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BOLT Blog

P&C Insurance is Changing: Here's How You Can Keep Up

August 08, 2018

P&C insurance is an old and stable line of business. As long as people own items, and as long as there are risks involved with that ownership, there will be a need for some kind of insurance.

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The Smart Home Trends Impacting Homeowner’s Insurance

August 01, 2018

Smart home technol

Four years ago, a white paper by the Consumer Electronics Association and Parks Associates found that, at the time, nearly 66 percent of Internet users were unaware that smart home devices, services and providers were an option for them. Only 10 percent rated themselves “very familiar” with smart home options, and only eight percent said they knew where to buy the devices or services.ogy is on the rise.

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How to Create a Seamless Customer Experience With Your Online Portal

July 25, 2018

Reputation has become the No. 1 driver of auto insurance purchases, according to the 2018 J.D. Power U.S. Insurance Shopping Study, and many P&C insurers are staking that reputation on their online presence.

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How the New Ways We Work and Live Are Changing Insurance Products

July 18, 2018

Property and casualty insurance has operated in a remarkably consistent fashion for many decades. In doing so, the industry has relied on the consistency of certain lifestyle patterns and choices from most or all of its insureds.

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Projecting P&C Insurance Trends: What Will a Carrier’s Operations Look Like in 2028?

July 11, 2018

In a 2011 article in Insurance and Technology, Kathy Burger  <http://www.insurancetech.com/security/what-has-changed-in-insurance-in-10-years/a/d-id/1313114d41d.html?> enumerated several big technological changes in the insurance industry since 2001, including the rise of big data, the ubiquitous nature of cell phones and social media, and an increased emphasis on data security and privacy.

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The Relevant KPIs for Understanding a Digital Customer’s Lifecycle

July 05, 2018

Traditionally, marketing focused on introducing customers to brands, products and services, then directing them toward sales staff for purchases and relationship building. In the digital world, however, marketing plays a key role in the entire customer lifecycle, Tom Kaneshige  <https://www.cio.com/article/2888258/marketing/digital-marketers-must-own-the-customer-lifecycle.html> at CIO stresses.

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How Insurtech is Changing the Way P&C Insurers Do Business

June 27, 2018

Until very recently, the insurance industry had “remained unchanged, untouched by innovation, for a hundred years,” Lemonade CEO and cofounder Dan Schreiber  <https://medium.com/wharton-fintech/interview-with-daniel-schreiber-ceo-and-co-founder-of-lemonade-1a6aef384e2f>told David Gogel of Wharton Fintech in December 2016. And while some insurance participants saw the industry’s longevity as a sign of success, innovators like Schreiber saw an opportunity for major disruption.

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How P&C Carriers Can Use Social Media to Support Direct-to-Consumer Sales

June 20, 2018

Direct to consumer (D2C) sales channels are proliferating, as P&C insurers strive to meet customers where they are. D2C provides an opportunity to increase sales and improve customer retention — but it demands a different approach than older tactics, which benefited from a sole focus on the bottom line.

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Why A Mobile App is a Must-Have for All P&C Carriers

June 13, 2018

Most insurers offer a digital insurance mobile app that provides digital proof of insurance and a way for customers to pay their premiums or file claims,” Elisa Silverman  <https://mobilebusinessinsights.com/2016/11/digital-insurance-apps-personalize-and-improve-experience-for-customers-and-agents/> wrote for Mobile Business Insights in 2016. “These features are all common now. Insurers that don’t offer similar tools are already behind.”

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How a Digital Platform Can Improve Operational Efficiencies for Insurers

June 06, 2018

In a 2009 interview with Insurance Journal, Juan Andrade  <https://www.insurancejournal.com/magazines/mag-ideaexchange/2009/02/22/157702.htm> of The Hartford ranked “improving operational efficiency” third on a list of essential priorities for P&C insurers, below both customer retention and a systematic sales approach.

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