Understand how Insurance Technology Application Development Process in insurance distribution and producer management solutions. Based on factors such as technical training and exposure, insurance IT departments staff and implementation experience, the success rate of Agile over Waterfall (42% vs 14%), the overall quality of delivery, and the development approach to the desired system.
As a licensed agent or producer, the requirements include bi-annual continuing education for licensure, annual carrier certification, product trainings, and AHIP/FFM. The producers must go through a re-certification process for each carrier with which they are contracted.
As for Tesla, the insurance companies that were asked to insure the Tesla cars did not have any knowledge of the true cost to insure the cars for this simple reason: they had no idea of the cost to repair the cars. With insurance companies not having any idea of the potential cost to repair a Tesla against a variety of accident scenarios, they began to guess the cost of repair.
Original Link: https://www.insuranceciooutlook.com/magazines/August2018/Broker_Management/#page=10
As a Millennial, I have been part of the Digital Transformation for companies in several industries. Regardless of the industry, I noticed that the business processes the companies used were not very productive. From multiple excel files to word documents, the processes were endless, causing miscommunication between departments and duplicating the efforts to achieve a single outcome.
The 39 most expensive drugs in the U.S. range from an annual cost of low $10,000’s to high $500,000’s,’ says John Sarich, VP of strategy at VUE Software. ‘They are designed to treat very serious medical conditions. It should be noted that pharmaceutical companies are international businesses with drug manufacturers.
Continuing growth of Medicare Advantage means competition as carriers drive Medicare Advantage enrollment growth by increasing internal sales teams and aggressively courting major Insurance Agencies to market their plans.