The Silverline Blog
Industry insights, Salesforce news, and more
Financial Services
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...
Financial Services
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...
Financial Services
Insurance Industry Trends 2023: The Impact of Inflation and Interest Rates
Reading time: 5 minutes
The insurance sector is not for the faint of heart. The massive insurance landscape is a fast-changing world of ebbs and flows, and the industry is continually influenced by trends that are beyond its control but that organizations need to overcome in order to succeed. Here we’ll dive into some of those insurance trends around...
Financial Services
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 The pandemic exposed many outdated regulations, such as requiring paper documents that are physically signed or using checks instead of electronic banking or debit cards.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...
Financial Services
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...
Financial Services
8 Steps to Build a Strong Carrier-Broker Relationship
Reading time: 5 minutes
As more and more organizations now consider keeping remote or hybrid workforces, they are facing a whole new set of workers’ compensation challenges. Insurers must now consider the safety of a company’s remote work locations in the insurance and underwriting process. They are looking at details such as if employers are accurately reporting the state...
Financial Services
13 Insurance Highlights from Salesforce’s Winter ’23 Release
Reading time: 6 minutes
Salesforce’s Winter ’23 release notes offer high-level descriptions of new features and enhancements. We’ve combed through the hundreds of pages to share highlights that are especially relevant for insurance industry users so you can review and quickly start benefiting from the new functionality. You can watch a video demo below, or continue reading to see...
Financial Services
How Insurance Companies Leverage Salesforce for Agency Management
Reading time: 4 minutes
The relationship between an insurance carrier and their agents is a critical one. A primary objective for a carrier is to make doing business as easy as possible for agents so they will either start or continue to do business with the carrier. This is especially the case with non-captive agents because they have a...
Financial Services
Drive Digital Transformation with Salesforce Insurance Policy Administration
Reading time: 4 minutes
The pandemic has been a huge disruption in everyone’s life, so it should come as no surprise that the pandemic was a massive disruptor in the insurance industry. Agents could not hold face-to-face meetings with prospective policyholders, and the days of paper trails to collect information were over. A shift to digital was inevitable, given...
Financial Services
Rebuilding SIF’s Quoting Process for Efficiency and Visibility
Reading time: 3 minutes
SIF, Idaho Workers’ Compensation, has been the reliable and stable source of workers’ compensation for Idaho since 1917. But processes hadn’t changed to keep up with the transforming marketplace. Requesting a quote was initiated with a form, an option that was very time-consuming and offered agency staff no visibility into where applications were in the...