidly evolving, and the adoption of new technologies is spreading from underwriting departments to claims. As a new landscape emerges, carriers face new risks and challenges, but there are also opportunities for claims departments that prioritize, strategize, and implement new methods effectively.
August 21, 2023 Insurance Industry

More Insurers Withdraw from California Homeowners Insurance Market

More Insurers Withdraw from California Homeowners Insurance Market

Two more insurance companies will exit the California homeowners market, further narrowing options for people seeking to insure their home or to purchase a house with a mortgage.
August 17, 2023 Insurance Industry Property California

New Property Insurer Approved for Florida; Citizens to Reduce Coverage by Nearly  300K Policies

New Property Insurer Approved for Florida; Citizens to Reduce Coverage by Nearly 300K Policies

Florida's Office of Insurance Regulation (OIR) this week granted authorization to Mainsail Insurance Company, a property and casualty insurer headquartered in Texas, to function as a domestic insurer within the state.
August 17, 2023 Insurance Industry Legislation & Regulation Property Florida

Causes of Home Insurance Crisis

Causes of Home Insurance Crisis

Across the country, homeowners are facing heavier financial burdens when it comes to securing the coverage they need to protect their property and belongings. Rising homeowners insurance rates are making budgets tighter for millions of American households.
August 16, 2023 Insurance Industry Property

Michigan’s Biggest Insurers Must Respond to Climate Risk Disclosure Mandate

Michigan’s Biggest Insurers Must Respond to Climate Risk Disclosure Mandate

The insurance industry has been deeply shaken by the impacts of climate change, leading to substantial payouts across the nation. This trend has prompted a new regulatory requirement in Michigan, specifically targeting larger insurance firms, to openly disclose their climate change vulnerabilities and strategies for mitigation.
August 8, 2023 Insurance Industry Michigan
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