The Vue team went to the IASA 2019 annual conference expecting to stand out due to their recent acquisition but found several other companies in the same position. There were some significant acquisitions in the technology vendor industry in 2018 and this trend appears to be continuing in 2019.
Heading for Phoenix, the always informative and interesting IASA Annual Conference. Attending the 2019 IASA conference will be very different from any that we’ve attended in the past as now we’re attending as a part of Vertafore. There are literally hundreds of people attending conference who will be interested in the “whys and wherefores” for combining Vertafore and VUE Software.
In todays more technically advanced organizations, an omni-channel experience supported by artificial intelligence is offered. The major targets for this technology are banks and insurance companies. The first line of modern interaction is the chat-bot which are designed to answer a particular stream of questions related to a specific area and can have a certain level of “artificial intelligence.”
Distracted driving endangers the life of the driver and others. Texting while driving, talking on a cell phone, using a navigation system—especially looking on a map on your phone—and eating while driving are a few examples of distracted driving.
Today’s training regime for most insurance companies is to provide training on the specific job you have and ignores the larger context of how insurance companies operate. Insurance training has gone from maximalist to minimalist and that is a major problem. Now with the lack of training at the carrier level, the agency is left with hiring people off the street and that isn’t good for anyone in the insurance value-chain.
The insurance industry is concerned about the legality of insuring a product (medical cannabis) that is Illegal per federal law and has not been approved by the Federal Drug Administration. Apart from Federal law, banking regulations and risks associated with farming—like fires, flooding, and insect infestation—these are the main challenges for Life and P&C carriers and actuaries. Regardless of the challenges, carriers are preparing for the day when federal laws change and remove the legal barriers and reputational risks of providing insurance coverage for the cannabis industry.