Technology is vital to good underwriting; underwriters are using technology in imaginative ways, but there is always room for some improvement

Article Abstract:

The insurance industry is increasingly using technology in its everyday operations, contrary to popular opinion that the industry is technology-averse. Sometimes, the use of technology is very sophisticated, and applications include analysis of catastrophe information, loss control, claims adjusting and risk analysis. Benefits to the industry include improvements in customer service and efficiency, less paperwork and cost reductions, but insurers must continue to come up with creative uses for technology as it is not an end in itself.

Usage, Technology application, Technology

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Putting your company on a solid footing

Article Abstract:

Underwriting policies should help insurance companies to profit and maintain solvency. There are many hindrances to an insurer's solvency, including underwriting risks, uncertainty about future events, and the cost of unforeseen losses. Insurance regulators should help insurers to maintain solvency, but paradoxically regulators seem to be influenced more by politics. Conflicting regulatory standards and inconsistency among regulators hinders insurer solvency rather than helping to improve it.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Insurance Regulation ex Auto-State, Insurance law

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Revive your company but avoid quick fixes

Article Abstract:

The insurance industry is about to experience a fundamental transformation. Experiences in industries that have recently undergone such transformations indicate that companies facing basic changes experience a seven-phase learning curve. Insurers, in order to improve their financial, competitive and strategic performance, must work through that learning curve as quickly as possible.

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