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Jun 03
Industry Roundup: June 3, 2021

4 BEST AGENCY WEBSITE FE​ATURES TO GENERATE INSURANCE LEADS

Design and functionality are the yin and yang of a powerful insurance agency website. Your website's appearance works to build trust with consumers. The features and functionality increase the likelihood of visitors becoming leads. Here are four of the best lead-generating features to focus on for your website.​

AUTO TELEMATICS' POTEN​​TIAL BENEFITS & PITFALLS

Auto telematics has the chance to give consumers lower, fairer prices while incentivizing safe driving behaviors, but “guardrails" are needed to prevent the data collected by these programs from being misused, according to the Consumer Federation of America's (CFA) white paper, “Watch Where You're Going: What's Needed to Make Auto Insurance Telematics Work for Consumers."

 

FIVE WAYS TO EXCEED POST-PA​​NDEM​IC CUSTOMER SERVICE EXPECTATIONS

Positive customer service has always been mandatory for agencies looking to build and sustain business, but given the rise of digital — coupled with the effects of the pandemic — there has been a widespread increase in expectations for brands to provide consistent and exceptional service. In fact, according to a survey by Infobip, 89% of American consumers state that good customer service is more important now than ever due to the pandemic.​

ALLSTATE TO ACQUIRE I​NSURER SAFEAUTO TO MERGE INTO NATIONAL GENERAL BRAND

Allstate has agreed to acquire Ohio-based SafeAuto, which offers car insurance that meets the minimum legal requirements in 28 states. The acquisition will be through Allstate subsidiary National General and SafeAuto will be integrated into National General's direct-to-consumer non-standard auto insurance operations. Total consideration includes a $270 million cash purchase price plus approximately $30 million in pre-close dividends of certain non-insurance assets.


MITIGATING CYBER RI​SKS – WHAT CAN BE DONE?

Ransomware attacks are headline news almost daily. Victims continually face the dilemma of choosing between paying the ever-higher ransom demands, or prolonging the disruption while they race to recover their data. The consequences of a ransomware attack are not just about monetary losses, and neither is the solution. Ransomware is rampant and affecting the lives of everyday Americans as personal data is stolen, jobs and livelihoods are disrupted, and personal safety is put at risk. What can slow this trend? According to experts at Resilience, a provider of cyber insurance and security solutions to middle-market organizations, the solution can be a human one.​

EXTREME NEW CYB​ER SECURITY ATTACK HITS MAJOR SUPPLIER'S FACILITY

The world's biggest meat supplier has become the latest casualty of a cybersecurity attack, posing a fresh threat to global food security already rattled by the COVID-19 pandemic. JBS SA shut its North American and Australian computer networks after an organized assault on Sunday on some of its servers​

UNDERWRITING PROFITS C​ONTINUE UPWARD TREND FOR P&C INSURERS

Property & casualty insurers will continue to see slight underwriting profits in 2021 as the economy moves into post-COVID recovery, according to a new forecast by the Insurance Information Institute (Triple-I) and Milliman. In 2021, the forecasters see little change in the industry's combined ratio over 2020, with a projection of 99 for the year, which represents the percentage of each premium dollar an insurer spends on claims and expenses. ​​


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