Swiss Re reported recently that global catastrophic losses for the first half of 2011 will cost the insurance industry around $70 billion. That’s already the second most costly year on record for catastrophic losses, and we still have to add Q3 and Q4 losses for the final total.
While some might think these numbers would leave the insurance industry strapped for cash, a recent survey from Novarica, a research and advisory firm focused on technology strategy in insurance and financial services, found that IT spending is expected to increase in 2012. Continue reading
In recent years, we’ve seen more and more ‘cash for gold’ advertisements flooding the media, and for good reason. About a decade ago, gold was $300 an ounce, yet last week the price of gold shot up to $1,900 an ounce, adding to the 21st century gold rush we’re experiencing. Continue reading
Why would a potential customer choose to have their homeowners or business insurance covered by you? Why would they choose to renew with you? These are both very good questions that agents and carriers, alike, need to think about when it comes to their brand and how customers – and potential customers – feel towards them. Why? How your customers feel about your brand speaks a lot about your reputation. Continue reading
A recent article in Insurance & Technology talked through 4 steps agencies and carriers need to focus on when it comes to retaining loyal customers. One step in particular rings true to what Enservio aims to deliver to carriers and adjusters: ”Claiming the Customer.”
It’s important to remember that most people don’t think about their insurance coverage until they need to call their agent. In “Claiming the Customer,” the author points out the importance for carriers to provide optimal service every step of the way, ensuring that customers get the attention they deserve. Continue reading
Is your home currently being renovated? Do you plan to renovate within the next year? An article entitled, Renovating your Home? Renovate your Insurance, in the Las Vegas Review Journal offered some insightful tips not only for the insured, but also for agents to communicate to their customers.
Wild weather and wild fires continue across the country and it seems 2011 is on its way to becoming one of the worst years on record for catastrophic loss to U.S. homes and businesses. A recent story in the Alabama Press Register examining recovery efforts from the April tornadoes that struck the Birmingham, Mobile and Huntsville areas illustrates how large loss catastrophes expose persistent kinks in the insurance claims process – specifically in the handling of contents and settlement payments. Contents inventories often pose the biggest obstacle to swift and accurate settlements, which is evident from the following statement from an insurance carrier spokesperson quoted in the article: Continue reading