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

Self-driving Cars

The Insurance Impact of Self-driving Cars and Shared Mobility – Tech Crunch

“We’re going to see more change in the next five to 10 years than we’ve seen in the last 50,” said Mary Barra, CEO of General Motors, on record. While that statement is now a year old, it continues to ring true. Vehicle ownership is changing and self-driving cars will be implemented in the next decade. What will affect the insurance industry more: self-driving cars or shared mobility?

Property insurance

Understand the Basics of Property Insurance before Buying One – Infographic

When you buy a property, one of the major concerns that you have is, “how to protect it from all the damages?” Usual wear and tear can be taken care of but what if there’s an earthquake? Damages from such calamities are so huge that you aren’t able to recover the same for a long period of time.

Social Media Sharing

Can Insurance Premiums be Affected for Active Social Media Shares?

Recently a leading British Insurer, Admiral Insurance, announced that it would assess the behavior of auto insurance clients based on their posts on social media. Although a lot of companies use search history to recommend products to customers, not many are using tweets & posts to assess personalities for tweaking products. This scrutiny on personal data might start a discussion about privacy but eventually, organizations would analyze personal data to customize products for individual clients.

digital insurance

The Four Pillars Of Digital Insurance – Digitalist Magazine

Digital disruption is transforming the insurance industry, and traditional insurers need to reimagine their business to survive. But saying it is one thing; doing it is an altogether tougher proposition. That’s why we’ve built a structured framework that helps insurers assess how they can move from their current position to become a digital organization. And it’s based on four key pillars.

Auto Claims

Auto Claims Satisfaction Study Reveals Low Preference for Digital Channels

According to the J.D. Power 2016 U.S. Auto Claims Satisfaction Study, customer satisfaction with respect to auto claims process is rising amongst all age groups barring the Generation X. In the last year’s survey, satisfaction levels were low amongst the Gen Y clients however, it has risen over the year.

Digital Technology

Digital Technology is Expected to Transform the Insurance Sector – Survey

The advent of digital technology has created tremors in every other industry leading to a complete overhaul in how services are delivered. Traditional business models have been revamped to incorporate the digital element for better customer satisfaction and operational efficiency.