PCIT PLUSNews and Updates in the Property & Casualty Insurance Industry – A KMG Initiative

Cyber-security-in-insurance

Cyber Security in Insurance

  Cyber security insurance is designed to mitigate losses from a variety of cyber incidents, including data breaches, business interruption, and network damage attack. In the last few months, we’ve seen massive breaches at major organizations.

Insurance-Agencies-Unable-To-Meet-Customer-Expectations--Report

Insurance Agencies Unable To Meet Customer Expectations: Report

  Insurance agencies and independent brokers are getting overwhelmed over meeting the expectation their clients are expecting nowadays, reveals a join report from Market Insight Group and Applied Systems.

Want-a-DiscounShare-At-The-Price-Of-Privacy

Want a Discount? Share At The Price Of Privacy!!

  Exercise Regularly, Eat Healthy, De-stress, score a good discount! Insurance is a tricky business because companies don’t know you personally. They charge you premiums based on your age, gender, basic habits and past insurance use, and that’s about it. The discount in insurance is a fairly new concept in the US.

reaching-the-millenial-consumers

Reaching The Millennial Consumers: Infographic

  Millennials form the largest generation and fastest-growing consumer and employee-base in the United States, totaling at 76.6 million. According to the U.S. Census Bureau, they account for $1.6 trillion in purchasing power. Agencies are developing new ways to attract, convert and retain millennial consumers as they will have an influential impact on the organization’s profitability, both now and in future.

Trends-Reshaping-the-Insurance-Technology

Trends Reshaping the Insurance Technology Industry

  The way Industrial Revolution reshaped manufacturing centuries ago, the Internet Revolution has transformed insurance. People who once bought all their life, property, and casualty coverage through paper-based transactions are now shopping for and buying insurance products using tablet computers and smartphones.

Shopping-Bag-Full-of-Insurance-Policies

Shopping Bag Full of Insurance Policies

  Milk…check; Eggs…check; Bread…check; insurance…wait, what? With the advent of new sale strategies in the past, Insurance sellers have come up in an all new alternative way to sell insurance via local departmental stores. Wandering the aisles of the local hyper-mart in suburban Georgia, US or browsing the checkout counter at a Lima, Peru supermarket, you’ll be surprised to find insurance sold alongside butter, detergent and diapers.