Technology and Tools

Although the NYDFS Cyber Regulations may not apply directly to your business, independent insurance agencies operating in other jurisdictions could still see impacts.

The study tracks agent sentiment across multiple categories, including ease of doing business, communication practices and claims handling.

Despite artificial intelligence (AI) becoming increasingly integrated into independent insurance agencies, only 12% of agencies have a well-defined usage policy, according to Liberty Mutual.

Less than half of parents rate their teen’s driving as good or excellent, according to Nationwide, with some parents reporting their teen’s unsafe driving behaviors, including styling their hair or even watching videos.

Cyberattacks against carriers, such as the ones earlier this month against Erie Insurance and Philadelphia Insurance Companies, can pose serious errors & omissions risk for your agency.

While most homeowners are familiar with common risk areas and the technologies designed to mitigate them, relatively few have implemented these solutions in their own homes, according to The Hanover.

The American Property Casualty Insurance Association (APCIA) recently launched a public awareness campaign on the importance of parents encouraging teens to be safe behind the wheel.

Most drivers believe other motorists’ driving behaviors are bad and getting worse, according to Nationwide. Yet most rate their own driving very highly, despite participating in the same risky behaviors.

While more than 2 in 3 (69%) say the insurance industry is a great place to work and 4 out of 5 (81%) say they are satisfied with their job, high rates of burnout are threatening to dampen job satisfaction, according to Liberty Mutual and Safeco.

For the seventh year in a row, the Big “I” and J.D. Power teamed up to measure property & casualty independent insurance agent perceptions of their carriers.