Understanding SOC 2 Type II Compliance in the Insurance Industry: Part I

Understanding SOC 2 Type II Compliance in the Insurance Industry: Part I

Understanding SOC 2 Type II Compliance in the Insurance Industry: Part I Between March 2022 and March 2023, the average cost of a data breach in the insurance industry was $5.9 million. This cost includes expenses associated with cybersecurity detection and escalation, customer notifications, business disruptions, and post-breach response.  The...
Key Customer Touch Points in the Insurance Industry

Key Customer Touch Points in the Insurance Industry

Key Customer Touch Points in the Insurance Industry A “customer touch point” refers to an interaction between a business and a customer. In insurance, this interaction can happen at any stage along the policy placement journey – both in-person and through digital means.  From the initial website visit to risk...
Key Benefits of Automated Insurance Underwriting

Key Benefits of Automated Insurance Underwriting

Key Benefits of Automated Insurance Underwriting It can often seem as though every week brings new innovations in technology aimed at improving processes that the insurance industry has been grappling with for decades.  Among the many innovative insurtech approaches the industry has available, the process of automation – especially as...
Time Management: 3 Tips For Insurance Professionals

Time Management: 3 Tips For Insurance Professionals

Time Management: 3 Tips For Insurance Professionals It’s important for insurance professionals to properly manage their time so they can effectively focus on building their book of business. However, having to manage a wide range of daily tasks and responsibilities, from servicing accounts to dealing with administrative tasks, can make...
The 4 Biggest Insurance Technology Trends for 2024

The 4 Biggest Insurance Technology Trends for 2024

The 4 Biggest Insurance Technology Trends for 2024 Today’s insurers are trying to strike a balance between implementing insurtech operational efficiencies to grow their business, while building trust with policyholders who expect transparency, security and privacy. In 2024, we’ll see more well-recognized insurance technology trends move in new and innovative...