Managing risk isn't a new concept - merchants in ancient days used to distribute loads across many vessels to protect against weather hazards and robbers; they would also band together to insure their goods through various mechanisms. But modern insurance really began taking shape in London in the 17th century. Fires were a devastating risk for businesses and homeowners alike. The Great Fire of London in 1666 destroying more than 13,000 houses.
Have you been considering a Facebook ad campaign to bolster your agency's sales? If you have an active Facebook page, boosting your posts to give them more exposure might be the next logical step. Or you may be ready for a more robust, targeted ad campaign. The best thing about social media advertising is that you can stick a toe in the water to test it with as little as $5, $10 or $20 a day.
Jose, 37, worked construction for 7 years. In late March he fell off a ladder at work and broke his femur. Despite his status as an undocumented worker, he was eligible for workers comp, so he filed a claim. Unfortunately - and illegally - his employer lacked workers comp coverage on the day of the injury.
Looking for fraud among comp claimants is a little like looking for fraud among voters: it may be out there, but it's not nearly as prevalent as many believe. When it comes to fraud in workers comp and health care, you have to follow the money into the pockets of unscrupulous attorneys and, in today's story, the bulging pockets of two Alabama doctors.
If it seems like every week there's a new would-be insurance disrupter clamoring to knock you down and steal your agency's lunch money, you're not being paranoid. Venture capitalists have pumped more than $4.4 billion into insurtech in the last two years alone. But if you are looking over your shoulder at the insurtech startups, you may be looking at the wrong threat. While there is a profusion of start-up techs eager to transform the way people buy insurance, a new analysis by global management consulting firm McKinsey says that the main threat may lie elsewhere.