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

Cyber-Security-Big-Concern-for-Insurance-Data

Cyber Security : Big Concern for Insurance Data

  With the use of technology in Insurance and the industry growing at such a rapid rate, there is an urgent need to look into the security of data. Insurance more than any other industry is dependent on its client database; as the consumer information is now being stored in electronic form, the requirement to keep the data secure has grown. Â

Claims-Management-Challenges--Solutions

Claims Management : Challenges & Solutions [Infographic]

  Claims management is the biggest headache of any insurance company and insurer, with the use of technology things have got better but the industry still faces challenges.  With the top three challenges being big data, talent and management of cost.

The-Role-of-Big-Data-in-the-Changing-Insurance-Industry

The Role of Big Data in the Changing Insurance Industry – iamwire

Insurance companies need to adjust their methods for charging for claims in a way that is in line with the current markets. When a company gets hundreds of thousands of records, a system to manage, filter and process those records becomes essential. This is where Big Data comes in. By creating a platform that can quickly analyze large amounts of data, insurance companies can make more effective claims and ensure greater profits.

Big-Data-the-Next-Game-Changer

Big Data : the Next Game Changer

  Big data has the potential to make many old insurance practices redundant, to the point that all the companies lagging behind in the process are likely to face the heat.  Both agents and carriers are trying to improve the ways to capture data to allow them to manage their business better and not just the business but the risk and the consumers. With the instances of frauds and embezzlement of money running high, companies […]

Driverless-Cars-Concerns-Ahead

Driverless Cars: Concerns Ahead

In our previous post on driverless cars, we talked about how driverless cars can alter insurance and there are many concerns that need to be solved and there are many hurdles ahead of us before the driverless cars are rolled out for general use.

Less-than-one-third-of-insurance-customers-are-satisfied-

Less than one-third of insurance consumers are satisfied with their current providers – Accenture

In a report by Accenture, it was revealed that less than 29% (one-third) of insurance customers are satisfied with their current providers and as few as 16 percent are sure to buy more from them. This study based on Accenture’s Global Consumer Pulse Research, which included more than 13,000 P&C and life insurance consumers in 33 countries.  The survey which covered some 23,000 respondents globally, was conducted over the Internet last year. Results showed less than […]