Category: Uncategorized

A Long Hard Look At Insurance Fraud

Unfortunately, insurance fraud is common and has a long history. A 2022 report says that fraud in this space costs insurance companies (and consumers) about $308.6 billion. The FBI stated that approximately $6 billion was lost as a result of false insurance claims or procedures during Hurricane Katrina. Sadly, even though many frauds are now… Read more »

Some Startling Statistics About Small Businesses In The USA

The small business community in the US is one of the largest in the world. There were 440,000 business applications submitted monthly between 2021 and 2023. One of the main reasons why small businesses survive in the US is the acceptance of products and services offered by local brands amongst Americans without bias. Of course,… Read more »

What’s happening to commercial real estate in the USA?

The real estate sector in the US has seen its ups and downs since 2010. However, despite challenging economic conditions, many new construction projects are rolling forward. Over $115 billion worth of construction was done in 2022. The industrial and office sectors have received approximately $142 billion and $109 billion in investments. Still, there are… Read more »

Why Auto Insurance Premiums Are Different For Some Cars?

Statista reports that around 75% of the US population had access to their own cars by Q1, 2023. The automotive industry is a pillar of the US economy and cars play a central role in our lives. However, this is an industry in flux too. For instance, the electric vehicle segment is slowly revving up. … Read more »

Can An Insurance Agency Be A Partner To A Small Business?

Most small businesses are run by the owners, with no employees listed under the organization. Managing everything, right from product formulation to marketing, and then shipping to customer support, can be hard. Small businesses have many other liabilities apart from selling their products or services to consumers. These include risk management for their companies, insurance… Read more »

Insurance Concerns Of The Silver Generation

The silver generation is the working professionals over 50, often having a high disposable income. These individuals are usually still a part of the workforce or have independent sources of income. As these individuals get closer to complete retirement, it is important that they concentrate on selecting the best insurance policies, which can enable them… Read more »

Who are Porch Pirates and how can you stay safe from them

In America, porch pirates stole goods valued at over $8 million in 2023. In the previous three months, 17% of Americans on average had a package stolen. Porch piracy is a new kind of issue that affects all online shoppers who are used to getting their packages delivered to their homes. Those who steal packages… Read more »

How Should “Solopreneurs” Look At Insurance?

There are 33.2 million small businesses in America, totaling over 99% of all businesses registered in the country. Amongst these, there are over 25 million companies that have only one employee. Solopreneurs are making an impact on the economy. These owner-operators manage all aspects of their operations alone, right from sales to service. The small… Read more »

Should The World Of Insurance Care About AI?

Everyone has heard about artificial intelligence by now, and we in the insurance sector haven’t been spared. To respond to the question above, insurance professionals and those who need insurance must be aware of artificial intelligence (AI) and how it may affect the services they provide or receive. How can AI be associated with insurance?… Read more »

A look at customer experience in insurance – trends, challenges, and opportunities for improvement

Whether it is a business or an individual, laborious and exhausting insurance processes can make experiences extremely terrible and bitter. However, today’s empowered consumer is looking for a better customer experience, even in this complex world. Both individuals and small business owners are calling for a different kind of insurance experience. They want convenience and… Read more »