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

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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.

millennials-as-agency-owners

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 […]

usage-based-insurance-gane-changer

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.

usage-based-insurance-ihs

Usage based insurance subscribers will reach 142 million globally by 2023: Report

  In a report by HIS, it was noted that in 2015, close to 12 million consumers globally subscribed to usage based insurance and the number will reach 142 million globally by 2023. The research is based on more than 40 interviews from across the value chain, from insurance carriers, data aggregators, telecommunications companies, to automotive OEMs. Below are the key highlights of the survey: 1) Italy is the only country in which UBI has […]