Introduction The insurance industry has been relatively slow to adopt new technologies. But that is changing rapidly as insurtech companies are emerging and disrupting the traditional insurance market. Insurtech is a term used to describe the intersection of insurance and…
Introduction Insurance data ownership is a complex and important issue in the insurance industry. It involves various stakeholders such as policyholders, insurers, and regulators. It is important to understand the rights and responsibilities of each of these stakeholders in order…
Introduction Insurance compliance management (ICM) is a crucial aspect of running a successful insurance business. It involves ensuring that the company adheres to all the regulatory requirements and industry standards Additionally, it makes sure that all procedures and guidelines adhere…
Introduction MGAs – Managing General Agents and other entities are required to verify the producer data they receive. Numerous regulatory authorities have started to develop and enforce data integrity rules in recent years.. This is a required adjustment because the…
Introduction Legacy systems are functioning applications that are existing within many organizations. Organizations must decide how best to upgrade or modernize their existing legacy systems to maintain updated and competitive technologies. There are many benefits to modernizing legacy systems, such as…
Introduction Legacy software technologies, applications and systems are developed using older development and coding paradigms. It makes them difficult to maintain and upgrade to newer versions. In addition to the technical problems that can arise, there can be increased costs…
Introduction Traditional software applications are quickly becoming obsolete in today’s competitive digital landscape as businesses strive to remain ahead of the competition. This is where application modernization comes in. Application modernization is the process of modernizing outdated or legacy applications with the…
Introduction Underwriting is the process of evaluating, accepting, or rejecting risks to determine whether or not to insure them. In the past, underwriting was a manual, time-consuming process that involved significant human effort. However, with the advent of artificial intelligence…
Introduction In the dynamic world of insurance, staying ahead of the curve is paramount. As insurers endeavor to meet evolving customer needs and navigate a complex regulatory landscape, the role of insurance agent portals has grown increasingly vital. These digital…
Introduction In a rapidly changing world, the property insurance industry faces a multitude of challenges and opportunities. One of the most significant drivers of change is the integration of technology. As we enter the digital age, technology is transforming how…
