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

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HERE’S HOW INSURANCE AGENTS CAN WEATHER TECHNOLOGY GAP!

The insurance landscape is changing at a rapid pace. More and more insurance companies are embracing the latest technologies, be it robotic process automation or predictive analytics.

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TELEMATICS – A GAME-CHANGER IN ROAD SAFETY

It’s no longer a secret that telematics is one of the biggest game changers in the way insurance industry functions. Telling someone to drive safely is quite meaningless, if without specifics. With telematics, insurance companies can now actually show drivers the way they operate their vehicles and what specifically they should do to improve their driving habits.

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ARTIFICIAL INTELLIGENCE HAS MADE INSURERS LIFE EASIER – HERE’S HOW!

For most people, contacting an insurance company isn’t among their favourite activities. The industry is known to have a bad reputation regarding customer experience. Customers often come disappointed and dissatisfied after their interactions with an insurance executive.

Digital Technology

Advanced Analytics and the Future of P&C Insurance: Infographic

A recent P&C Insurance Advanced Analytics survey conducted by Willis Towers Watson shows that insurers plan to adopt newer technology like advanced analytics, machine learning and Artificial Intelligence (AI) in the coming years.

Millennials

How are Millennials Changing the way Carriers and Agents Collaborate

Tech-savvy Millennials are one group of customers who are least engaged with their insurers and prefer to buy policies online, as per a 2015 poll by Gallup. In the US, this age groups’ population dominates the market, which is a large client-base for insurers. These demographics are alarming for insurers who are now being pushed to differentiate and strategically partner with agents to satisfy the needs of this generation.

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.