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Big I Buzz - March 1, 2023

Posted By IIAW Staff, Wednesday, March 1, 2023

Happy Wednesday! In this week's Big I Buzz, we are sharing two webinars that you won't want to miss PLUS findings from ACORD polls on future of the industry. 

Don't forget to take advantage of your IIAW membership to receive FREE CE! We are offering two webinars with continuing education credits that you can sign up for right now. 

1. Claims Handling: 2023 The Year of the Customer

9 a.m. to 10 a.m. on March 2

This webinar will review claim handling do's and don'ts for an independent agency. The session reminds an agency of the E&O risks of providing too much guidance to customers on how to handle a claim and whether there is coverage. The presenter, Jim Redeker, will utilize case examples, storytelling and data from one of the largest E&O carriers in the United States, Swiss Re Corporate Solutions. Register now for this webinar here

2. E&O Risk Management and Ethics: Less Risk. More Reward. (3 Ethics CE in WI)

9 a.m. to noon on March 8

Do you need Ethics credits? E&O Risk Management and Ethics: Less Risk. More Reward. is a live, virtual course full of storytelling, statistics and E&O risk mitigation tips presented by IIAW's Vice President, Mallory Cornell! This course is open to everyone. Register now for this webinar here

ACORD Polls Insurance Pros on Future of Industry

ACORD polled insurance professionals about their perspectives on the outline of the insurance industry over the next 20 years, according to Insurance Business Mag. 

Here are some of the key findings, according to the article: 

  • Nearly 50% of respondents anticipated that their greatest source of long-term competitive advantage would be the way in which they used technological capabilities. 
  • Survey respondents said that familiarity and proficiency with technology, from the C-suite down, will be increasingly important. 
  • Respondents anticipated a rise in the technology vs. people skew in their organizations' capability mix over the next 10 to 20 years, and 52% said technology would be the most critical competency for the C-suite by 2040.
  • APIs were widely considered the most important priority for the near to medium term with 24% name it among their top three areas of focus. 
  • AI and machine learning will be even higher priorities in 20 years than in 10 years, with quantum computing doubling in importance over the same period. 

Read more from this article here

For more news, check out the Actions News section of our weekly e-newsletter, Big I Buzz. Additionally, we send out monthly newsletters with content curated for you and your role. Make sure you're on the list to receive these monthly communications by heading to bit.ly/industrynewsforyou.

Tags:  big i buzz  insuring Wisconsin  wisconsin independent insurance association  wisconsin insurance agency help  wisconsin insurance blog 

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