What’s holding insurers back from electronic payments?

epayPaper 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

Judging a book by its cover: How to evaluate First Editions

bookblog

Every book collector wants to get their hands on some famous first editions, but there are a whole host of factors that you need to take into account when you try to work out the value of a book.  Not all first editions are created equal, and evaluation goes well beyond age and rarity. You also need to weigh up the popularity of the author and the significance of the work, not to mention the presence of a signature or inscription. Continue reading

Use Technology to Speed Claims and Boost Customer Satisfaction

blog-image_2015-09-10An efficient workflow is the path to customer retention

It’s absolutely vital to ensure that your customers are satisfied with the current climate. According to a recent JD Power 2015 Claims Satisfaction Study, “23 percent of indifferent customers and 42 percent of displeased customers say they ‘will shop’ for a new provider during the next 12 months.”

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What does it take to be a champion? Grit

blog-image_2015-08-18Persistence is the vehicle you arrive in.” – Bill Bradley

‘When you win, win big’ should be the motto of PGA Championship winner Jason Day who beat the world’s number one ranked golfer Jordan Spieth by three strokes at the Sheboygan, Wisconsin tournament. Considered an also-ran, Day played in 20 majors and finished in the top 10 in more than half of them. At Whistling Straits he posted the lowest score in major history to win the top trophy in professional golf with a 20 under par.

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How to get Self-Service Insurance Right

MPL GraphicIt’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.

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Unable to Cash Check, Homeowner must Stall Repairs

blog-image_2015-07-09Water seepage bubbles up through the floor boards from a broken pipe

My own home is a case in point for lessons learned on how not to settle a claim. Settlements ought to run smoothly. Claimants should not be inconvenienced with long wait times and step-by-step processes before receiving their funds. Insurers have been down this road a million times. If customer experience were so important, then why are homeowners left feeling alienated by the payment process, especially as it relates to third parties?

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What’s in a Name when you’re a Hurricane?

blog-image_2015-06-22June marks the official start of the hurricane season forecasted to be below average.

At this moment, Tropical Storm Bill is approaching the Texas coast with winds at 60 mph with higher gusts, says the National Weather Service. Bill’s tempting the fates with the threat of heavy rainfall up to 8-inches and possible amounts up to 12 inches in places. Bill is purported to cause widespread flash flooding through midweek across Texas and 4 other states: Oklahoma, Arkansas, Missouri and Illinois.

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Cloud and Mobile Solutions for the Savvy Insurance Pro

blog-image_2015-06-02In the competitive world of insurance, more and more professionals are looking to technology to maximize their efficiency and find new ways of communicating effectively with clients and other stakeholders. There is an app for almost every task, large and small, but you need to choose carefully and have clear expectations to avoid frustration and disappointment.

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