There is a fundamental shift happening in the insurance industry moving from restoration (returning the policyholder to the same financial position they were in before the loss) to prevention (preventing the damage from happening in the first place). Technology has been developed, and is still being developed, that will help policyholders prevent losses from ever happening in the first place.
Agents and brokers need to be adding services for their clients that will help them prevent losses.
Munich Reinsurance America has unveiled its Smart Mobility Program offering a toolbox of solutions to address the complex issues surrounding commercial auto losses and to help reduce or avoid the risk of collision for commercial fleets. The Smart Mobility program includes LossDetect™ (patent pending), an automated text-mining tool that analyzes automotive claims data and recommends potential solutions.
Through my involvement with Matteo Carbone and the North American Connected Insurance Observatory, I’ve had the opportunity to meet Michael Scrudato, Senior Vice President, New Strategic Markets and Bruce Weisgerber, Mobility Solutions Center Leader, New Strategic Markets and get an early look at their LossDetect platform.
I spent last week at the Opryland Hotel in Nashville attending the AppliedNet 2018 user conference with about 4,000 other people. Because of some signals I picked up, I anticipated a significant announcement by Applied Systems. I wasn’t disappointed.
Toward the end of his opening keynote presentation, Reid French – CEO of Applied Systems – announced a “nine-figure” investment by CapitalG (Google’s investment arm) into Applied Systems. I had the opportunity to participate in two press briefings totaling almost 2 hours as various members of the press and industry analysts asked questions about the details and impact of this investment by Google.
French was also gracious enough to carve out 30 minutes in his full schedule to talk with Ryan Deeds and me on our Digital Broker Podcast. I highly recommend you listen to the interview to hear from French himself the details and implications of this investment.
Following are my early impressions regarding the significance and potential benefits to the industry and agents and brokers as a result of this announcement.
In last week’s TechTips, I provided you with a chart of the market share for different Internet browsers. Google Chrome’s browser commands a 60% market share. I’ve included the chart again below.
This chart got me thinking that it is essential for you to make sure your website displays correctly on multiple browsers. It would help if you made sure the pages of your website render correctly on at least the top three Internet browsing platforms.
You could install each browser on both a Windows and Apple computer so you can load your website and test all of the pages. However, this is at best a cumbersome process.
First, in the last few weeks, I have come across a significant number of agency websites that have yet to add a security certificate. Website security is especially important if you have any forms that collect personal information — like a “request a quote” form.
The second event was an article I read describing how Google will be strengthening Chrome’s security with the next release. I realize that many agencies continue to use Internet Explorer, but the world — by an extensive margin — uses Chrome. The graphic below provides an indication of browser market share globally. Most people coming to your website are using the Google Chrome browser.
This next release will also “not trust” older Symantec security certificates (pre-June 2016). Access to the website will not be blocked. However, it will pop up warnings that will be annoying and might discourage your prospects from entering your site.
We are creating more digital information today than ever. Word documents, Excel spreadsheets, PDF proposals, pictures, video — all are piling up on our hard drives. The trick is finding a document when you need it. “I wonder… in what folder would I have stored that document?”
This question is all too common. The more information we have, the harder it is to find that one piece of information we need right now.
Searching for an email in Outlook is better than it used to be, but still not great. The Windows 10 operating system also has a much better search, but still not great.