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Cyber FICO Ratings Could Benefit Insurance Underwriting in Multiple Ways
Nearly 30 years ago the Fair Isaac Corporation ("FICO") first introduced its metric for measuring creditworthiness. Since then, the FICO Score has become a default metric used by countless market ...
6 Qualities of a Strong Insurance Leader
Sometimes leadership sneaks up on us. It starts out with our volunteering on a committee or speaking up at a meeting. Someone may nudge us at first, giving us encouragement. Or perhaps we raise our ...
The Act of Automation: Proven Technologies Streamline Reconciliation and Reduce Risk
As InsurTech makes slow but steady inroads in the insurance industry, the focus is now on cutting inefficiencies and streamlining workflows—things that can be done today with proven technologies ...
Want Innovation? Don’t Aim at Distribution
Having spent the better part of the last decade learning, practicing and, in many ways, participating in the creation of innovation as the new discipline in business, I've come to the conclusion that ...
When to Use Chatbots in Insurance
New technologies generate a great deal of excitement, and there's a positive buzz right now about the potential impact of artificial intelligence, machine learning and automation in the insurance ...
Alive and Well: Reports of the Death of the Independent Agent Were Greatly Exaggerated
When I began my career as a journalist covering the insurance industry back in 1981, many of my early stories reported on dire warnings in a series of studies and expert pronouncements predicting the ...
Captive vs. Independent Agents: Carriers Are Committed to Multiple, Evolving Distribution Channels
Despite the grim outlook forecasted for U.S. agents in a 2013 report by McKinsey & Company, both captive and independent agents remain a viable segment of carrier distribution channels. Even with ...
The Future of Small Business Insurance Distribution: What Can We Expect?
In the United States today, there are almost 28 million small businesses, all requiring a wide array of insurance coverage to confidently conduct daily business. Insuring these businesses has always ...