Among the technologies areas exemplified by the companies in the 2018 GIA cohort are AI, gamification, continuous underwriting, portals, apps, IoT/connected world devices.
The Chainsure and WealthChain solutions are designed to help insurers and financial services firms combine blockchain technology with enterprise capabilities to impact multiple areas of their value chains.
Whether motivated by the need to comply with legislation or the desire to provide an excellent customer experience, there are compelling reasons why insurers need to make all documents accessible to the blind and partially sighted.
Despite being slow to change and often hindered by legacy IT and regulation, insurers must catch up to other industries to build resilience into their systems and become data-driven businesses.
As regulation continues to change and become more intricate, automation of these processes becomes absolutely necessary to survive and thrive.
Winning organizations will achieve speedy and disproportionate value through cost-effective programs, business and IT alignment, front-middle-back office alignment and metrics driven business.
Despite many states adopting the NAIC’s Producer Licensing Model Act, in part or in whole, issues persist from state to state based on the lack of uniformity.
Analysts laud choice of proving ground and predict that it will lead the way for more captive programs and for commercial insurance to see the advantages of blockchain.
The solution will give policyholders and regulators a secure mechanism by which to validate compliance with mandatory vehicle insurance and reduce the incidence of fraudulent policies.
The compliant content/communication network provider will use the funding to significantly grow its institutional business development and customer success teams.