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Your center for insurance and risk management tips, news and trends.

4 Trends That Will Reshape Insurance in 2017

Posted by Parker Beauchamp on Jan 27, 2017

Prediction posts are a dime a dozen. In reality, only a handful of key developments are going to matter in insurance throughout 2017. And while small in number—these impending changes have the ability to start a seismic shift in how the industry operates.

After dozens of conversations and meetings with industry leaders, upstart disruptors and tech giants interested in selling insurance this past year, I’ve personally seen four major trends gaining momentum. I predict 2017 is the year these trends will have a massively powerful impact on how insurance is priced, sold and distributed.

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Topics: INGUARD News

Letter from the CEO: How INGUARD Is Creating More Value for You in 2017

Posted by Parker Beauchamp on Jan 27, 2017

It’s shaping up to be an incredible 2017 for INGUARD clients. That’s because we’ve spent the past 36 months building an even better service organization and user experience for our clients. We’ve done this through a number of improvements and investments that make our clients and communities safer, richer and stronger.

These activities include business investments, philanthropic efforts and the clear defining of our company ethos. I’d like to give you a quick tour of these exciting developments—and show you exactly how they benefit you.

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Topics: INGUARD News

What Blockchain and Bitcoin Mean for the Insurance Industry

Posted by Parker Beauchamp on Jan 25, 2017

You may have heard the terms “blockchain” or “Bitcoin” used in tech circles over the past few years. These concepts, along with powerful use cases, are changing how we think about currency, transactions and contracts. In the process, they’re also changing how we think about the insurance industry.

These changes will have an impact on insurance carriers and agents, as well as how insurance is bought and sold. That means understanding blockchain and Bitcoin is important if you’re looking to win in the modern insurance industry. This post has you covered. It provides definitions of blockchain and Bitcoin, then breaks down why this information is important to insurance industry professionals.

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Topics: Insurance News & Trends

How to Kick Employee Theft to the Curb: Insurance Needs & Security Best Practices

Posted by Parker Beauchamp on Jan 17, 2017

Roughly $50 billion was stolen from U.S. businesses in 2015, and 75% of employees have stolen at least once from their employers, according to Statistic Brain Research Institute.

That’s a lot of lost resources and untrustworthy workers! But, what if we told you there was a way to avoid becoming one (or both) of these statistics?

Your business works hard to ensure it delivers the highest quality of services and products to customers. This can be difficult though, if you suffer from setbacks due to product or profit shrinkage. Loss due to employee theft can cause you to not have enough resources or funds necessary to keep your business operations running smoothly. But, by taking proper cautionary steps, you can kick employee theft to the curb before it even becomes an issue.

To avoid employee theft and loss to your business, it’s essential to have the proper security precautions and insurance coverages in place.

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Topics: Business Insurance, Risk Management

Insurance Companies Were Once Designed to Be Consumer Champions—How Far We’ve Fallen

Posted by Parker Beauchamp on Jan 11, 2017

This post originally appeared on The Huffington Post

It’s easy to forget, but once upon a time insurance was designed to provide major value to consumers, without the hassle experienced in today’s average insurance transaction. 

In ancient times, various forms of basic insurance occurred to protect sea voyages that lost or were forced to throw cargo overboard. Then, insurance was a compact between two or more parties for mutual gain.

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Topics: Insurance News & Trends