Types of insurance

Best’s Market Segment Outlook: Southeast Asian Reinsurers Look to Life and Health for Growth

Tuesday, October 20, 2020 - 1:00am

A new Bests Market Segment Report, titled, Southeast Asian Reinsurers Look to Life and Health for Growth, states that many domestic reinsurers in Southeast Asia posted solid premium growth in 2019, although these increases generally did not translate to favorable underwriting results.

Key Points: 
  • A new Bests Market Segment Report, titled, Southeast Asian Reinsurers Look to Life and Health for Growth, states that many domestic reinsurers in Southeast Asia posted solid premium growth in 2019, although these increases generally did not translate to favorable underwriting results.
  • Given that the penetration of health insurance remains very low, AM Best expects the growth in this segment to continue to outpace other classes of business in the region.
  • Overall, this rise in demand for life and health insurance has helped domestic Southeast Asian reinsurers to counter the strong competition from global reinsurers.
  • In addition, the margins in the retail health and life segment are often too slim to attract enough interest from global reinsurers.

Insurance Companies Created Home Insurance Crisis, Consumer Watchdog Testifies at Department of Insurance Wildfire Hearing

Monday, October 19, 2020 - 9:45pm

Require insurance companies to lower the insurance premiums of policyholders and communities who harden their homes against wildfire, such as modernizing roofing and building materials, installing sprinklers, and clearing brush.

Key Points: 
  • Require insurance companies to lower the insurance premiums of policyholders and communities who harden their homes against wildfire, such as modernizing roofing and building materials, installing sprinklers, and clearing brush.
  • Require insurance companies to disclose the fossil-fuel related companies they invest in and underwrite, and issue regulations requiring insurance companies to include all direct and indirect costs of risks involving fossil fuels when pricing insurance coverage.
  • - Insurance companies have gotten every justified increase they have requested under Proposition 103, according to data from the Department of Insurance.
  • 103's authority to challenge unjustified insurance rates and premiums, Consumer Watchdog has exposed insurance companies' decisions not to provide premium discounts for homeowners who harden their homes against wildfire.

Suracy Insurance Agency Selects Exactuals’ PaymentHub for Insurance

Monday, October 19, 2020 - 4:15pm

LOS ANGELES and CLEVELAND, Oct. 19, 2020 (GLOBE NEWSWIRE) -- Exactuals , a top provider of cloud-based payment and metadata solutions to the insurance, entertainment, and music industries, is pleased to announce that Suracy Insurance Agency, Inc. (Suracy) has recently selected the companys PaymentHub for Insurance digital payments platform to modernize Suracys ability to process payments and provide insights via reporting to internal and external partners and customers.

Key Points: 
  • LOS ANGELES and CLEVELAND, Oct. 19, 2020 (GLOBE NEWSWIRE) -- Exactuals , a top provider of cloud-based payment and metadata solutions to the insurance, entertainment, and music industries, is pleased to announce that Suracy Insurance Agency, Inc. (Suracy) has recently selected the companys PaymentHub for Insurance digital payments platform to modernize Suracys ability to process payments and provide insights via reporting to internal and external partners and customers.
  • Suracy, an independent insurance agency headquartered in Cleveland, Ohio, provides robust business insurance solutions across the country to support franchises, small and larger businesses, religious institutions, and other organizations.
  • The PaymentHub for Insurance platform streamlines and digitizes insurance payments and offers commission, claims and vendor payment processing, reporting and analytics capabilities, and online engagement tools for insurance companies, brokers, third-party administrators (TPAs), provider networks, and producers.
  • Currently serving the entertainment and online marketplace industries, Exactuals is now making its PaymenthHub available to other industries, starting with insurance.

New Research from MDGO Reveals Drivers Willing to Switch Auto Insurance Providers for Enhanced Safety and Experience When an Accident Occurs

Monday, October 19, 2020 - 2:01pm

MDGO , a leading provider of accident detection and response (ADR) technology, today announced new research revealing consumers expect an enhanced customer experience with automated services from insurers.

Key Points: 
  • MDGO , a leading provider of accident detection and response (ADR) technology, today announced new research revealing consumers expect an enhanced customer experience with automated services from insurers.
  • In fact, more than half of consumers (64%) would switch insurance providers if a carrier had the technology to help save lives in the event of an accident.
  • 78% also said they would prefer detailed accident information was available that could be shared directly with their insurance company to report an accident or during the claims process.
  • The research also found that 78% of respondents would be willing to share accident data in the event of a wreck to improve their overall experience.

iHerb Announces 100% Employer Paid Monthly Medical Premiums

Monday, October 19, 2020 - 2:00pm

With the launch of iHerb's Purpose and Shared Values, iHerb wanted to empower their team members to enhance their health, happiness and well-being.

Key Points: 
  • With the launch of iHerb's Purpose and Shared Values, iHerb wanted to empower their team members to enhance their health, happiness and well-being.
  • As a result, starting in 2021, iHerb is thrilled to announce that it will cover 100% of the monthly medical premium cost for their eligible team members and families.
  • "When we were told that premiums for medical benefits would increase, I understood it could bring another burden to an already tumultuous year.
  • iHerb joins a very small, select group of companies that offer 100% employer-paid medical premiums placing them in the forefront of the industry and continues to make iHerb a major competitor in the marketplace.

Liberty Mutual Selects CoreLogic for Deployment of New Property Estimation Platform

Monday, October 19, 2020 - 1:00pm

CoreLogic (NYSE: CLGX), a leading global property data and analytics-driven solutions provider, today announced that Liberty Mutual Insurance, a global leader in the property and casualty insurance market, has selected CoreLogic for deploying a next-generation, cloud-based property estimation platform to further position itself as a leader in the property insurance market.

Key Points: 
  • CoreLogic (NYSE: CLGX), a leading global property data and analytics-driven solutions provider, today announced that Liberty Mutual Insurance, a global leader in the property and casualty insurance market, has selected CoreLogic for deploying a next-generation, cloud-based property estimation platform to further position itself as a leader in the property insurance market.
  • Liberty Mutual will migrate to CoreLogics cloud-based insurance hub, marking a major investment in technology.
  • The insurance hub uses an open architecture and industry-leading API framework, making it easy for Liberty Mutual adjustors to connect to a host of innovative third-party InsurTech solutions.
  • Our long-term collaboration with Liberty Mutual demonstrates our ability to unite all parts of the insurance supply chain on one cloud-based platform.

A New Guide Explains How Can Insurance Agents Help Drivers Find Advantageous Policies

Sunday, October 18, 2020 - 5:10pm

LOS ANGELES, Oct. 18, 2020 /PRNewswire-PRWeb/ --Many people still rely on car insurance agents to help them to obtain the right car insurance coverage.

Key Points: 
  • LOS ANGELES, Oct. 18, 2020 /PRNewswire-PRWeb/ --Many people still rely on car insurance agents to help them to obtain the right car insurance coverage.
  • It's important for drivers to know the role of insurance agents and see if the services they provide are necessary or valuable for them.
  • Drivers that choose to work with insurance agents won't have to worry to check if their insurance meets the legal requirements.
  • Most insurance agents will present to their customers the minimum legal requirements for insurance.

What Are The Main Reasons Drivers Should Use Online Car Insurance Quotes?

Saturday, October 17, 2020 - 5:10pm

For more info and free car insurance quotes online, visit https://compare-autoinsurance.org/why-drivers-should-online-car-insuranc...

Key Points: 
  • For more info and free car insurance quotes online, visit https://compare-autoinsurance.org/why-drivers-should-online-car-insuranc...
    Living in the age of the Internet has certain perks and advantages.
  • Drivers who want to get coverage or to switch carriers should use online car insurance quotes.
  • The user has to fill up an online form and will get multiple insurance quotes from insurance companies available in his area.
  • For more details and free online quotes, please visit http://compare-autoinsurance.org
    Compare-autoinsurance.org is an online provider of life, home, health, and auto insurance quotes.

SBLI Increases Coverage to $750K for All Risk Classes With Contactless Digital Underwriting Process

Thursday, October 15, 2020 - 4:30pm

SBLIs Accelerated Underwriting process now guarantees that no in-person contact is required for all clients ages 18-60 seeking $750,000 or less of life insurance.

Key Points: 
  • SBLIs Accelerated Underwriting process now guarantees that no in-person contact is required for all clients ages 18-60 seeking $750,000 or less of life insurance.
  • SBLI is the only life insurer to make such a process available for all medical risk classes.
  • SBLI is pleased to offer our unique process to a wider audience with this increase to $750,000 of coverage, said James Morgan, President and CEO of SBLI.
  • During this time, our contactless Accelerated Underwriting process provides peace of mind and convenience for clients, simplicity for agents and speed for all.

Zurich adds medical stop loss product for national carrier-administered programs

Thursday, October 15, 2020 - 2:37pm

SCHAUMBURG, Ill., Oct. 15, 2020 /PRNewswire/ --Zurich North America is launching a medical stop loss insurance offering for larger employers with self-funded group health plans administered by national carriers.

Key Points: 
  • SCHAUMBURG, Ill., Oct. 15, 2020 /PRNewswire/ --Zurich North America is launching a medical stop loss insurance offering for larger employers with self-funded group health plans administered by national carriers.
  • The new admitted product is the result of a collaboration with Medical Risk Managers (MRM), a program administrator based in South Windsor, Connecticut, that specializes in writing medical stop loss in this space.
  • That helped Zurich finalize the arrangement and launch the offering ahead of the typical January peak period for writing medical stop loss coverage.
  • Use of other MRM products and services is independent of, and not included within, the Zurich Medical Stop Loss Insurance Policy, or any other Zurich product or service.