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

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6 TECHNOLOGY TRENDS THAT WILL DEFINE THE FUTURE OF CAR INSURANCE in 2019

Recent technology trends are changing the way that customers interact with a business. Traditionally, car insurance was dependent on the likes of an insurance agent, the claims team and a simple helpdesk.

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AUTONOMOUS CARS – THE REVOLUTION HAS BEGUN!

Imagine taking a seat in your car, updating a location in your vehicle’s interface and then letting it drive to your destination while you surf the web, take a nap or read a book. Car manufacturers around the world have been attempting to design the first-ever driverless car.

Legacy-migration

Lessons learned in legacy migration shape its future

  An organization that decides its legacy applications are too inflexible or costly may turn to legacy migration as a solution. With a brisk speed and low operational risk, legacy migration is an effective, affordable method of preserving operational efficiency.

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Agency Transformation – 2050

  Boomers and Generation X is aging and soon will be retiring. According to the prediction by the U.S. Bureau of Labor Statistics, Millennials will take over the majority representation of the workforce and by 2030 they will make up for 75% of the workforce. Generation Y will soon be agency owners and the onus on them will be to understand the pulse of the consumers of the same mindset (Gen Y) as well as […]

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Usage-based insurance is changing the game

  If insurance companies – both the traditional and non-traditional sort – are going to overcome millennial disinterest in insurance overage, they’re going to have to do it with technology. Engaging millennials with revolutionary, highly personalized and peer-to-peer platforms is the insurance industry’s biggest priority if it is going to survive this century.

cyber-insurance

30 percent of businesses do not have any level of cyber insurance coverage: Report

  In a report by The Hartford Steam Boiler Inspection and Insurance Co. (HSB), it was noted that 30 percent of businesses do not have any level of cyber insurance coverage.  The cyber poll was conducted by in-person interviews with 102 risk managers at the Risk and Insurance Management Society Conference (RIMS) in San Diego in April.