The excitement continued on day two of Enservio’s Property Innovation Summit. Rob Chase once again took the stage to get our second day started. Continue reading
Climbing Mount Everest taught Alison Levine how to lead a team in even the toughest of environments. Alison Levine was team captain of the first American Women’s Mount Everest Expedition and is the author of a New York Times bestseller on leadership. No stranger to punishing environments, she skied both the North and South Poles, survived subzero temperatures, hurricane-force winds, avalanches and a career on Wall Street. Continue reading
Paper checks are definitely on the way out. There were 49.5 billion checks issued in 1995, falling to 30.5 billion in 2006, and just 24.5 billion in 2009, according to the Federal Reserve. Switching to electronic payments can be a major money saver. The U.S. Treasury switched to direct deposits and debit cards and retired paper checks. It’s expected that the move will save taxpayers $1 billion over the next decade. Continue reading
It’s a competitive market out there. Using aggregators to shop around for the best deals online is a common practice nowadays and it applies to every industry, including insurance. Customers have expectations about self-service offerings, and they’re willing to do some heavy-lifting in return for saving time and hassle.
This year’s Property Innovation Summit was keynoted by best-selling business book author and leadership consultant Jack Zenger, whose agency has conducted 360-degree feedback reviews with 80,000 Fortune 500 executives. “What do the best leaders share in common?” A willingness to challenge the status quo, powerful and clear communications, a focus on speed, developing a strategy collectively, reciprocal trust, accessibility, and having an intimately friendly relationship with co-workers. “Trust leads to greater innovation,” said Zenger. Continue reading
Managing risk is what insurance is all about. Unpredictability rules the roost. Tornados touch down in unexpected places, super storms are drifting further up the northeast coast. Western U.S. droughts are unprecedented. Trends point to more disasters to come. Unpredictability is not just the nature of the business, it’s the nature of nature itself. Having the flexibility to choose among options – such as deciding whether to outsource or insource your claims services, or whether to deploy software or request services– is key to survival.
As chief operating officer and senior vice president, Jim Schweitzer’s day-to-day responsibilities involve field operations. Field operations consist of 180 investigators and 15 analysts that are headed by eight regional directors. Operating for more than 100 years, NICB has historically been focused on vehicle crime and fraud. In the last 25 years it has expanded to include medical-related fraud, now its top priority, and commercial fraud. NICB has 380 employees who work diligently with law enforcement on behalf of its members to support their efforts to fight insurance crime and fraud.
“Innovations in Insurance” is a Q&A Enservio blog that interviews thought leaders working to improve the quality of work while managing change within their organizations.
At the Property Innovation Summit, Enservio Labs was announced as an independent kind of ‘think tank’ or incubator, allowed to imagine possibilities for developing new products. Anything you can share on that front?
Enservio Labs is in its third year of operations. An early product to come out of Enservio Labs was ContentsITV, the industry’s first analytics product that predicts the value of contents in a household. Soon we’ll be taking the wraps off a fraud detection product unlike anything else on the market today. We’re also working with key partners on a couple of exciting new initiatives in the areas of mobile and underwriting analytics.
Gregory Blanchard began his career in the insurance business as a claims zone manager and in product management for Progressive in 1978. Since then, he’s been in varying product management roles for American Financial Group, and the Allied Group, creating innovative nonstandard auto products such as the AutoMax agent network for 26 states. Today he is Associate Vice President for Nationwide Insurance in Des Moines, Iowa, where he established the company’s Powersports Products office. He works on providing new watercraft, motorcycle, and RV insurance programs for independent and exclusive agents and direct distribution channels. We asked Greg what gets his motor running when it comes to innovation.
Conferences provide a live forum to present ideas from thought leaders and generate dialogue. But the true measure of a good conference is when the audience feels it has a voice. Short of pulling the entire audience up on stage at this year’s Property Innovation Summit, we decided to take a survey to collect current thoughts on innovation.