Insurability

Sun Life U.S. to sponsor and exhibit at 2023 Workday Rising

Retrieved on:

Monday, September 25, 2023

HR, Artificial intelligence, Life, ML, Disability, Sun Life Financial, Machine learning, EOI, Automation, Insurability

WELLESLEY, Mass., Sept. 25, 2023 /PRNewswire/ -- Sun Life U.S. will sponsor and exhibit at Workday Rising, a four-day event in San Francisco starting tomorrow, which will feature Workday's newest innovations in AI (artificial intelligence) and ML (machine learning) among its extensive community of customers and partners.

Key Points:

WELLESLEY, Mass., Sept. 25, 2023 /PRNewswire/ -- Sun Life U.S. will sponsor and exhibit at Workday Rising, a four-day event in San Francisco starting tomorrow, which will feature Workday's newest innovations in AI (artificial intelligence) and ML (machine learning) among its extensive community of customers and partners.
Sun Life offers real-time absence connectivity, including intermittent leave management, which syncs calendars for scheduled leaves, and results in fewer errors, less manual work for HR, and easier navigation for managers.
In addition to absence management, Sun Life offers a robust suite of digital solutions that create connectivity with clients and provide a more seamless, automated benefit management experience.
Automated billing – Details are collected directly by Sun Life for instant, secure premium calculations, and automation of the billing process.

Foresters Financial announces 4.75 percent UL crediting rate, one of the highest rates industry wide

Retrieved on:

Tuesday, June 21, 2022

This increase positions SMART UL as offering one of the highest rates in the life insurance industry.

Key Points:

This increase positions SMART UL as offering one of the highest rates in the life insurance industry.
Foresters Financial US President, Matt Berman, said, "In short order, we shifted from a low interest-rate environment to one defined by inflation that's taking a toll on everyone, including our SMART UL certificate holders.
Foresters Financial is quietly transforming the life insurance industry across the U.S. and Canada by enriching the lives, communities, and overall well-being of its members.
Foresters Financial is the trade name for The Independent Order of Foresters, the oldest non-denominational fraternal benefit society.

DALBAR: These 5 Firms Are at the Top of the Charts for Online Group Benefits Administration

Retrieved on:

Tuesday, May 24, 2022

MARLBOROUGH, Mass., May 24, 2022 /PRNewswire/ -- DALBAR congratulates the top five firms boasting the most efficient and user-friendly plan administration portals during our 2022 group benefits employer website study.

Key Points:

MARLBOROUGH, Mass., May 24, 2022 /PRNewswire/ -- DALBAR congratulates the top five firms boasting the most efficient and user-friendly plan administration portals during our 2022 group benefits employer website study.
A comprehensive Open Enrollment dashboard tracks workforce progress with benefits enrollment, while the Billing area offers every standard premium payment feature and the ability to customize billing groups and payment preferences.
"We've had a focused effort on simplifying benefit administration and providing relevant experiences for our customers.
Receiving external recognition for these efforts is great validation that our investments are meeting employers' needs," says Kara Hoogensen, senior vice president of specialty benefits at Principal.

Real-Time APIs With the Ease Guardian Connection

Retrieved on:

Thursday, July 15, 2021

Insurance, The Guardian Life Insurance Company of America, The Guardian, Employee benefits, API, Guardian, Insurance companies

"Today's employers are looking to improve their benefits technology and with the addition of Guardian Life's new APIs, Guardian EaseConnect+ will provide our customers with a digital-first experience," said David Reid, CEO of Ease.

Key Points:

"Today's employers are looking to improve their benefits technology and with the addition of Guardian Life's new APIs, Guardian EaseConnect+ will provide our customers with a digital-first experience," said David Reid, CEO of Ease.
With the Guardian Life Evidence of Insurability API update, brokers will no longer need to submit EOI forms.
Through the Guardian Member Benefits API connection, all enrollments, adds, terms, and qualifying changes will now be sent to Guardian from Ease within minutes when using the EaseConnect+ connection.
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With the Guardian EaseConnect+ connection, brokers and employers will easily add and manage Guardian dental, vision, and worksite insurance plans .

As drought drives an early California Wildfire season, Delos affirms its commitment to the California homeowners' insurance market

Retrieved on:

Tuesday, June 29, 2021

Types of insurance, Insurance, Insurability, Home insurance

The unexpected changes over the last five years have driven many insurance carriers to pull back from large segments of the California homeowners insurance market, creating a crisis of insurance availability and affordability for millions of California families living in wildfire-stressed areas.

Key Points:

The unexpected changes over the last five years have driven many insurance carriers to pull back from large segments of the California homeowners insurance market, creating a crisis of insurance availability and affordability for millions of California families living in wildfire-stressed areas.
Many insurance carriers have decided that homes in areas potentially exposed to wildfire are uninsurable or not insurable at affordable rates.
"More than ever, California homeowners need reliable insurance protection at a more affordable price," according to Kevin Stein, co-founder and CEO of Delos Insurance Solutions.
Delos Insurance Solutions uses cutting-edge technology to offer insurance protection to homeowners in communities abandoned by other insurers because of wildfire risk.

EIOPA addresses measures to improve the insurability of business interruption risk in light of pandemics

Retrieved on:

Saturday, February 13, 2021

Economy, Money, Articles, Financial risk, European Insurance and Occupational Pensions Authority, Risk, Insurance, Systemic risk, Moral hazard, Insurability

The European Insurance and Occupational Pensions Authority (EIOPA) published today its staff paper on measures to improve the insurability of business interruption in light of pandemics.

Key Points:

The European Insurance and Occupational Pensions Authority (EIOPA) published today its staff paper on measures to improve the insurability of business interruption in light of pandemics.
Building on the Issues paper on shared resilience solutions for pandemics published in July, EIOPA analyses options relating to prevention measures to reduce losses, capital markets risk transfer, and multi-peril solutions for systemic risk.
Aligning public-private measures for risk prevention can help in reducing moral hazard and improve the insurability of the risk.
To improve societys capacity for bearing business interruption risk beyond traditional insurance mechanisms, capital markets can be an additional layer of risk transfer and diversification.

In the Pandemic, Insurers Can Absorb Customer Life and Health Claims, but Not Business Losses From Lockdown Measures

Retrieved on:

Monday, October 26, 2020

Insurance, Insurability

Among the report's main findings are that, encouragingly, health and life risks for a pandemic resembling COVID-19 pose no fundamental insurability challenges.

Key Points:

Among the report's main findings are that, encouragingly, health and life risks for a pandemic resembling COVID-19 pose no fundamental insurability challenges.
However, P&C insurers have nowhere near the capacity needed to shoulder projected global output losses of more than USD 4 trillion for 2020.
By comparison, they collect USD 1.6 trillion in annual premiums, with just USD 30 billion for business interruption policies.
But, as our research shows, the pandemic exposed a massive protection gap in the area of business continuity risk.

In the Pandemic, Insurers Can Absorb Customer Life and Health Claims, But Not Business Losses From Lockdown Measures

Retrieved on:

Monday, October 26, 2020

Insurance, Insurability

- Insurers have an important role to play in protecting businesses and supporting economies, but it must be through participation in government-led initiatives.

Key Points:

- Insurers have an important role to play in protecting businesses and supporting economies, but it must be through participation in government-led initiatives.
Among the report's main findings are that, encouragingly, health and life risks for a pandemic resembling COVID-19 pose no fundamental insurability challenges.
However, P&C insurers have nowhere near the capacity needed to shoulder projected global output losses of more than USD 4 trillion for 2020.
By comparison, they collect USD 1.6 trillion in annual premiums, with just USD 30 billion for business interruption policies.

PURE Insurance Launches PURE Home Spotlight™ Home Buying Report

Retrieved on:

Wednesday, October 14, 2020

Insurance, Insurance law, Types of insurance, Underwriting, Pure, Insurability, Financial services, PURE Insurance, Life insurance

WHITE PLAINS, N.Y., Oct. 14, 2020 /PRNewswire/ -- The PURE Group of Insurance Companies (the PURE Group), which includes Privilege Underwriters Reciprocal Exchange (PURE), the policyholder-owned property and casualty insurer designed for high net worth individuals and families, has launched PURE Home Spotlight, a benefit exclusively available to the PURE membership that adds confidence to the home buying process.

Key Points:

WHITE PLAINS, N.Y., Oct. 14, 2020 /PRNewswire/ -- The PURE Group of Insurance Companies (the PURE Group), which includes Privilege Underwriters Reciprocal Exchange (PURE), the policyholder-owned property and casualty insurer designed for high net worth individuals and families, has launched PURE Home Spotlight, a benefit exclusively available to the PURE membership that adds confidence to the home buying process.
This report includes data and insights on property-specific risks that could identify homes at greater risk for future insurance claims and provides an initial indication of whether the home would be insurable with PURE.
Insurability Rating: While not guaranteeing insurability, the report begins the underwriting process and indicates the likelihood that PURE would insure this property based on available data.
Privilege Underwriters Inc. (PUI), a member of the Tokio Marine Group, was founded in 2006 and is the holding company for the PURE Group of Insurance Companies and related entities (the PURE Group).

Foresters Financial Launches Children's Whole Life Insurance

Retrieved on:

Monday, July 6, 2020

Economy, Finance, Money, Insurance, Insurance industry, Life insurance, Insurability, Financial services

Foresters Financial Chief Distribution Officer Matt Berman, said, "At Foresters, we offer Life Insurance with a Larger Purpose - to enrich the lives of our members and communities.

Key Points:

Foresters Financial Chief Distribution Officer Matt Berman, said, "At Foresters, we offer Life Insurance with a Larger Purpose - to enrich the lives of our members and communities.
With BrightFuture, you're not just buying life insurance, you are insuring a child's insurability later in life, and creating a legacy with the gift of a Foresters membership.
Since 1874, Foresters Financial has been providing socially responsible financial services to individuals and families.
Foresters, its employees and life insurance representatives, do not provide, on Foresters behalf, legal or tax advice.