What Happens When Something Is Under-Insured?

by Jed GigerMay 8, 2015

When you take out an insurance policy; you are required to explain the value of the property (or its contents) that you want to insure. This value is known as “the sum insured”. In some cases there will be a discrepancy between the value of the property and the value of the sum insured. If […]

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4 Areas in Which Technology Can Help Insurance Marketing and Vice-Versa

by nickkMay 4, 2015

If you’re wondering what to invest in, in terms of technology, this year for your insurance brokerage – you could do worse than focus on technologies which can help with marketing and selling your products. You should also look at how marketing can support these technologies. We’ve got some ideas that might help you focus […]

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The Insurance Challenge from Driverless Cars

by nickkApril 20, 2015

The driverless car has been put into wide-scale trials and the thinking has moved from “if” to “when” these cars are finally seen on the roads. This is, perhaps, positive news if these vehicles deliver on their promises of an accident free future. But there are some serious questions that insurers need to consider before […]

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Calculating the Reserves an Insurer Must Carry

by Jed GigerApril 6, 2015

We have looked, in the last two instalments of this series, at the basics of calculating insurance premiums. There is, of course, a host of additional complexity to be included in a premium calculation such as: Brokerage Fees Capital Costs Profit Margins Recovery Costs Internal Costs (e.g. Operating Costs) Taxes Cost of Claims Cash Flow/Liquidity […]

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Health Care Goes Mobile and Insurers are Backing the Change

by nickkMarch 23, 2015

The smartphone has brought a lot of useful functionality to our lives. There’s an app for nearly everything from ordering flowers to finding your way in strange lands. Yet, while there have been many improvements in the area of health; such as the heart monitoring functions and pedometers – you’ve still always had to visit […]

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Insurance Premium Modelling – Introducing Multiple Insured Parties

by Jed GigerMarch 6, 2015

Last month, we took a look at the way an insurer would have to operate if they only insured a single party. As we discovered, it would be a hard business to run and not a very profitable one if an insurer only dealt with a single incidence of risk. They’d need to keep reserves […]

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The Skills that Are Most Needed from Insurance Technology Professionals

by nickkMarch 2, 2015

It can be hard hiring the right talent to take your insurance brokerage to the next level. The insurance industry in the UK is lagging behind other sectors in implementing technology but given the size of investment required; brokers and insurers need to focus on bringing the right talent in to implement new technology for […]

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Is Your Insurance Brokerage Ready for Windows 10?

by nickkFebruary 16, 2015

Last year Microsoft pulled the plug on official support for Windows XP. This was meant to drive businesses to Windows 8. In some cases this was a success; in many others it wasn’t. Windows 8 may be the worst received Microsoft Operating System since the Windows Millennium Edition. An interface that was designed for phones […]

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Insurance Premium Modelling – An Introduction

by Jed GigerFebruary 6, 2015

This week, we’re going to start looking at the basics of how premiums are calculated and over the next couple of months; we’re going to see how these models become more complex and how what initially, seems like an easy task, isn’t quite so simple. The Basics of Insurance Premium Calculation Let’s say that you […]

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Insurance Technology and the Customer Relationship

by nickkFebruary 2, 2015

As you know, here at Riskheads we’re huge fans of the power of software to improve insurance businesses. The ability to automate processes and generate greater granularity in analytics leads to better products and services. However, we also think that there’s a balance to be found between software and humanity. The Customer Relationship is at […]

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