Search:

Blog

Category: News

Insurance Industry Bands Together to Help California Wildfire Victims

As catastrophic wildfires continue to burn throughout California, insurance professionals are stepping in to lend a hand. Helping Communities Friday, the Insurance Industry Charitable Foundation (IICF) — a nonprofit organization supported by industry associates across the United States and United Kingdom — presented a $20,000 check to the Shasta Regional Community Foundation to aid in re...

Read More
Category: payments

Mission Critical: Customer Retention vs. Acquisition in Insurance (Part 2)

Unique Challenges and Solutions In Part 1 of this series, we learned that it costs five-to-nine times more to acquire a new policyholder than it does to keep one. Additionally, existing customers have a higher potential to buy new products and refer your brand to friends and family, creating a more significant revenue impact than bringing in a new customer. Despite this discrepancy, many...

Read More

Mission Critical: Customer Retention vs. Acquisition in Insurance (Part 1)

Comparing the Costs Insurance is a low margin game. Between customer churn, claim payouts, and massive operational overhead, the amount of money going out is barely less (and in some cases, more) than what is coming in. While the equation has many nuanced complexities – risk assessment, smarter underwriting, operational efficiencies, investment strategies, and more – much of the business...

Read More
Category: payments

Three Payments Secrets All Insurance Leaders Need to Know

For many insurance companies, payments is just an operations function that hums along in the background. Money comes in. There are spreadsheets involved. What’s the big deal? Why put more thought into it? With insurtech hotshots popping up left and right, along with skyrocketing consumer expectations for convenience and personalization, ignoring the payments experience can be a dangerous...

Read More