For decades, underwriting has been seen as another insurance back-office process. Moreover, decision-makers often overlook its significance and influence on the overall business. Although a fraction of total operating cost is spent on underwriting. Still, there is a need to transform it considering its potential to lower the cost of claims. Additionally, life today is...
It is rare for an insurance company to go insolvent but there are always possibilities. While there can be several reasons behind an insurer’s failure, various solutions can prevent the same.
Insurance agency management software is a desktop application, which can also be a cloud-based program depending upon the software company’s available versions. The software is developed to facilitate an insurance agency’s operations, primarily back-office functions. It works as a central hub for managing backend chores and customers, all in one place. The main aim of using...
Today, the buzz around insurtech can be seen across insurance lines. Insurers around the world are increasingly shifting to digital adoption, aiming to optimize overall insurance administration. However, it would be fair to say that while technology provides opportunities, it brings challenges and is not uncommon across the insurance sector. Therefore, without going deep into...
