AI, novel data sources move underwriting into the 21st century
With the advent of AI, insurance carriers are tapping novel data sources like social media, GPS records, and smart devices for underwriting.
How is P&C insurance benefitting from generative AI?
The possibilities appear to be endless for using generative AI in the property and casualty insurance industry. We asked an expert to bring us up to date.
#FinanceTok: Leveraging social media challenges for financial education
#FinanceTok is a burgeoning movement where users share, learn and engage with financial education through short, impactful videos.
Medigap rules vary to the ‘extreme’ from state to state, advocates say
Access to an often much-needed Medigap policy varies greatly by state for those under age 65, while Medicare Advantage plans are often bad choices for those over 65.
IncomePath: Helping clients reimagine retirement spending
Two retirement industry thought leaders believe the industry’s “failure” approach to retirement planning is faulty, so they conducted their own research and created a tool to help consumers make the best choice for a successful retirement.
Annuity sales set more records in Q4, break $100B, Wink reports
Total fourth quarter sales of deferred annuities were $105.4 billion, Wink, Inc. reports, up 32.9% when compared to the same period last year.
Nearly 80% of near retirees fail or barely pass Social Security basics quiz
Nearly 8 out of 10 (78%) of near retirees failed or barely passed the latest Social Security retirement benefits quiz from MassMutual.
Insurers look to AI in the face of unprecedented challenges
The triple threat of increased claims severity and frequency, inflation and labor shortages continue to challenge insurers.
NC appeals court deals another blow to Greg Lindberg’s crippled empire
A North Carolina appeals court partially reversed a lower-court ruling today and affirmed liquidation proceedings against insurers once owned by embattled investor Greg Lindberg.
Insurance fraud epidemic continues; drives up operational, consumer costs
Insurance fraud, considered a $310 billion a year criminal business, shows no signs of slowing, according to the U.S. Federal Trade Commission
State Farm accused of evading discovery in lawsuit over total loss values
In a new court brief, plaintiffs accuse State Farm of “evasive tactics” during the discovery phase of a class-action lawsuit over vehicle loss assessments.
More states earn an ‘A’ in financial literacy education
Half of the 50 states are projected to get an “A” grade in financial literacy education for their high school students by 2028, according to a Champlain College report.
The insurance industry hits a perfect storm in finding talent
It’s 2024, and the insurance industry’s struggle with finding great talent continues.
P&C rate hikes expected to continue; what’s driving costs up?
High inflation, increased claims costs, climate change and fraud are driving major increases in insurance rates across the United States.
Insurance M&As drop in 2023, but expected to rise again this year
Insurance company merger and acquisition deals fell off the table in 2023, hampered by the rising cost of capital and…
Planning for end-of-life expenses amid soaring costs
There’s a critical aspect of financial planning that often doesn’t receive the attention it warrants until it’s too late: the cost of dying.
California Gov. Newsom signs best-interest annuity sales bill
California Gov. Gavin Newsom gave industry trade groups a big win Thursday by signing a best-interest annuity sales bill into law.
How financial advisors can overcome long-term care insurance buyer hesitation
How financial advisors can overcome buyer hesitancy in purchasing traditional long-term care insurance policies.
Advising Women Through the Seasons of Their Lives
Women need advisors who can help them meet their changing needs as they go through their life stages.
