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Jan 22, 2025 | 
celent.com | Karlyn Carnahan |Nathan Golia
22 January 2025Survey data reveals where insurance providers can stand out Small businesses count for 43.5% of U.S. GDP, and 39% of private sector payroll. Small business owners are acutely aware of their risk exposure. There’s a continuity of interest between insurance companies and small business owners around ensuring that this market is responsive and robust.
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Dec 3, 2024 | 
celent.com | Karlyn Carnahan |Nathan Golia
3 December 2024Survey reveals digital distribution opportunities for insurers. Small businesses count for 43.5% of U.S. GDP, and 39% of private sector payroll. Small business owners are acutely aware of their risk exposure. There’s a continuity of interest between insurance companies and small business owners around ensuring that this market is responsive and robust.
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Nov 11, 2024 | 
celent.com | Max Ang |Craig Beattie |Karlyn Carnahan |Nathan Golia
12 November 2024Celent's annual look-ahead to 2025 visualizes how trends in digitalization will grow in the next year. Despite economic headwinds, the P&C insurance industry is pursuing a strategy of growth. But to do so in the current macroeconomic environment requires transformative efficiency. In order to meet growth objectives by leveraging digitalization, insurers also must make major investments in data management and governance.
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Nov 11, 2024 | 
celent.com | Nathan Golia |Harry Huberty |Fabio Sarrico
With P&C carriers facing high costs of doing business, taking friction out of business processes is a path to balancing the books without sacrificing growth. The rapidly advancing world of artificial intelligence – in generative and machine-learning forms – is opening the door for insurers to identify and price risks accurately and efficiently in a dynamic market.
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Sep 30, 2024 | 
celent.com | Nathan Golia
In the early part of the year, insurance made the news in North Carolina because carriers were asking for up to double the rate along the fragile Atlantic coasts. From the Outer Banks to Oak Island, homeowners – some of second homes, yes, but also many full-time residents – sweated out the potential of doubling their insurance costs for about a month. In February, N.C. insurance commissioner Mike Causey rejected the hike and set a hearing for Oct. 7 – about a week from now.
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Sep 25, 2024 | 
celent.com | Nathan Golia
As the insurance industry moved through what is now generally agreed upon as a “first wave” of Insurtech, I had several conversations with carriers, founders, venture capitalists and other industry gadflies that were remarkably thoughtful about the realities of the moment.
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Sep 16, 2024 | 
celent.com | Nathan Golia
16 September 2024Key capabilities and functionality to meet current threats The ability to detect claims fraud is, in some ways, easier than ever. With each year, the datasets that insurers have access to are expanded and refined by carriers, vendor partners, and industry groups. It’s got to the point where, to the keen investigator with a well-appointed and tuned dashboard, networks of bad actors can seem to jump right off the screen.
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Aug 13, 2024 | 
celent.com | Nathan Golia |Fabio Sarrico
13 August 2024A Celent SolutionScape, powered by VendorMatch A claims fraud-detection system helps insurance carriers identify fraudulent claims at both the individual and organizational levels. It is typically used by claims teams and in special investigative units (SIU). A variety of business benefits can be achieved from claims fraud-detection solutions, but two of the primary goals are:• Improving the carrier’s loss ratio by identifying illegitimate claims.
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Jun 27, 2024 | 
celent.com | Nathan Golia |Andrew Schwartz
27 June 2024Unveiling the Customer Perspective on Claims Systems North American Edition Following up from Celent's biennial North American claims admin system review, Celent asked for customer references in order to get feedback on those vendors and systems. More than 40 North American P&C insurers provided an evaluation of a claims system sold by one of the vendors in the reports. Client references were provided by the vendors.
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May 9, 2024 | 
celent.com | Nathan Golia
I live in a small town between Charlotte, N.C., and Rock Hill, S.C. Today, schools and businesses in Charlotte are closed after a series of severe storms came through the area to my north yesterday. That was the same day that South Carolina’s governor requested federal aid for cleanup after a severe storm outbreak in Rock Hill a couple weeks ago. Twelve homes were destroyed and two-inch hail was reported. Near-misses for major losses have been a fact of my life over the past few years.
