Portal/LARS

Growing Trends in the Insurance Industry

Growing Trends

20 Apr Growing Trends in the Insurance Industry

Posted at 15:12h in Blog Archives by
0 Likes

In the wake of innovation and new experiences, the diverse industry of insurance has to steadily deal with evolving risks. In 2017, the continuous revolution of customer expectations, digital connections and emerging technologies is expected to change the way insurers create policy language, provide excellent coverage, as well as address any blurred lines between certain coverages, including general liability, cyber insurance and commercial packages.

Although people, technology and the market are all moving forward with new, unintended consequences ahead of them, here are three growing trends we’ve recognized that you should be aware of in order to stay on the cutting edge of your success.

Customer Expectations

The need for creating a competitive customer experience is imperative. Now, more than ever, customers are expecting a company to focus on faster and easier interactions that will find them the best coverage, quote and service available. This trend is growing daily, and in turn, this means you and your team must stay equipped in order to keep current clients and attract new business.

Digital Transformation

As people are becoming increasingly connected with each other through the digital world, the insurance industry must continuously adapt. This digital transformation is reshaping how insurers are now expected to approach their strategy. Digitizing certain processes will remove a great percentage of your human service costs while helping you gain a better customer-experience reputation.

Emerging Technologies

Along with emerging, interconnected technologies there will come new risks, because they magnify the impact of intangible property damages, individual losses or unexpected liabilities that were not listed under policies before the incidents. Interconnected technologies, including drones, autonomous vehicles, 3D printing, genetically modified organisms, shared-economy business models and variations of artificial intelligence, have transferred and generated a number of exclusions for insurance liability.

At Lane and Associates, we’re committed to evolving with trends in order to deliver the best packages and experiences to our customers.

Tags:
, , , , ,

Karen Bivona is a Lane & Associates underwriter! She underwrites, quotes and services general liability accounts for contractor risks, including our online Artisan Contractor General Liability Program. She has worked with the company for more than 35 years.

Jonathan Whitaker is a Lane & Associates underwriter. One of his favorite parts about his job is the relationships and friendships he's able to extend beyond work. He enjoys golf, traveling, Saints football and spending time with his family.

Marie Hohensee is Lane & Associates Vice President of Commercial Underwriting and assists the commercial underwriters in making sound and profitable decisions in placing business for our customers, as well as underwriting her own book of business. She’s originally from California but has called Louisiana her home for more than 25 years and has been working in insurance for more than 30 years!

Brandy Lane is an Underwriting Assistant at Lane & Associates. Brandy's favorite part of her job is helping the underwriters so we can promptly get things to our agents! Brandy's hobbies include spending time with her friends, trying new restaurants and seeing live music.

Scott Landry is the president of Lane & Associates, an advocate of continuing education and has his CPCU, ASLI, AIS, AU, and AIDA. Scott is active in the insurance community, serving on Commissioner Donelon's Surplus Lines Insurance Advisory Council, The Louisiana Property and Casualty Insurance Commission and the Louisiana Surplus Lines Association. Some of Scott's hobbies include gardening and exercising.

Casey Lane is a Lane & Associates underwriter. His favorite part of his job is building relationships with the agents he serves. When he's not at Lane, Casey enjoys Saint's football, music and watching his four children's sporting events.

Chris Weego is a Lane & Associates underwriter. His favorite thing about working at Lane are his coworkers and the amazing agents he gets to work with. When he's not working, Chris enjoys playing golf, watching his kids play sports and cheering on the Chicago Cubs!

Don Lundy is a Lane & Associates Texas underwriter. Recently, he completed his CPCU designation after 15 years of off-and-on classes. When he's not working, Don enjoys photography, Star Wars, the Atlanta Braves and watching his son bowl.