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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…

Premium Audits: Providing a Positive Client Experience

As your client’s business operations change, so may their insurance premiums. To make certain they are paying the correct premium amount an audit is commonly performed—requiring a premium auditor with a high degree of expertise, professionalism and understanding of your client’s business. Oftentimes, premium auditors are the only in-person interaction a policyholder experiences with a…

Strengthening Relationships with Risk Management

Brokers and agents often encounter clients whose businesses expose them to particularly complex and dynamic risks—placing them outside of the standard market appetite. When faced with the challenge of a hard-to-place risk, brokers must understand the exposures their clients face, turn to trusted partners to create tailored coverage solutions, and know the mitigating actions clients…

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…

Make More Money!

I got your attention, didn’t I? Now, let’s get to how you can make more money. One word: Headlines. I know, you’re thinking, “I’m out of here.” But stick with me. Remember, I can help you make more money. To make more money, you need to engage prospective clients in a sales conversation, and then…

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…

A Champion’s Approach

2016 PGA Champion Jimmy Walker on teamwork, risk-taking and elevating your game to the next level—in business and on the golf course In golf and in life, winners find a way to succeed. Professional golfer and Burns & Wilcox brand ambassador Jimmy Walker, winner of the 2016 PGA Championship, has been one of the tour’s…