In early 2016, when online behemoth Google shuttered their insurance venture Google Compare after only a year in business, many within our industry breathed a sigh of relief. But large national players see a potential for disruption, and this time, the target may be the homeowners insurance market rather than the auto market.
For years, there has been talk about the diminished role of agents as technology takes center stage in selling and servicing insurance customers. A series of recent customer satisfaction studies by J.D. Power shows the reverse: customer reliance on and appreciation of the role that agents play is actually growing.
Recently, Aon released its US Cyber Market Update, the the third edition of their US Cyber Insurance Profits and Performance study. The study looks at US insurers and is based on an analysis of data from National Association of Insurance Commissioners statutory filings. The report shows continued market growth, both in terms of premium growth and the number of US insurers writing the coverage. The report covers both stand-alone and package policies.
In the past, when we talked about autonomous vehicles, most of the testing was happening someplace else - California or Arizona, maybe. But what happens when testing comes to your neighborhood? That's actually about to happen sooner rather than later. Here's a rundown of New England state initiatives.
For more than 130 years, Edison General Electric, later known as GE, filled our homes and businesses with inventions and innovative technologies. The company was founded in 1889 and was booted from the Dow Jones Average last month. Cycles of disruption are accelerating. Business leaders must adapt to a new reality: continuous disruption.