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3 Types of Insurance Premium Fraud and How to Detect it

The Federal Bureau of Investigation (FBI) estimates insurance fraud to cost in excess of $40 billion each year, with premium diversion at the top of the list1. Premium Fraud is the willful misrepresentation of information with the intent of paying less than the appropriate premium for an insurance policy or insurance coverage. “There are always…

A Forward Look at Portals and Digital Engagement in Insurance

Technology has disrupted a multitude of industries, ranging from automotive and travel to publishing and music. That phenomenon has finally reached insurance. In the first half of 2016, venture capital-backed technology investment deals in the Property & Casualty (P&C) sector hit a new high of $1 billion.1  No matter the line of insurance, in order…

An Increase in Security Demands Amplifies Need for Cloud Solutions

This year, New York heightened their cybersecurity rules for companies doing business in the state and it has had far-reaching effects on the insurance industry. As of March 1, 2017, all insurers, individual brokers, agents, and adjusters have a new mandate to “maintain a cybersecurity program designed to protect the confidentiality, integrity and availability of [their]…

The Recipe for a High-Performance Workforce

Sixty-six percent of consumers who switch brands do so because of poor service. Excellent customer service does not begin and end with products and services offered—it starts with a high-performance workforce. In order to offer clients a consistently outstanding level of service, organizations have to create a meaningful experience for both employees and clients. In my…

6 FAQs in Utilizing the Cloud for Business

For owners and principals in the insurance industry, the landscape for deploying new technologies within agencies has experienced great change. Non-tech savvy owners may often find it difficult to understand conversations about the cloud, Software as a Service (SaaS), or managed service providers. Below are six frequently asked questions (FAQs) about shifting operations to the…

5 Reasons Why Insurance Professionals Need Professional Development

Insurance professionals are a curious lot. They spend their days seeking solutions to their clients’ problems. How do I insure that house that has had three previous claims? What about the restaurant whose leaking dishwasher caused mold in the floor? Their curiosity doesn’t end with figuring out insurance coverages. Insurance folks want more. As working…