Insurance
7 Salesforce Features Empowering Insurance and Underwriting
Reading time: 3 minutes
In the fast-paced world of insurance, staying ahead of the curve is crucial. Salesforce, a leader in customer relationship management (CRM) platforms, has introduced several game-changing features in 2023 to enhance insurance and underwriting claims processes. These cutting-edge tools leverage Salesforce’s expertise in technology and customer-centric solutions to streamline operations, improve efficiency, and deliver exceptional...
Insurance
7 Key Areas to Leverage AI in Insurance Solutions
Reading time: 3 minutes
Between World Tour NYC ‘23 and CNX23 in Chicago, the announcements of Salesforce AI have been a major buzz around the ecosystem. Learning how to apply it to your industry is important due to its transformative potential and numerous benefits. Since I’ve been focusing on the insurance industry for several years, I want to put...
Insurance
The Smarter Approach for Recruiting Insurance Agents and Faster Onboarding
Reading time: 2 minutes
We cannot yet know the long-term implications of the COVID-19 pandemic. The outbreak has presented major challenges to all kinds of financial service businesses as they rush to shift strategies and tactics in response to changing customer needs. For insurance carriers, likely effects of the pandemic will include slower growth, additional pressure on profitability, as...
Insurance
How to Improve the Customer Experience in Insurance
Reading time: 3 minutes
Growing a base of satisfied and engaged policyholders will pay significant dividends for any carrier, agency, or brokerage. A great customer experience isn’t just a nice-to-have anymore – your customers demand it. The average customer spends 67% more in the 31st-36th months of their relationship than in their first six months. And 33% of Americans...
Insurance
Digital Transformation in Insurance Quote to Issue
Reading time: 4 minutes
Now, more than ever before, prospective clients have higher expectations of Insurers. In many cases, especially in direct-to-client distribution models, the first meaningful interaction between the applicant and carrier is a quote. So that quote needs to provide more than just numbers, it needs to provide an experience — and a good one at that....
Insurance
How to Improve the Claims Management Process
Reading time: 4 minutes
What does your claims process look like? Most insurance carriers typically have confusing multi-tiered processes that the average customer struggles to figure out and ignores the emotional journey the claimant is most likely going through. Customers expect digital self-service experiences in everything from food delivery, same-day shipping, to breaking news on social media; they’re going...
Insurance
Top Insurance Highlights from the Salesforce Spring ’23 Release
Reading time: 7 minutes
The Salesforce Financial Services Cloud Spring ’23 release is coming out in a few weeks. We’re excited to see that many of the new capabilities offer solutions for the technology goals that insurance companies are looking to achieve, including: Digitizing the recruiting and interview process to create a unified experience that flows from the first...
Insurance
Insurance Industry Trends 2023: Talent Shortages and Climate Change
Reading time: 4 minutes
In the first part of our look at 2023 insurance trends, we covered how inflation and interest rates are impacting insurance. Now we turn to other trends we are seeing around talent shortages and climate change. We’ll also take a closer look at industry-specific issues, such as insurtech and producer consolidation, and share how Salesforce...
Insurance
Understanding Underwriting in a New Era of Workers’ Comp
Reading time: 4 minutes
Workers’ compensation is the most highly regulated line of insurance, especially when it comes to underwriting policies. The pandemic exposed many outdated regulations, such as requiring paper documents that are physically signed or using checks instead of electronic banking or debit cards. Another challenge of the pandemic was rethinking the definition of workers’ compensation. It...
Insurance
How Digital Experiences are Transforming Workers’ Compensation
Reading time: 6 minutes
Insurers can expect accelerated premium growth in the coming year. While other insurance sectors, such as cyber insurance, have seen rates soar by 25.5% due to ransomware attacks and breaches of remote work locations, only workers’ compensation showed a rate decrease, down an average of 1.74%. This is likely due to U.S. unemployment remaining higher...
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