Human resources, not claims nor underwriting, has been one of the leading topics at insurance industry conferences over the past decade. As the people who built and maintained the older, still prevalent technologies are retiring and leaving the workforce, they leave behind decades of knowledge about the inner-workings of the legacy programs that support the day-to-day insurance business.
The question that insurance management at all levels and in all career fields must answer is: who will replace the old work force?
Millennials will reshape not only how the work is done in an insurance company, but how the company should go to market, improve customer service, sell its products and through which channels. And that’s not all.
With the onset of the Patient Protection and Affordable Care Act, a whole new world of required technology has become necessary for carriers. Because the law has a plethora of unknowns, the role benefits advisors played in the last few years is going to dramatically change in 2014 and beyond.
When working adults turn 65, they have a lot of options about their health coverage. According to the Kaiser Family Foundation, currently about 25 percent of Medicare enrollees have opted for Medicare Part C, also known as the Medicare Advantage (MA) plan.
Cloud technology has the potential to become the “great equalizer” within the insurance industry. Small and mid-size companies are able to compete in a significantly larger arena with this type of enterprise system.
There are several associations, websites, newswires, blogs and publications providing current and in-depth information on the insurance industry. You probably already know about and follow your favorites. But where should you look for a comprehensive guide to all insurance industry publications out there?
Is it time for insurers to consider innovative plans to cover fatal vehicular tragedies during certain days of the year? As I scanned through this article on Forbes.com about the most dangerous holidays for drivers, I immediately began to consider the insurance implications.