Insurance Underwriting Explained: How It Affects Your Coverage

When you purchase an insurance policy, whether it’s for your home, car, health, or anything else, there’s a process in the background determining the specifics of your coverage. This process is known as insurance underwriting. While you may not interact directly with an underwriter, their work ultimately influences key aspects of your policy, such as …

General Liability Insurance: Essential Protection for Your Business

Owning a business is exciting and challenging. Despite all the excitement, there is sometimes one important aspect that gets overlooked: risk prevention. This is where general liability insurance can help. Imagine being protected from lawsuits, property damage, and personal injury costs. Sounds like a lot, right? Understanding how this type of insurance works can help …

InsurTech Explained: How Technology is Changing Insurance

The insurance industry is evolving due to the introduction of new technologies such as AI and blockchain. While the industry may have relied on paper documents in the past, it is technologically advancing, making it more customized and personalized while improving its accessibility. In this article, we will discuss how Insurtech is changing the insurance …

How Predictive Analytics is Reducing Insurance Fraud & Claims Delays

The persistent issues of insurance fraud and claims delays continue to be a problem for many companies, with cumulative losses reaching billions of dollars every year. Fraudulent claims tend to raise the insurance premiums of honest policyholders while processing genuine claims usually results in delays, administrative burdens, frustration, and financial difficulties for the clientele. However, …

Cyber Insurance & Ransomware: Are You Really Covered?

In today’s world, cyber threats are emerging with unprecedented intensity and complexity, putting firms at risk regardless of their size. Among the risks, ransomware has rapidly emerged to be one of the most lethal types of cyber threats, wreaking havoc on companies and costing millions in ransom payments and operational downtime. Seeking to alleviate some …

The Future of Home Insurance: How Smart Devices Prevent Claims

From time immemorial, home insurance has served as the financial shield for homeowners protecting them from sudden shocks from fires, thefts, and even water damage. Traditional insurance models, however, use a “wait for damage to occur” reactive strategy. The inclusion of smart home technology mitigates the damage before it occurs. Smart devices such as security …

Commercial Auto Insurance: What Business Owners Should Know

Your vehicles are more than just a means of transportation—they can help you succeed as a business owner. Whether you’re a fleet or a single vehicle, it’s crucial to protect these valuable assets. Business auto insurance can help. Understanding it can help protect your business from major losses and unexpected events. In this guide, we’ll …