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

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.

Homeowners Insurance

10 events homeowners insurance doesn’t always cover – AoI

If you own a home, you most likely have homeowners insurance (it’s typically required to secure a mortgage). You know your insurance policy covers your home and the possessions inside it in the event of a fire or theft, but you may not realize there are many things which are not covered by your homeowners insurance.

Homeowners Insurance

Homeowners Insurance Advice Echoed By Professionals – ValuePenguin

Most people will never file an insurance claim for their home. Only 5.3% of all homeowners insurance policyholders filed a claim in 2014. The chances are slim, but everyone should understand the claims process and be able to determine if they need to file a claim in the first place.

drones

Drones make it easier to inspect buildings for property insurers

Those who work in the property insurance business know that inspecting buildings for underwriting and claims is not only time-consuming but also hazardous. In addition, one needs to be highly knowledgeable about buildings and its intricacies to understand the risk and calculate possible damages.

value-of-vehicles-telematics-claims

As Insurers See Value of Vehicle Telematics in Claims Handling, Access to Data Could Change – Claims Journal

By 2025, 104 million new cars are expected to have some form of connectivity, according to a report on telematics by Ernst & Young. Because customers have more control, telematics offers the potential for better risk management and more consumer touch points, the report stated. In addition, as insurers gain access to more detailed data they will need to develop strong partnerships with auto makers, the report noted.