Exam Code: Property-and-Casualty Practice exam 2023 by Killexams.com team
Property-and-Casualty Property and Casualty Insurance
TOPIC: Overview of Insurance Operations
1. The candidate will understand how insurance companies are organized, their goals, how success is measured, and their functions.
Learning Outcomes
The candidate will be able to:
a) Explain how insurers have organized to provide property-casualty insurance
b) Describe the major goals of an insurer
c) Describe the internal and external constraints that impede insurers from achieving their major goals
d) Describe the measurements used to evaluate how successful an insurer is at meeting its established goals
e) Describe the core and supporting functions performed by insurers

TOPIC: Insurance Regulation
2. The candidate will understand the reasons for and the types of regulation.
Learning Outcomes
The candidate will be able to:
a) Describe the effect each of the following acts and legal decisions have had on insurance regulation: Paul v. Virginia, Sherman Antitrust Act, South-Eastern Underwriters Association, McCarran-Ferguson Act, Insurance Services Office and the Attorneys General Lawsuit, and Gramm-Leach-Bliley Act
b) Explain how insurance regulation protects consumers, contributes to maintaining insurer solvency, and assists in preventing destructive competition
c) Identify the regulatory activities of state insurance departments and the duties typically performed by state insurance commissioners
d) Describe the arguments for and against federal regulation of insurance
e) Describe the licensing requirements for insurers and insurance personnel
f) Describe the methods that regulators use to maintain the solvency of insurers and to manage insolvencies, and the reasons why insurers become insolvent
g) Describe the goals of insurance rate regulation, the major types of state rating laws, and the reasons supporting and opposing rate regulation
h) Explain how the contract language contained in insurance policies is regulated
i) Explain how the market conduct areas in insurance are regulated and how regulatory activities protect consumers
j) Explain how organizations that act as unofficial regulators affect insurance activities

TOPIC: Insurance Marketing and Distribution
3. The candidate will understand the insurance marketplace and marketing and distribution systems.
Learning Outcomes
The candidate will be able to:
a) Describe the following attributes of the competitive property-casualty insurance marketplace: distinguishing characteristics of insurance customers, insurer marketing differentiations, and unique factors in the insurance marketplace
b) Explain how typical insurer marketing activities are performed and why they are performed
c) Describe the main types of insurance distribution systems and channels, including the principal characteristics that distinguish one distribution system from another
d) Describe the functions performed by insurance producers
e) Describe the key factors an insurer should evaluate during the distribution-system and distribution-channel selection process

TOPIC: The Underwriting Function
4. The candidate will understand the purpose, role, and function of underwriting.
Learning Outcomes
The candidate will be able to:
a) Describe the purpose of underwriting
b) Describe the underwriting activities typically performed by line and staff underwriters
c) Describe the importance of compliance with underwriting authority in individual account selection
d) Describe the constraining factors considered in the establishment of underwriting policy
e) Describe the purposes that underwriting guidelines and underwriting audits serve
f) Describe the steps in the underwriting process
g) Explain how an insurers underwriting results are measured and how financial measures can be distorted

TOPIC: Underwriting Property and Liability Insurance
5. The candidate will understand the different policy considerations in underwriting property and liability insurance policies. Learning Outcomes
The candidate will be able to:
a) Describe in detail each of the COPE factors used to evaluate property loss exposures
b) Explain how insurable interest, policy provisions for valuing losses, and insurance to value affect a loss payment amount under property insurance
c) Explain how underwriters use policy amount, amount subject, normal loss expectancy (NLE), probable maximum loss (PML), and maximum foreseeable loss (MFL) to measure potential loss severity
d) Describe the underwriting considerations for business income and extra expense coverage
e) Describe the underwriting considerations and risk control techniques associated with employee dishonesty and crimes committed by others
f) Describe the loss exposures and the underwriting considerations for commercial general liability insurance
g) Describe the underwriting considerations for personal and commercial auto insurance
h) Describe the key underwriting considerations relevant to the evaluation of submissions for workers compensation insurance
i) Describe the underwriting considerations for umbrella and excess liability insurance

TOPIC: Risk Control and Premium Auditing
6. The candidate will understand the purpose and function of risk control and premium auditing.
Learning Outcomes
The candidate will be able to:
a) Describe the goals of insurer risk control activities
b) Describe the risk control services provided by insurers
c) Explain how risk control cooperates with other insurer functions
d) Explain why premium audits are conducted
e) Describe the premium auditing process
f) Explain why premium audits must be accurate
g) Explain how premium auditing contributes to other insurer functions

TOPIC: The Claim Function
7. The candidate will understand the claim function and related elements.
Learning Outcomes
The candidate will be able to:
a) Identify goals of the claim function, the users of claim information, and the parties with whom claim personnel interact
b) Describe the claim department structure, types and functions of claim personnel, and claim personnel performance measures
c) Describe the key activities in the claim handling process: Acknowledging and assigning the claim, Identifying the policy and setting reserves, Contracting the insured or the insureds representative, Investigating the claim, Documenting the claim, Determining the cause of loss, liability, and the loss amount, and Concluding the claim
d) Explain how the law of bad faith relates to an insurers duty of good faith and fair dealing and how the legal environment affects the law of bad faith
e) Describe the elements of good-faith claim handling

TOPIC: Adjusting Property and Liability Claims
8. The candidate will understand the claim handling process for property and liability claims.
Learning Outcomes
The candidate will be able to:
a) Explain how and why the activities in the framework for handling property claims are accomplished
b) Describe the challenges of handling various types of property claims: Residential dwelling, Residential personal property, Commercial structure, Business income, Merchandise, Transportation and bailment, and Catastrophe
c) Explain how and why the activities in the framework for handling a liability claim are accomplished
d) Describe the challenges of handling various types of liability claims: Auto bodily injury liability, Auto property damage, Premises liability, Operations liability, Products liability, Workers compensation, and Professional liability
e) Given a claim, determine coverage for a loss using the framework for coverage analysis and the activities in the claim handling process

TOPIC: Reinsurance
9. The candidate will understand the function and types of reinsurance and its application. Learning Outcomes
The candidate will be able to:
a) Describe reinsurance and its principal functions
b) Describe the three sources of reinsurance
c) Describe treaty reinsurance and facultative reinsurance
d) Describe the types of pro rata reinsurance and excess of loss reinsurance and their uses
e) Describe finite risk reinsurance and other methods that rely on capital markets as alternatives to traditional and non-traditional reinsurance
f) Describe the factors that should be considered in the design of a reinsurance program
g) Given a case, identify the reinsurance needs of an insurer and recommend an appropriate reinsurance program to address those needs
h) Explain how reinsurance is regulated

TOPIC: Personal Auto Policy
10. The candidate will understand the role of automobile insurance in society and the contents of the Personal Auto Policy. Learning Outcomes
The candidate will be able to:
a) Evaluate various laws and systems regarding approaches to compensating automobile accident victims: Tort liability system, Financial responsibility laws, Compulsory insurance laws, Uninsured motorists coverage, Underinsured motorists coverage, and No-fault insurance
b) Describe no-fault automobile laws in terms of their types and required benefits
c) Explain how high-risk drivers may obtain auto insurance
d) Describe automobile insurance rate regulation in terms of rating factors, matching price to exposure, competition, and other regulatory issues
e) Summarize the sections of the Personal Auto Policy
f) Identify the types of information typically contained on the declarations page of a personal auto policy
g) For each of Part A – Liability Coverage, Part B – Medical Payments Coverage, Part C – Uninsured Motorists Coverage, and Part D – Coverage for Damage to Your Auto: Summarize the provisions; given a case describing a claim, determine if that part of the coverage applies and, if so, the amount the insurer would pay for the claim
h) Describe underinsured motorist insurance in terms of its purpose and the ways in which it can vary by state
i) Describe the insureds duties following a covered auto accident or loss as shown in Part E
j) Summarize each of the general provisions in Part F
k) Describe the Personal Auto Policy endorsements that are used to handle common auto loss exposures
l) Given a case describing a claim, determine whether the Personal Auto Policy would cover the claim and, if so, the amount the insurer would pay for the claim

TOPIC: Homeowners Coverage
11. The candidate will understand the contents of the ISO Homeowners Program and describe some specialty plans. Learning Outcomes
The candidate will be able to:
a) Describe how individuals and families can use the ISO 2011 Homeowners insurance program to address their personal risk management needs
b) Summarize the structure of the Homeowners Policy (HO-3), key changes in the ISO 2011 program revision, and factors important to rating homeowners insurance
c) Determine whether the 2011 HO-3 policy provisions in Section I – Property Coverages provide coverage for a given loss or loss exposure: Coverage A – Dwelling, Coverage B – Other Structures, Coverage C – Personal Property, Coverage D – Loss of Use, and additional coverages
d) Summarize the 2011 HO-3 policy provisions concerning Perils Insured Against and Exclusions
e) Summarize each of the 2011 HO-3 policy provisions in Section I – Conditions
f) Given a scenario describing a homeowners property claim, determine whether the 2011 HO-3 Policy Section I – Property Coverages would cover the claim and, if so, the amount the insurer would pay for the claim
g) Determine whether the 2011 HO-3 policy provisions in Section II – Liability Coverage provide coverage for a given loss or loss exposure: Coverage E – Personal Liability, Coverage F – Medical Payments to Others, and additional coverages
h) Determine whether one or more exclusions preclude the coverage provided by Section II of the 2011 HO-3 policy provisions in Section II – Exclusions
i) Summarize the 2011 HO-3 policy provisions concerning Conditions applicable to Section II and Conditions applicable to Sections I and II
j) Given a case describing a homeowners liability claim, determine whether the 2011 HO-3 policy Section II – Liability Coverage would cover the claim, and if so, the amount the insurer would pay for the claim
k) Compare the coverage provided by each of the following 2011 Homeowners policies to the coverage provided by the 2011 HO-3 policy: HO-2 Broad Form, HO-5 Comprehensive Form, HO-4 Contents Broad Form, HO-6 Unit-Owners Form, and HO-8 Modified Coverage Form
l) Summarize the coverages provided by the various 2011 ISO Homeowners policy endorsements
m) Given a case describing a homeowners claim, determine whether a 2011 HO-3 Policy that may include one or more endorsements would cover the claim, and, if so, the amount the insurer would pay for the claim
n) Describe the operation of the National Flood Insurance Program and the coverage it provides
o) Describe the operation of FAIR plans and beachfront and windstorm plans and the coverage they provide

TOPIC: Commercial Property Insurance
12. The candidate will understand the nature of Commercial Property Insurance.
Learning Outcomes
The candidate will be able to:
a) Describe commercial property insurance in terms of the major categories of loss exposures that can be covered and the components of a commercial property coverage part
b) Determine whether a described item of property qualifies as Covered Property under one or more of these categories in the Building and Personal Property Coverage Form: Building, Your Business Personal Property, and Personal Property of Others
c) Determine which of the additional coverages and coverage extensions of the Building and Personal Property Coverage Form apply to a described loss
d) Determine whether the cause of a described loss is a covered cause of loss under the Causes of Loss – Basic Form or the Causes of Loss – Broad Form
e) Determine whether the cause of a described loss is a covered cause of loss under the Causes of Loss – Special Form
f) Apply the Limits of Insurance and Deductible provisions of the Building and Personal Property Coverage Form to a described loss
g) Explain how each of the Loss Conditions and Additional Conditions affects coverage under the Building and Personal Property Coverage Form
h) Explain how each of the following optional coverages described in the BPP modifies the basic coverage of the BPP: Agreed Value, Inflation Guard, Replacement Cost, and Extension of Replacement Cost to Personal Property of Others
i) Summarize each of the Commercial Property Conditions
j) Explain how each of the conditions contained in the Common Policy Conditions affects coverage under a commercial property coverage part
k) Explain how each of these documents modifies the Building and Personal Property Coverage Form: Ordinance or Law Coverage endorsement, Spoilage Coverage endorsement, Flood Coverage endorsement, Earthquake and Volcanic Eruption Coverage endorsement, Peak Season Limit of Insurance endorsement, and Value Reporting Form
l) Identify the factors that affect commercial property insurance premiums
m) Given a case, determine whether, and for what amount, a described loss would be covered by a commercial property coverage part that includes the Building and Personal Property Coverage Form and any of the three causes of loss forms

TOPIC: Commercial General Liability Insurance
13. The candidate will understand the nature of Commercial General Liability Insurance.
Learning Outcomes
The candidate will be able to:
a) Describe commercial general liability insurance in terms of the types of losses that can be covered by general liability insurance and the components of a commercial general liability coverage part
b) Determine whether a described claim meets the conditions imposed by the Coverage A insuring agreement of the Commercial General Liability Coverage Form (occurrence version)
c) Determine whether any of the exclusions applicable to Coverage A of the Commercial General Liability Coverage Form eliminate coverage for a described claim
d) Determine whether a described claim meets the conditions imposed by the Coverage B insuring agreement of the Commercial General Liability Coverage Form and whether any of the Coverage B exclusions eliminate coverage for the claim
e) Determine whether a described claim meets the conditions imposed by the Coverage C insuring agreement of the Commercial General Liability Coverage Form and whether any of the Coverage C exclusions eliminate coverage for the claim
f) Summarize the supplementary payments of the Commercial General Liability Coverage Form
g) Determine whether a described person or organization is an insured under the Commercial General Liability Coverage Form
h) Explain how the following limits of insurance in the CGL Coverage Form are applied: Each occurrence limit, Personal and advertising injury limit, Damage to premises rented to you limit, Medical expense limit, General aggregate limit, and Productscompleted operations aggregate limit
i) Apply the Commercial General Liability Conditions to claims or other interactions between the insurer and the insured
j) Explain how the premium for CGL coverage is determined
k) Given a case, determine whether, and for what amount, the Commercial General Liability Coverage Form (occurrence version) covers a described claim

TOPIC: Commercial Auto Insurance
14. The candidate will understand the nature of Commercial Auto Insurance.
Learning Outcomes
The candidate will be able to:
a) Describe commercial auto insurance in terms of the loss exposures that can be covered and the components of a commercial auto coverage part
b) Select the symbols needed to provide a described organization with appropriate commercial auto coverage(s) under the Business Auto Coverage Form
c) Summarize the provisions contained in Section II – Covered Autos Liability Coverage of the Business Auto Coverage Form
d) Summarize the provisions contained in Section III – Physical Damage of the Business Auto Coverage Form
e) Describe the conditions contained in the business Auto Coverage form
f) Describe the following coverages that may added by endorsement to the Business Auto Coverage Form: medical payments, personal injury protection and added personal injury protection, and uninsured and underinsured motorists
g) Explain how private passenger vehicles and trucks, tractors, and trailers are rated for commercial auto coverage
h) Given a case, determine whether, and for what amount, the Business Auto Coverage Form covers a described claim

TOPIC: Workers Compensation and Employers
Liability Insurance
15. The candidate will understand workers compensation and employers liability coverages.
Learning Outcomes
The candidate will be able to:
a) Describe workers compensation statutes in terms of: Basic purpose, Benefits provided, and Persons and employments covered
b) Describe workers compensation statutes in terms of: Extraterritorial provisions, Federal jurisdiction, and Methods for meeting employers obligations
c) Summarize these sections of the Workers Compensation and Employers Liability Insurance Policy: Information Page, General Section, and Part One – Workers Compensation Insurance
d) Explain why employers liability insurance is needed and how the Workers Compensation and Employers Liability Insurance Policy addresses this need
e) Describe the purpose and operation of Part Three – Other States Insurance in the Workers Compensation and Employers Liability Insurance Policy
f) Describe the need for and the coverage provided by the Voluntary Compensation and Employers Liability Coverage Endorsement and the Longshore and Harbor Workers Compensation Act Coverage Endorsement
g) Explain how premium bases, classifications, and premium adjustments affect the rating of workers compensation insurance
h) Given a case, determine whether the Workers Compensation and Employers Liability Insurance Policy covers a described injury or illness and, if so, what types of benefits or what amount of damages is covered

TOPIC: Specialty Coverages
16. The candidate will understand various specialty coverages.
Learning Outcomes
The candidate will be able to:
a) Describe commercial excess liability insurance and commercial umbrella liability insurance in terms of: The three basic types of commercial excess liability insurance and The provisions commonly found in commercial umbrella liability policies that distinguish them from other types of commercial liability policies
b) Describe professional liability insurance and management liability insurance in terms of: How they differ from each other, How they differ from commercial general liability policies, and The common types of professional and management liability policies
c) Describe the purpose and characteristics of each of these types of environmental insurance policies: Site-specific environmental impairment liability (EIL) policies, Underground storage tank compliance policies, Remediation stop-loss policies, Contractors pollution liability policies, and Environmental professional errors and omissions liability policies
d) Describe aircraft insurance in terms of: The purpose-of-use categories that insurers use to classify aircraft and The coverages that can be included in an aircraft policy
e) Describe the types of losses that can be covered by each of the insuring agreements generally available in cyber risk insurance policies
f) Explain how an organization domiciled in the United States can insure foreign loss exposures that would not be covered under standard property and liability insurance policies
g) Summarize the purpose and provisions of the terrorism endorsements developed by Insurance Services Office, Inc., and the National Council on Compensation Insurance, Inc.
h) Summarize the certain provided by the particular types of surety bonds within the following bond classifications: Contract bonds, License and permit bonds, Public official bonds, Court bonds, and Miscellaneous bonds
Property and Casualty Insurance
P-and-C Insurance approach
Killexams : P-and-C Insurance approach - BingNews https://killexams.com/pass4sure/exam-detail/Property-and-Casualty Search results Killexams : P-and-C Insurance approach - BingNews https://killexams.com/pass4sure/exam-detail/Property-and-Casualty https://killexams.com/exam_list/P-and-C Killexams : P and C Insurance Software Market 2023 (New Report): Size is set to Grow at an Outstanding Pace in the Upcoming Years till 2029

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Jan 25, 2023 (The Expresswire) -- Global P and C Insurance Software MarketNEW UPDATED REPORT 2023 presents a trusted overview of the current market situation and forecast till 2029. The study is perhaps a perfect mixture of qualitative and quantitative information highlighting key market developments, challenges, competition industry analysis, and new opportunities available and trends within the P and C Insurance Software Market. Further, this report gives P and C Insurance Software Market size, exact trends, growth, share, development status, market dynamics, cost structure, and competitive landscape. The research report also includes the present market and its growth potential in the given period of forecast. An exhaustive and professional study of the global P and C Insurance Software market report has been completed by industry professionals and presented in the most particular manner to present only the details that matter the most. The report mainly focuses on the most dynamic information on the global market.

Global P and C Insurance Software Market Research Report 2023 is spread across124pages and provides Size, Share, Growth, and Forecast with exclusive vital statistics, data, information, trends, and competitive landscape details in this niche sector.

P and C Insurance Software Market research report offers New Insight updates on Business Strategies including Mergers, Acquisitions, Partnerships, R and D, Expansion Plans and Collaborations adopted by these Major Global Players, Revenue by Type (Cloud-based, On-premises), Forecasted Market Size by Application (Large Enterprises(1000+ Users), Medium-Sized Enterprise(499-1000 Users), Small Enterprises(1-499 Users)) Ask for demo Report

The global P and C Insurance Software market size is segmented on the basis of application, end user, and region, with focus on manufacturers in different regions. The study has detailed the analysis of different factors that increase the industries growth. This study also provides the scope of different segments and applications that can potentially influence the industry in the future. Pricing analysis is covered in this report according to each type, manufacturer, regional analysis, price. P and C Insurance Software Market Share report provides overview of market value structure, cost drivers, various driving factors and analyze industry atmosphere, then studies global outline of industry size, demand, application, revenue, product, region and segments. In addition, this report introduces market competition situation among the distributers and manufacturers profile, besides, market value analysis and cost chain structure are covered in this report.

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Brief Description of P and C Insurance Software Market:

The P and C Insurance Software market revenue was Million USD in 2016, grew to Million USD in 2021, and will reach Million USD in 2026, with a CAGR of during 2021-2026.Considering the influence of COVID-19 on the global P and C Insurance Software market, this report analyzed the impact from both global and regional perspectives. From production end to consumption end in regions such as North America, Europe, China, and Japan, the report put emphasis on analysis of market under COVID-19 and corresponding response policy in different regions.This report also analyzes the strategies for different companies to deal with the impact of COVID-19 in detail to seek a path to recovery.

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TOP Manufactures in P and C Insurance Software Market are: -

● ELEMENT Insurance ● Owsy ● Vue ● Silvervine ● Tigerlab ● Insurance Systems ● Pegasystems ● StoneRiver ● Adaptik ● OneShield ● Gryphon Networks ● Quick Silver Systems ● Jenesis Software ● Agency Software ● Zywave ● Guidewire Software ● WaterStreet ● InsureCert Systems ● VRC Insurance Systems

P and C Insurance Software Market Forecast by regions, type and application, with sales and revenue, from 2021 to 2029. P and C Insurance Software Market Share, distributors, major suppliers, changing price patterns and the supply chain of raw materials is highlighted in the report.P and C Insurance Software Market Size report provides important information regarding the total valuation that this industry holds presently and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.This Report Focuses on the P and C Insurance Software Market manufacturers, to study the sales, value, market share and development plans in the future. It is Define, describe and forecast the P and C Insurance Software Market Growth by type, application, and region to Study the global and key regions market potential and advantage, opportunity and challenge, restraints and risks. Know significant trends and factors driving or inhibiting the P and C Insurance Software Market growth opportunities in the market for stakeholders by identifying the high growth segments. Strategically it examines each submarket with respect to individual growth trend and their contribution to the P and C Insurance Software Market.

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On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into

● Cloud-based ● On-premises

On the basis of the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate for each application, including

● Large Enterprises(1000+ Users) ● Medium-Sized Enterprise(499-1000 Users) ● Small Enterprises(1-499 Users)

The Global P and C Insurance Software Market Trends,development and marketing channels are analysed. Finally, the feasibility of new investment projects is assessed and overall research conclusions offered.The global P and C Insurance Software Market Growth is anticipated to rise at a considerable rate during the forecast period, between 2021 and 2029. In 2021, the market was growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

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P and C Insurance Software Market Trend for Development and marketing channels are analysed. Finally, the feasibility of new investment projects is assessed and overall research conclusions offered. P and C Insurance Software Market Report also mentions market share accrued by each product in the P and C Insurance Software market, along with the production growth.

Regions are covered in Chapter 5, 6, 7, 8, 9, 10, 13:

North America (Covered in Chapter 6 and 13)

Europe (Covered in Chapter 7 and 13)

Asia-Pacific (Covered in Chapter 8 and 13)

Middle East and Africa (Covered in Chapter 9 and 13)

South America (Covered in Chapter 10 and 13)

Answers That the P and C Insurance Software Market Report Acknowledges:

    Chapters Included in P and C Insurance Software Market Report: -

    Chapter 1 mainly defines the P and C Insurance Software market scope and introduces the macro overview of the industry, with an executive summary of different market segments ((by type, application, region, etc.), including the definition, market size, and trend of each market segment.

    Chapter 2 provides a qualitative analysis of the current status and future trends of the market. Industry Entry Barriers, market drivers, market challenges, emerging markets, consumer preference analysis, together with the impact of the COVID-19 outbreak will all be thoroughly explained.

    Chapter 3 analyzes the current competitive situation of the P and C Insurance Software market by providing data regarding the players, including their sales volume and revenue with corresponding market shares, price and gross margin. In addition, information about market concentration ratio, mergers, acquisitions, and expansion plans will also be covered.

    Chapter 4 focuses on the regional market, presenting detailed data (i.e., sales volume, revenue, price, gross margin) of the most representative regions and countries in the world.

    Chapter 5 provides the analysis of various market segments according to product types, covering sales volume, revenue market share and growth rate, plus the price analysis of each type.

    Chapter 6 shows the breakdown data of different applications, including the consumption and revenue with market share and growth rate, with the aim of helping the readers to take a close-up look at the downstream market.

    Chapter 7 provides a combination of quantitative and qualitative analyses of the market size and development trends in the next five years. The forecast information of the whole, as well as the breakdown market, offers the readers a chance to look into the future of the industry.

    Chapter 8 is the analysis of the whole market industrial chain, covering key raw materials suppliers and price analysis, manufacturing cost structure analysis, alternative product analysis, also providing information on major distributors, downstream buyers, and the impact of the COVID-19 pandemic.

    Chapter 9 shares a list of the key players in the market, together with their basic information, product profiles, market performance (i.e., sales volume, price, revenue, gross margin), exact development, SWOT analysis, etc.

    Chapter 10 is the conclusion of the report which helps the readers, to sum up the main findings and points.

    Chapter 11 introduces the P and C Insurance Software market research methods and data sources.

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    Some of the Key Questions Answered in this Report:

    ● What is the P and C Insurance Software market size at the regional and country-level? ● What are the key drivers, restraints, opportunities, and challenges of the P and C Insurance Software market, and how they are expected to impact the market? ● What is the global (North America, Europe, Asia-Pacific, South America, Middle East and Africa) sales value, production value, consumption value, import and export of P and C Insurance Software? ● Who are the global key manufacturers of the P and C Insurance Software Industry? How is their operating situation (capacity, production, sales, price, cost, gross, and revenue)? ● What are the P and C Insurance Software market opportunities and threats faced by the vendors in the global P and C Insurance Software Industry? ● Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application? ● What focused approach and constraints are holding the P and C Insurance Software market? ● What are the different sales, marketing, and distribution channels in the global industry? ● What are the upstream raw materials and manufacturing equipment of P and C Insurance Software along with the manufacturing process of P and C Insurance Software? ● What are the key market trends impacting the growth of the P and C Insurance Software market? ● Economic impact on the P and C Insurance Software industry and development trend of the P and C Insurance Software industry. ● What are the P and C Insurance Software market opportunities, market risk, and market overview of the P and C Insurance Software market?

    Detailed TOC of Global P and C Insurance Software Market Development Strategy Pre and Post COVID-19, by Corporate Strategy Analysis, Landscape, Type, Application, and Leading 20 Countries

    1 P and C Insurance Software Introduction and Market Overview
    1.1 Objectives of the Study
    1.2 Overview of P and C Insurance Software
    1.3 P and C Insurance Software Market Scope and Market Size Estimation
    1.3.1 Market Concentration Ratio and Market Maturity Analysis
    1.3.2 Global P and C Insurance Software Revenue and Growth Rate from 2016-2026
    1.4 Market Segmentation
    1.4.1 Types of P and C Insurance Software
    1.4.2 Applications of P and C Insurance Software
    1.4.3 Research Regions
    1.5 Market Dynamics
    1.5.1 P and C Insurance Software Industry Trends
    1.5.2 P and C Insurance Software Drivers
    1.5.3 P and C Insurance Software Market Challenges
    1.5.4 P and C Insurance Software Market Restraints
    1.6 Industry News and Policies by Regions
    1.6.1 Industry News
    1.6.2 Industry Policies
    1.7 Mergers and Acquisitions, Expansion Plans
    1.8 P and C Insurance Software Industry Development Trends under COVID-19 Outbreak
    1.8.1 Global COVID-19 Status Overview
    1.8.2 Influence of COVID-19 Outbreak on P and C Insurance Software Industry Development

    2 Industry Chain Analysis
    2.1 Upstream Raw Material Supply and Demand Analysis
    2.1.1 Global P and C Insurance Software Major Upstream Raw Material and Suppliers
    2.1.2 Raw Material Source Analysis
    2.2 Major Players of P and C Insurance Software
    2.2.1 Major Players Manufacturing Base of P and C Insurance Software in 2020
    2.2.2 Major Players Market Distribution in 2020
    2.3 P and C Insurance Software Manufacturing Cost Structure Analysis
    2.3.1 Production Process Analysis
    2.3.2 Manufacturing Cost Structure of P and C Insurance Software
    2.3.3 Labor Cost of P and C Insurance Software
    2.4 Market Channel Analysis of P and C Insurance Software
    2.5 Major Down Stream Customers by Application

    3 Global P and C Insurance Software Market, by Type
    3.1 Global P and C Insurance Software Revenue and Market Share by Type (2016-2021)
    3.2 Global P and C Insurance Software Production and Market Share by Type (2016-2021)
    3.3 Global P and C Insurance Software Revenue and Growth Rate by Type (2016-2021)
    3.3.1 Global P and C Insurance Software Revenue and Growth Rate of Cloud-based
    3.3.2 Global P and C Insurance Software Revenue and Growth Rate of On-premises
    3.4 Global P and C Insurance Software Price Analysis by Type (2016-2021)
    3.4.1 Explanation of Different Type Product Price Trends

    4 P and C Insurance Software Market, by Application
    4.1 Downstream Market Overview
    4.2 Global P and C Insurance Software Consumption and Market Share by Application (2016-2021)
    4.3 Global P and C Insurance Software Consumption and Growth Rate by Application (2016-2021)
    4.3.1 Global P and C Insurance Software Consumption and Growth Rate of Large Enterprises(1000+ Users) (2016-2021)
    4.3.2 Global P and C Insurance Software Consumption and Growth Rate of Medium-Sized Enterprise(499-1000 Users) (2016-2021)
    4.3.3 Global P and C Insurance Software Consumption and Growth Rate of Small Enterprises(1-499 Users) (2016-2021)

    5 Global P and C Insurance Software Consumption, Revenue ($) by Region (2016-2021)
    5.1 Global P and C Insurance Software Revenue and Market Share by Region (2016-2021)
    5.2 Global P and C Insurance Software Consumption and Market Share by Region (2016-2021)
    5.3 Global P and C Insurance Software Consumption, Revenue, Price and Gross Margin (2016-2021)
    5.4 North America P and C Insurance Software Consumption, Revenue, Price and Gross Margin (2016-2021)
    5.4.1 North America P and C Insurance Software Market Under COVID-19
    5.4.2 North America P and C Insurance Software SWOT Analysis
    5.5 Europe P and C Insurance Software Consumption, Revenue, Price and Gross Margin (2016-2021)
    5.5.1 Europe P and C Insurance Software Market Under COVID-19
    5.5.2 Europe P and C Insurance Software SWOT Analysis
    5.6 China P and C Insurance Software Consumption, Revenue, Price and Gross Margin (2016-2021)
    5.6.1 China P and C Insurance Software Market Under COVID-19
    5.6.2 China P and C Insurance Software SWOT Analysis
    5.7 Japan P and C Insurance Software Consumption, Revenue, Price and Gross Margin (2016-2021)
    5.7.1 Japan P and C Insurance Software Market Under COVID-19
    5.7.2 Japan P and C Insurance Software SWOT Analysis
    5.8 Middle East and Africa P and C Insurance Software Consumption, Revenue, Price and Gross Margin (2016-2021)
    5.8.1 Middle East and Africa P and C Insurance Software Market Under COVID-19
    5.8.2 Middle East and Africa P and C Insurance Software SWOT Analysis
    5.9 India P and C Insurance Software Consumption, Revenue, Price and Gross Margin (2016-2021)
    5.9.1 India P and C Insurance Software Market Under COVID-19
    5.9.2 India P and C Insurance Software SWOT Analysis
    5.10 South America P and C Insurance Software Consumption, Revenue, Price and Gross Margin (2016-2021)
    5.10.1 South America P and C Insurance Software Market Under COVID-19
    5.10.2 South America P and C Insurance Software SWOT Analysis
    5.11 South Korea P and C Insurance Software Consumption, Revenue, Price and Gross Margin (2016-2021)
    5.11.1 South Korea P and C Insurance Software Market Under COVID-19
    5.11.2 South Korea P and C Insurance Software SWOT Analysis
    5.12 Southeast Asia P and C Insurance Software Consumption, Revenue, Price and Gross Margin (2016-2021)
    5.12.1 Southeast Asia P and C Insurance Software Market Under COVID-19
    5.12.2 Southeast Asia P and C Insurance Software SWOT Analysis

    6 Global P and C Insurance Software Production by Top Regions (2016-2021)
    6.1 Global P and C Insurance Software Production by Top Regions (2016-2021)
    6.2 North America P and C Insurance Software Production and Growth Rate
    6.3 Europe P and C Insurance Software Production and Growth Rate
    6.4 China P and C Insurance Software Production and Growth Rate
    6.5 Japan P and C Insurance Software Production and Growth Rate
    6.6 India P and C Insurance Software Production and Growth Rate

    7 Global P and C Insurance Software Consumption by Regions (2016-2021)
    7.1 Global P and C Insurance Software Consumption by Regions (2016-2021)
    7.2 North America P and C Insurance Software Consumption and Growth Rate
    7.3 Europe P and C Insurance Software Consumption and Growth Rate
    7.4 China P and C Insurance Software Consumption and Growth Rate
    7.5 Japan P and C Insurance Software Consumption and Growth Rate
    7.6 Middle East and Africa P and C Insurance Software Consumption and Growth Rate
    7.7 India P and C Insurance Software Consumption and Growth Rate
    7.8 South America P and C Insurance Software Consumption and Growth Rate
    7.9 South Korea P and C Insurance Software Consumption and Growth Rate
    7.10 Southeast Asia P and C Insurance Software Consumption and Growth Rate

    8 Competitive Landscape
    8.1 Competitive Profile
    8.2 ELEMENT Insurance Market Performance Analysis
    8.2.1 Company Profiles
    8.2.2 P and C Insurance Software Product Profiles, Application and Specification
    8.2.3 ELEMENT Insurance Sales, Revenue, Price, Gross Margin 2016-2021
    8.2.4 Company exact Development
    8.2.5 Strategies for Company to Deal with the Impact of COVID-19
    8.3 Owsy Market Performance Analysis
    8.3.1 Company Profiles
    8.3.2 P and C Insurance Software Product Profiles, Application and Specification
    8.3.3 Owsy Sales, Revenue, Price, Gross Margin 2016-2021
    8.3.4 Company exact Development
    8.3.5 Strategies for Company to Deal with the Impact of COVID-19
    8.4 Vue Market Performance Analysis
    8.4.1 Company Profiles
    8.4.2 P and C Insurance Software Product Profiles, Application and Specification
    8.4.3 Vue Sales, Revenue, Price, Gross Margin 2016-2021
    8.4.4 Company exact Development
    8.4.5 Strategies for Company to Deal with the Impact of COVID-19
    8.5 Silvervine Market Performance Analysis
    8.5.1 Company Profiles
    8.5.2 P and C Insurance Software Product Profiles, Application and Specification
    8.5.3 Silvervine Sales, Revenue, Price, Gross Margin 2016-2021
    8.5.4 Company exact Development
    8.5.5 Strategies for Company to Deal with the Impact of COVID-19
    8.6 Tigerlab Market Performance Analysis
    8.6.1 Company Profiles
    8.6.2 P and C Insurance Software Product Profiles, Application and Specification
    8.6.3 Tigerlab Sales, Revenue, Price, Gross Margin 2016-2021
    8.6.4 Company exact Development
    8.6.5 Strategies for Company to Deal with the Impact of COVID-19
    8.7 Insurance Systems Market Performance Analysis
    8.7.1 Company Profiles
    8.7.2 P and C Insurance Software Product Profiles, Application and Specification
    8.7.3 Insurance Systems Sales, Revenue, Price, Gross Margin 2016-2021
    8.7.4 Company exact Development
    8.7.5 Strategies for Company to Deal with the Impact of COVID-19
    8.8 Pegasystems Market Performance Analysis
    8.8.1 Company Profiles
    8.8.2 P and C Insurance Software Product Profiles, Application and Specification
    8.8.3 Pegasystems Sales, Revenue, Price, Gross Margin 2016-2021
    8.8.4 Company exact Development
    8.8.5 Strategies for Company to Deal with the Impact of COVID-19
    8.9 StoneRiver Market Performance Analysis
    8.9.1 Company Profiles
    8.9.2 P and C Insurance Software Product Profiles, Application and Specification
    8.9.3 StoneRiver Sales, Revenue, Price, Gross Margin 2016-2021
    8.9.4 Company exact Development
    8.9.5 Strategies for Company to Deal with the Impact of COVID-19
    8.10 Adaptik Market Performance Analysis
    8.10.1 Company Profiles
    8.10.2 P and C Insurance Software Product Profiles, Application and Specification
    8.10.3 Adaptik Sales, Revenue, Price, Gross Margin 2016-2021
    8.10.4 Company exact Development
    8.10.5 Strategies for Company to Deal with the Impact of COVID-19
    8.11 OneShield Market Performance Analysis
    8.11.1 Company Profiles
    8.11.2 P and C Insurance Software Product Profiles, Application and Specification
    8.11.3 OneShield Sales, Revenue, Price, Gross Margin 2016-2021
    8.11.4 Company exact Development
    8.11.5 Strategies for Company to Deal with the Impact of COVID-19
    8.12 Gryphon Networks Market Performance Analysis
    8.12.1 Company Profiles
    8.12.2 P and C Insurance Software Product Profiles, Application and Specification
    8.12.3 Gryphon Networks Sales, Revenue, Price, Gross Margin 2016-2021
    8.12.4 Company exact Development
    8.12.5 Strategies for Company to Deal with the Impact of COVID-19
    8.13 Quick Silver Systems Market Performance Analysis
    8.13.1 Company Profiles
    8.13.2 P and C Insurance Software Product Profiles, Application and Specification
    8.13.3 Quick Silver Systems Sales, Revenue, Price, Gross Margin 2016-2021
    8.13.4 Company exact Development
    8.13.5 Strategies for Company to Deal with the Impact of COVID-19
    8.14 Jenesis Software Market Performance Analysis
    8.14.1 Company Profiles
    8.14.2 P and C Insurance Software Product Profiles, Application and Specification
    8.14.3 Jenesis Software Sales, Revenue, Price, Gross Margin 2016-2021
    8.14.4 Company exact Development
    8.14.5 Strategies for Company to Deal with the Impact of COVID-19
    8.15 Agency Software Market Performance Analysis
    8.15.1 Company Profiles
    8.15.2 P and C Insurance Software Product Profiles, Application and Specification
    8.15.3 Agency Software Sales, Revenue, Price, Gross Margin 2016-2021
    8.15.4 Company exact Development
    8.15.5 Strategies for Company to Deal with the Impact of COVID-19
    8.16 Zywave Market Performance Analysis
    8.16.1 Company Profiles
    8.16.2 P and C Insurance Software Product Profiles, Application and Specification
    8.16.3 Zywave Sales, Revenue, Price, Gross Margin 2016-2021
    8.16.4 Company exact Development
    8.16.5 Strategies for Company to Deal with the Impact of COVID-19
    8.17 Guidewire Software Market Performance Analysis
    8.17.1 Company Profiles
    8.17.2 P and C Insurance Software Product Profiles, Application and Specification
    8.17.3 Guidewire Software Sales, Revenue, Price, Gross Margin 2016-2021
    8.17.4 Company exact Development
    8.17.5 Strategies for Company to Deal with the Impact of COVID-19
    8.18 WaterStreet Market Performance Analysis
    8.18.1 Company Profiles
    8.18.2 P and C Insurance Software Product Profiles, Application and Specification
    8.18.3 WaterStreet Sales, Revenue, Price, Gross Margin 2016-2021
    8.18.4 Company exact Development
    8.18.5 Strategies for Company to Deal with the Impact of COVID-19
    8.19 InsureCert Systems Market Performance Analysis
    8.19.1 Company Profiles
    8.19.2 P and C Insurance Software Product Profiles, Application and Specification
    8.19.3 InsureCert Systems Sales, Revenue, Price, Gross Margin 2016-2021
    8.19.4 Company exact Development
    8.19.5 Strategies for Company to Deal with the Impact of COVID-19
    8.20 VRC Insurance Systems Market Performance Analysis
    8.20.1 Company Profiles
    8.20.2 P and C Insurance Software Product Profiles, Application and Specification
    8.20.3 VRC Insurance Systems Sales, Revenue, Price, Gross Margin 2016-2021
    8.20.4 Company exact Development
    8.20.5 Strategies for Company to Deal with the Impact of COVID-19

    9 Global P and C Insurance Software Market Analysis and Forecast by Type and Application
    9.1 Global P and C Insurance Software Market Revenue and Volume Forecast, by Type (2021-2026)
    9.1.1 Cloud-based Market Revenue and Volume Forecast (2021-2026)
    9.1.2 On-premises Market Revenue and Volume Forecast (2021-2026)
    9.2 Global P and C Insurance Software Market Revenue and Volume Forecast, by Application (2021-2026)
    9.2.1 Large Enterprises(1000+ Users) Market Revenue and Volume Forecast (2021-2026)
    9.2.2 Medium-Sized Enterprise(499-1000 Users) Market Revenue and Volume Forecast (2021-2026)
    9.2.3 Small Enterprises(1-499 Users) Market Revenue and Volume Forecast (2021-2026)

    10 P and C Insurance Software Market Supply and Demand Forecast by Region
    10.1 North America Market Supply and Demand Forecast (2021-2026)
    10.2 Europe Market Supply and Demand Forecast (2021-2026)
    10.3 China Market Supply and Demand Forecast (2021-2026)
    10.4 Japan Market Supply and Demand Forecast (2021-2026)
    10.5 Middle East and Africa Market Supply and Demand Forecast (2021-2026)
    10.6 India Market Supply and Demand Forecast (2021-2026)
    10.7 South America Market Supply and Demand Forecast (2021-2026)
    10.8 South Korea Market Supply and Demand Forecast (2021-2026)
    10.9 Southeast Asia Market Supply and Demand Forecast (2021-2026)
    10.10 Explanation of Market Size Trends by Region
    10.11 P and C Insurance Software Market Trends Analysis

    11 New Project Feasibility Analysis
    11.1 Industry Barriers and New Entrants SWOT Analysis
    11.2 Analysis and Suggestions on New Project Investment

    12 Expert Interview Record
    13 Research Finding and Conclusion
    14 Appendix
    14.1 Methodology
    14.2 Research Data Source
     

    ……Continued

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 Tue, 24 Jan 2023 16:19:00 -0600 en-US text/html https://www.marketwatch.com/press-release/p-and-c-insurance-software-market-2023-new-report-size-is-set-to-grow-at-an-outstanding-pace-in-the-upcoming-years-till-2029-2023-01-25 Killexams : Top 3 Technologies to Drive Insurance Industry in 2023
  • Vivek Agarwal, President at BFSI, HLS and Corporate Development, Tech Mahindra

  • 18.02.2023 05:15 am
    • #insurance

Insurers were forced to take the pandemic in their stride. Whether it was enabling their vast workforces to be productive from home, or ensuring clients and employees felt supported, many, through sheer grit and determination, have emerged stronger on the other side.

The key to success was the rapid deployment of digital tools to address virtual sales, drive greater collaboration, and upgrade networks and enterprise security - in short, keep their businesses operating as usual in remarkable and unknown circumstances. The pandemic catalysed the need for CEOs and boards to invest in new technology right across their organisation. While many had been on the digital transformation pathway for years, the pandemic served as a vital wake-up call that they needed to move faster.

According to KPMG, 85% of insurance company CEOs say COVID-19 accelerated the digitisation of operations, while almost four in five believe the pandemic brought a new sense of urgency to create new business models and revenue streams. As per McKinsey Global Insurance Pool Statistics, within the last two years, digital sales have outpaced telephonic sales across the life and property & casualty (P&C) businesses.

Historically, the insurance industry has been slow to embrace change, so acknowledging the necessity of digital transformation is a step in the right direction. Embracing change will allow insurers to keep pace with their customers, who have already moved forward and are becoming increasingly comfortable with buying policies online.      Recent industry reports indicate that millennials want personalised insurance policies. High-quality digital experiences should be standard. 

Acknowledging the need for digital transformation, however, is just one small part of the journey. Knowing how to select the right technologies to spearhead the revolution is a different story altogether. While a handful of businesses have succeeded, many lack a coherent view of the key technologies to focus on implementing, while almost a third struggle with quick decision-making. 

For the organisations who are yet to initiate full-scale digital transformation, here are three of the biggest technology trends disrupting the insurance sector.

Cloudification

An increasing number of insurance providers are harnessing cloud capabilities for both their core and noncore workloads. Hybrid and multi-cloud approaches are becoming prevalent. This shift, along with legacy decommissioning, helps businesses to reduce both capital expenditure and operational expenses and allows them to be agile and responsive enough to keep pace with the rapidly changing marketplace. 

In our personal experience with large-scale cloud migration and infrastructure consolidation, insurers can expect to benefit up to 25% of the total cost of ownership (TCO). In many cases, these savings are imperative to justify the business case and fund further transformation. 

Cloud technologies can aid and Boost governance and compliance, minimising risk for businesses in a changing regulatory landscape. The solutions are now so sophisticated that they are more reliable than traditional, manual solutions, offering the flexibility, agility, and scalability required to meet changing customer expectations. Cloud platforms also offer secure data storage which can be accessed from anywhere, enabling businesses to harness intelligent automation and advanced data and analytics - two trends we discuss below.

Intelligent automation

In a year likely to be defined by fine margins, intelligent automation can boost business efficiency and create smart processes. For insurance businesses, intelligent automation can significantly save time, thus creating operational cost efficiencies - for example, automation can reduce the cost of a claim journey by 30%. Generating sales leads and processing high-frequency low cost claims are two areas ripe for automation. Staff can spend less time analysing data, and reallocate their time to more meaningful, higher-order work. 

Subsectors such as the global reinsurance market are under increasing pressure due to factors like everchanging capital adequacy requirements, frequent weather events leading to higher claims, and the changing business environment due to geopolitical and economic issues. Intelligent automation solutions can enable reinsurers to Boost their profit margins and offer value-added services such as improved underwriting margins, lower expense ratios to customers.

However, achieving a high degree of automation requires profound changes to IT architecture, as every layer of operations is affected. For example, policy administration and claims systems must be overhauled in response to a higher overall level of IT intensity, the introduction of new robotics and script systems, or updated workflow engines. 

Data & analytics

In-house and third-party data has become insurers’ most valuable asset. A rapidly digitising society is ramping up the number of touchpoints that generate data - be it government, environmental, individual, or even location data. This can be used to enhance the capabilities of big data, artificial intelligence, machine learning, deep learning, and other complementary technologies like robotic process automation (RPA).

Best-in-class insurance companies are already developing and deploying these intelligent decision support mechanisms to augment and transform customer service, underwriting, pricing, claims, and many other ancillary functions. It’s reported by McKinsey that, with advanced data and analytics capabilities, the leading insurers saw loss ratios Boost three to five points, new business premiums increase 10 to 15%, and retention in profitable segments jump 5 to 10%, thanks to digitised underwriting.

The use cases can be as diverse as life & annuity (L&A) insurers predicting customer behaviour, identifying lapse patterns, and improving cross-selling capabilities; P&C insurers focusing on fraud analytics and reinsurers focusing on claims automation; and insurance firms focusing on increasing profitability. As such, taking the steps to build new infrastructure and invest in new models will add a competitive edge for insurance companies. 

The rewards of a digitised insurance sector are numerous. Intelligent automation, improved data analytics and cloudification will help companies not only grow and become more resilient but meet rapidly changing market demands with secure and scalable infrastructure. A sustainable transformation approach tying together initiatives will go a long way to achieve these outcomes. The onus is now on insurance companies to establish this, move swiftly and unlock the benefits that will undoubtedly shape the defining businesses of the future.

 Fri, 17 Feb 2023 16:46:00 -0600 en text/html https://financialit.net/blog/insurance/top-3-technologies-drive-insurance-industry-2023 Killexams : How USAA Continues To Set An Industry Standard For Data Driven Leadership

No wonder NFL legend Rob Gronkowski (Gronk!) wants so hard to become a USAA member. USAA has long been a leader in providing financial services to its members. USAA has also demonstrated a long history of being home to some of the best data and analytics leaders in the profession. These data and analytics leaders have gone on to hold data and analytics leadership roles at companies including Wells Fargo, Nationwide, Invesco, Envestnet, General Motors, Microsoft, and Facebook.

Founded in 1922 by a group of military officers, USAA is among the leading providers of insurance, banking and investment and retirement solutions to nearly 13 million members of the U.S. military, veterans who have honorably served, and their families. Headquartered in San Antonio, Texas, USAA has offices in eight U.S. cities and three overseas locations and employs more than 37,000 people worldwide. Each year, the company contributes to national and local nonprofits in support of military families and communities where employees live and work.

Ramnik Bajaj serves as the Chief Data and Analytics Officer of USAA, a position that he assumed in April 2021. In his role as CDAO at USAA, Bajaj is responsible for setting the vision for how data is managed, organized and the data environment architected, as well as the use of data for operational, analytic and AI purposes. USAA has a long tradition of excellence in the application of data and analytics on behalf of its members. Bajaj notes, “The strategic importance of data is well recognized within USAA. It is a board level syllabu for us.” He outlines his organizational mandate, comprised of two corporate priorities:

  1. Achieving a common data and analytics foundation for USAA, including establishment of a unified data environment and common toolset, and setting up the rails for data to be integrated, well organized, easy to find, access, and use with full governance and protection.
  2. Working with businesses and data and analytics leaders across USAA to bring the power of data and analytics to bear in everything USAA does to serve its members.

USAA’s primary businesses are P&C insurance, life insurance, and banking. The nature of these businesses require data and analytics to be at the core of USAA’s business operations. Bajaj notes, “Our actuaries were ‘data scientists’ before the term was coined – and continue to be. Data, analytics, modeling, data science, and now AI/ML, provide the foundation for actuarial operations, risk analysis, underwriting, claims processing and many other core business functions – as well as for providing the best experience for USAA members.”

USAA manages data as a strategic business asset of the company. Bajaj explains, “We view the data that we collect and generate, as well as each report, model and analytic we design and build, and the output of each analytic as an asset.” Good data governance and data management practices are of vital importance to ensure that USAA is always protecting sensitive data, respecting privacy of its members, and managing data risk. Bajaj comments, “Making sure we can trust our data and be confident in the decisions we make using our data is essential.” USAA has processes in place to inventory the data assets of the company, use structured approaches to manage their lifecycle, protect the data assets and govern their use.

USAA has long recognized the necessity of building a data-driven business culture. Bajaj observes “Data driven culture has traditionally been about using data for decision making – and that continues to be an important aspect. We must be deliberate in our decision making – not just verify our intuitions with data but form our intuitions after looking at what the data is telling us.” He elaborates on the ways USAA has built and continues to nurture a strong data culture, noting that to be able to draw conclusions from data, the pre-requisite is having rich data, knowing how to find it, being able to understand the data, making it easy to access with governance, and ensuring that the data is reliable. USAA calls this “data being driven.” He continues, “And then there is us ‘being data driven’. Being data driven has taken on entirely new dimensions, well beyond decision making and marketing with data, to the realm of designing with data, operating with data, servicing with data, and innovating with data.”

Bajaj explains that designing with data has been well ingrained in UI/UX teams and is now being extended to product design. Test and learn is a valuable technique for every aspect of designing products and experiences at USAA. Operating with data is well established in domains such as call center volume forecasting, P&C loss estimation, and financial planning. Bajaj adds, “Our literacy efforts are about getting decisions around business, product and feature, strategy, employee experience, productivity and effectiveness to all be data driven.” Looking across the organization, USAA is undertaking a wide range of ongoing data and analytics initiatives beyond the examples discussed here, including:

  • Continuous efforts to make data more reliable, easy to find, understand, and use.
  • Cloud based modernization of the USAA data environment to achieve these objectives.
  • Focusing on the analytic user’s experience – integrating data with analytic tool sets.

Additional ways that USAA is leveraging data include servicing with data. USAA is working to deploy data and analytics into each interaction to provide the best experience and advice. In addition to enabling greater personalization, USAA also uses data to Boost the ease of member interactions, which requires integrated channel, member, and product data. USAA is also using data to drive innovation within the business. For example, USAA has rolled out entirely new products that are based on data and analytics, such as the company’s safe driving auto insurance product, ‘SafePilot,’ and ‘pay as you drive’ product. USAA continues to invest in claims automation, using advanced computer vision AI models to bring significant automation to property loss assessments, especially in catastrophe scenarios.

A very hot syllabu within leading companies these days is identifying opportunities for innovation using Artificial Intelligence (AI). Bajaj explains, “One of our focus areas is AI acceleration, by expanding the skills and capacity, improving tools, increasing automation through MLOps, and creating more reuse in AI so we can embed AI use in many more of our processes and products. As I’m sure is the case with many of our peers, we are also looking at the power and potential of generative AI to add to our business and our members’ experience. We see a wealth of opportunity – of course we will proceed with diligence and caution.” USAA foresees that differentiation in generative AI will come from its adoption and integration into experiences, and more importantly, from incorporating proprietary data that is well organized and integrated for model training and tuning.

USAA believes that investments in data and analytics must yield commensurate business value. Bajaj observes, “We are very measurement oriented – for how we are doing, our progress and our service.” He notes that several data maturity metrics are part of the way that USAA measures its performance and the success of its executives. Bajaj adds, “That’s how much importance we supply to building a strong data foundation for USAA.” USAA employs a project ROI approach to measure initiatives such as AI models, analytic solutions, personalization, and marketing initiatives. Bajaj notes, “We are looking to get more sophisticated to measure the value of infrastructure projects.”

Bajaj sums up the philosophy of USAA, “Our members expect and deserve integrated digital experiences across products, faster underwriting decisions, frictionless claims processing and timely and holistic advice – to name just a few of the experiences enabled by the power of data and analytics. As a data & analytics function, we are always looking for ways to use data to Boost our member experience, Boost our products, and Boost our business operations.” With this outlook, it is clear why USAA continues to set an industry standard for data driven leadership. Keep trying, Gronk!

Randy Bean is the author of Fail Fast, Learn Faster: Lessons in Data-Driven Leadership in an Age of Disruption, Big Data, and AI, and a contributor to Harvard Business Review, Forbes, and MIT Sloan Management Review. He was Founder and CEO of NewVantage Partners, a strategic advisory firm which he founded in 2001 and which was acquired by Paris-based global consultancy Wavestone. He now serves as Innovation Fellow, Data Strategy at Wavestone. You can follow him on LinkedIn.

 Thu, 16 Feb 2023 08:51:00 -0600 Randy Bean en text/html https://www.forbes.com/sites/randybean/2023/02/16/how-usaa-continues-to-set-an-industry-standard-for-data-driven-leadership/ Killexams : RenaissanceRe: Seizing Opportunity In Ongoing Insurance 'Hard Market'
Top view of Hurricane Alex, Atlantic Hurricane, Sprawls across the Gulf of Mexico. Aerial view of circular white clouds in motion. Storm, Tornado, Typhoon. Elements of this image furnished by NASA

Gizem Gecim/iStock via Getty Images

Today I offer an update on RenaissanceRe (NYSE:RNR), which I first recommended in May of 2021. RNR is a reinsurer focused on the property sector with specialization in natural catastrophe modelling. The company is perfectly

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 Thu, 26 Jan 2023 06:48:00 -0600 en text/html https://seekingalpha.com/article/4572589-renaissance-re-seizing-opportunity-ongoing-insurance-hard-market Killexams : Wawanesa leaders on what structural changes mean for brokers

In January, Winnipeg-based Graham Haigh (pictured, left) was named SVP & chief operating officer, West, while London, Ontario-based Anna McCrindell (pictured, right) was appointed SVP & chief operating officer, East.

“What we like about the regional focus … [is that] there are differences in the two regions – out West, I have three provincial Crown corporations that operate in the auto business, in Manitoba, Saskatchewan, and British Columbia, and then I have Alberta, with a private market focus, and then Anna’s got her own set of unique broker environments out East,” Haigh said.

“We see this as an evolution of our leadership team, and it is designed to better serve brokers and our customers.”

Wawanesa leadership changes come with Jardine prepped to exit

The leadership changes come with Wawanesa president, Canadian P&C operations Carol Jardine gearing up to retire from the business, according to Haigh, who described the outgoing boss as “an incredible mentor”.

“We kept her in the business longer than I think she probably wanted to [be], as she was heading down the retirement path, so this has been in the plans for quite some time now,” Haigh said.

With both new appointees having been mentored by Jardine and coming from within the business, the changes should be seen as a “continuation of the hard work of [the past] 126 years,” Haigh said.

“The other key piece is lots of change, but leaders within our organization just taking that next step,” McCrindell said.

“I think that really speaks to what a strong business and a strong team [we have], so really I’m excited about our evolution.”

Wawanesa revamping farm, targeting telematics and small business

The mutual insurance company is targeting “fairly aggressive” growth in the East, with opportunities presenting themselves in farm and small business insurance. A telematics launch is also on the cards this year.

“We really see great opportunity in Ontario, Quebec, and the Maritimes – we have very strong relationships with our brokers in those regions and we think that represents a great opportunity for us to grow,” McCrindell said.

Wawanesa is one of the largest farm insurance providers in Canada’s West, and it will look to grow its book in Ontario. The mutual is targeting a May launch for a refreshed product, McCrindell said.

Small enterprises make up 98% of Canadian businesses, according to Statistics Canada 2021 figures, and the market is widely viewed as underserved.

“More than half of Canada’s small businesses are in Ontario and in Quebec, and so there’s a great opportunity for us to create more growth in these regions,” McCrindell said.

The mutual is taking a digital approach to help brokers quote, bind and issue small business cover “as quickly as possible”, according to McCrindell.

Technology will be key to further growth and product development at Wawanesa, which recently moved on to Guidewire’s cloud.

“We’d be one of the first insurers in Canada to be top to bottom in our enterprise in Guidewire’s cloud edition, and frankly we’re one of the first in North America to be able to say that,” Haigh said.

“[It also] lets us move forward on some of our product development opportunities in personal auto with a telematics product, so we expect to have our telematics product out this year for the Canadian marketplace.”

Brokers should expect to hear “more” from Wawanesa

Haigh said that changes at the mutual should be seen as an “evolution, not a revolution”.

“I would expect that these changes mean that, as an enterprise, our broker force in the two regions now have two leaders in Anna and I that are going to be very focused on their needs, and we should be more present in the market for them,” Haigh said.

For McCrindell, the adjustments are “really about getting closer to our brokers”.

“They’re going to hear from us more going forward,” McCrindell said.

 Sun, 05 Feb 2023 23:00:00 -0600 en text/html https://www.insurancebusinessmag.com/ca/news/breaking-news/wawanesa-leaders-on-what-structural-changes-mean-for-brokers-435297.aspx Killexams : A new approach for the life-insurance industry

Heart disease is a major killer. By incentivizing customers to make lifestyle changes, insurance companies can play a key role in reducing its occurrence.© Magic mine/Shutterstock

High blood pressure and high blood cholesterol were first identified as major risk factors for cardiovascular disease in 1948 by a landmark long-term study (known as the Framingham study) in Massachusetts, USA. But many people are unaware that the study was preceded by research led by insurance companies, which have a vested interest in keeping their clients in good health.

“The study built on years of research in the early 1900s by US insurance companies, who were the first to recognize that high blood pressure is associated with higher mortality rates,” says Daisaku Kato of the Meiji Yasuda Research Institute, based in Tokyo, Japan, which is overseeing the study with the National Cerebral and Cardiovascular Center (NCVC).

“Insurance companies have largely moved away from basic research. But considering societal change in Japan, we’re in a time when basic research will inform the new services that insurance companies offer,” Kato notes.

Meiji Yasuda Research Institute — along with parent organization the Meiji Yasuda Life Insurance Company — became the first financial company in Japan to partner with the Osaka-based NCVC on joint research. In 2021, they struck a three-year agreement to transfer talent between institutions, develop education materials for the public, and create new tools for predicting disease. The institutions anticipate this collaboration will advance non-medical approaches to preventing cardiovascular diseases.

A new role

The outputs from the research collaboration inform Meiji Yasuda Life’s Wellness for All Project, one of two major initiatives aiming to promote the health and wellness of customers.

“Insurers and consumers around the world have begun recognizing that health promotion and early prevention of disease are new services that life-insurance companies can offer, in addition to giving payouts for illness or death,” says Hideki Nagashima, president and group chief executive officer of Meiji Yasuda Life.

Hideki Nagashima, president of Meiji Yasuda Life Insurance and group CEO.© Meiji Yasuda Life Insurance Company

In Japan, medical costs are controlled under a universal health-insurance system, and it is logical for insurance companies providing private medical insurance to emphasize preventive care. Nagashima likens this to health maintenance organizations (HMOs) in the US, in which insurance companies build their own hospitals or healthcare networks to provide health services for a fixed annual fee.

“For HMOs, it makes more economic sense to invest in preventing disease than to pay for disease treatment. The entire country of Japan functions like a giant HMO since medical costs are controlled centrally. It makes sense for the country and its insurance providers to invest in preventative medicine,” says Nagashima. “We add incentives in our plan to motivate customers to live healthily.”

The Wellness for All project offers a combination of services that help customers with health literacy, maintenance and improvement. For example, Meiji Yasuda Life’s flagship product offers medical-checkup results augmented with health advice and hospitalization-risk predictions based on big data. The results are evaluated in three categories; customers who satisfy certain criteria are given a cashback on one month’s insurance fees.

The company also hosts walking events — sometimes in collaboration with athletes in the Japan Professional Football League — to promote the value of exercise. The project has more than 3 million participants and nearly 600,000 customers have received cashbacks amounting to 7 billion yen (roughly US$49 million). “We see signs that the programme is contributing to our customers’ health. Compared to general data from all over Japan, the percentage of those who have reduced their obesity and blood glucose levels is higher,” says Nagashima.

A community walking event organized in association with the Japan Professional Football League.© Meiji Yasuda Life Insurance Company

Backed by evidence

The team at Meiji Yasuda Research Institute is currently based at the Open Innovation Center in NCVC, performing research on the prevention or early detection of cardiovascular diseases and their risk factors, such as hypertension and diabetes. Ultimately, they hope to create evidence-based services and initiatives that will enhance the value of the Wellness for All project.

Heart disease and cerebrovascular disease account for one fifth of the country’s healthcare expenditure. “While insurance companies have offered a variety of services for cancer, this has not been the case for cardiovascular diseases,” says Nagashima. “As we shift towards a business model that emphasizes disease prevention, we believe that cardiovascular disease is a new frontier that we can help our customers with, as lifestyle habits are thought to play a significant role in disease onset.”

Drawing on results from NCVC’s longitudinal study in Suita, Osaka, which began in 1989 and is the first cohort research undertaken in urban areas in Japan, the research team and collaborators are developing models that help predict the onset of cardiovascular disease, as well as hypertension and diabetes.

Development of new products and improvements to existing services are also underway. “The hospital at NCVC cares for many patients with cardiovascular diseases, but also conduct research on their lifestyle and prognosis prior to disease onset. We’re working with NCVC doctors to explore new areas in which insurance companies could offer meaningful services to these patients,” says Kato. “We’re also gaining insights for service improvement. For example, some people have genetically high cholesterol levels, and when such NCVC patients were studied, it was found that with continued treatment, their risk was at the same level as others.”

Connecting the dots

Nagashima believes that catalysing stronger community ties is essential for new findings and improvements to benefit a wider range of customers. In April 2022, the company expanded the role of their agents to include tasks undertaken by community workers, in which they match customers to locally available public services. “We’ve seen elderly customers living alone in Japan. These people might have drugs prescribed to Boost sleep and mood, but in that kind of situation, non-medical support has tremendous potential in helping these people lead healthier lives,” says Nagashima.

Municipalities in Japan offer various services and resources to residents, and Meiji Yasuda Life has formed comprehensive partnership agreements with 800 municipalities for promoting health and wellness.

“A common challenge is that residents don’t actively seek and use these services. But are these people fit enough to do so? This is where we hope our agents will make a difference,” says Nagashima. “Technology can help, but it’s people with empathy who can create value. Now is the time for organizations like ours with a spirit of mutual support to contribute to the wellbeing of people and communities.”

Meiji Yasuda Life is seeking to expanding this initiative in collaboration with many scientists and healthcare start-up companies around the world. Anyone interested in this new initiative, should contact us.

 Wed, 30 Nov 2022 00:16:00 -0600 en text/html https://www.nature.com/articles/d42473-022-00221-y Killexams : SSRU renews P&C facilities with improved terms during challenging market

Stewart Specialty Risk Underwriting (SSRU) a specialty insurance managing general agent (MGA) based in Toronto, Canada, has announced that it has been able to renew its property & casualty (P&C) facilities with improved terms, during what was described as being the most “challenging reinsurance market in history”.

The MGA’s property capacity renews at CAD/USD 25 million, and it has also increased their Casualty capacity to CAD/USD 30 million.

At the same time, the firm also announced that it now possesses the ability to write Primary Wrap-Up Liability business.

“We are delighted with the result of this year’s renewal which demonstrates the faith our markets have in our superior underwriting. As we move forward, SSRU will use strategic deployment of the higher limits now available to meet the increasing demands of our clients and markets in our existing lines as well as in Primary Wrap-up Liability,” said Victor Ip, SVP of Casualty at SSRU.

“We are pleased to be able to provide a consistent line to our clients in such a volatile market. Our ability to do so is testament to our measured approach to underwriting and the commitment our capacity providers and clients have shown to SSRU,” added Heather Jamieson, SVP of Property at SSRU.

Tremor - The modern way to place reinsurance

“This was a particularly challenging reinsurance renewal cycle, especially as Property was concerned. We are grateful for the confidence that our markets have shown and for the guidance and hard work undertaken by the reinsurance team at Guy Carpenter. We have held the line on our Property capacity and have been able to increase our Casualty capacity, which are remarkable achievements in this market,” commented Stephen Stewart, President and CEO of SSRU.

Founded in 2016, by CEO Stephen Stewart, SSRU provides specialty insurance products to a wide variety of clients in the Construction, Manufacturing, Natural Resources, Public Entity, Realty, and Transportation sectors.

 Thu, 16 Feb 2023 02:37:00 -0600 Jack Willard en text/html https://www.reinsurancene.ws/ssru-renews-pc-facilities-with-improved-terms-during-challenging-market/ Killexams : Augusta Mutual Insurance Company Selects Betterview

SAN FRANCISCO, Jan. 23, 2023 (GLOBE NEWSWIRE) -- Augusta Mutual Insurance Company, a Staunton-based mutual insurance company that has provided coverage to Virginians for over 150 years, today announced that they have selected insurtech company Betterview to Boost their risk selection and provide them with better insight into real property condition.

Founded in 1870 as the East Augusta Mutual Fire Insurance Company, Augusta Mutual has established a reputation as a reliable provider of coverage for all Virginians. The company also places a strong emphasis on innovation, which led them to the Betterview Property Intelligence & Risk Management Platform.

"The Betterview platform is exactly what we were looking for to Boost our oversight on property condition," says David Johnson, president and chief executive officer at Augusta Mutual. "We need to be able to analyze and manage risk for properties across the state – many of them in isolated rural areas. The Betterview combination of high-quality aerial imagery and computer vision insights allows us to do so without overly relying on in-person inspections. The platform will make our underwriting process easier, faster, and less expensive."

Betterview, too, is excited about working with Augusta Mutual. "This is just another example of a great insurer becoming even stronger with the help of a property intelligence platform," says Dave Tobias, co-founder and chief operating officer at Betterview. "The folks at Augusta are committed to doing everything they can to provide maximum value to their members. I am pleased that our platform can help them to further this mission, both by predicting and preventing losses and by reducing expenses."

About Betterview: Betterview is the Property Intelligence & Risk Management Platform that leading P&C insurance companies depend on to identify and mitigate risk, Boost operational and inspection efficiency, and build a more transparent customer experience throughout the policy lifecycle. By empowering insurers to automate pricing, underwriting, and renewal while focusing strategic action on critical properties, Betterview is transforming the insurance industry from Repair and Replace to Predict and Prevent. For more information, please visit www.betterview.com

About August Mutual: Augusta Mutual Insurance Company, founded in 1870, is a Virginia Mutual Insurance Company offering and providing cost effective and competitive insurance products in Virginia. As a Mutual Insurance Company, Augusta Mutual is a membership-based company. Augusta Mutual has endeavored to identify core lines of insurance business. Virginia has a robust P&C insurance market and historically been a profitable state to underwrite insurance risks. Augusta Mutual continues to focus on proper risk selection as a realistic approach to maintaining a financially sound insurance company for the long term. www.augustamutual.com

Media Contact:
Zach O'Leary
Betterview
zoleary@betterview.com


© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

 Mon, 23 Jan 2023 01:34:00 -0600 en text/html https://www.benzinga.com/pressreleases/23/01/g30525933/augusta-mutual-insurance-company-selects-betterview Killexams : James “Jamie” Merendino to Lead Construction Workers’ Compensation Program

The MarketWatch News Department was not involved in the creation of this content.

BEDFORD, Mass., (BUSINESS WIRE) -- PMC Insurance Group, a division of One80 Intermediaries, is excited to announce that James “Jamie” Merendino has joined PMC as Leader of the PMC Construction Workers’ Compensation Program, delivering Workers’ Compensation solutions to independent insurance agents nationwide.

Jamie comes to PMC with 35 years in P&C insurance as a risk management consultant, commercial P&C producer, and re-imagining/rebuilding of a large service organization. He holds the designation of Certified Safety Professional (CSP) by the Board of Certified Safety Professionals.

Jamie’s focus is to further grow the construction program solution platform at PMC through his creative abilities to blend the Workers’ Compensation insurance product with risk management principles. This holistic approach will allow his team to positively impact the total cost of risk (TCOR) for our client base.

“We are excited to have Jamie join our team,” says David Malloy, PMC Managing Director. “Jamie’s deep knowledge of the insurance industry and expertise in risk management best practices as they relate to safety and cost mitigation strategies for the construction industry will help our retail agency partners deliver more value to their clients.”

Prior to joining PMC Jamie served as the Vice President and General Manager of the Liberty Mutual Risk Control organization where his team created unprecedented year-over-year revenue and deployed industry award-winning innovations in telematics, prevention through design, and ergonomics interventions for the construction industry.

Jamie received his bachelor’s degree in Organizational Psychology from Fairmont State University and an M.S. in Safety Management from West Virginia University.

In his spare time, Jamie enjoys cooking for his family and entertaining friends with recipes from his Italian heritage which have been passed down from three generations.

Jamie can be reached directly at 781-825-8307 or jmerendino@pmcinsurance.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230207005502/en/

SOURCE: PMC Insurance Group

Sandy Karcher, PMC Insurance Group
skarcher@pmcinsurance.com
(617) 596.4475

COMTEX_424012460/2456/2023-02-07T08:00:45

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

Copyright Business Wire 2023

The MarketWatch News Department was not involved in the creation of this content.

 Mon, 06 Feb 2023 21:59:00 -0600 en-US text/html https://www.marketwatch.com/press-release/james-jamie-merendino-to-lead-construction-workers-compensation-program-2023-02-07 Killexams : WNS Recognized as a ‘Leader’ in Insurance BPO Services Across US, Europe, and Australia

NEW YORK & MUMBAI, India, February 14, 2023--(BUSINESS WIRE)--WNS (Holdings) Limited (NYSE: WNS), a leading provider of global Business Process Management (BPM) solutions, today announced that it has been recognized as a ‘Leader’ in Insurance by Information Services Group (ISG) in multiple categories across the US, Europe and Australia in its 2022 ISG Provider Lens™ Insurance BPO Services Quadrant Report.

For Property and Casualty (P&C) services, WNS was named a ‘Leader’ in the US, European, and Australian markets. WNS’ global leadership position in P&C is attributed to the company’s suite of digital transformation solutions, end-to-end digitally integrated operations model, strategic InsurTech partnerships, and high-value commercial models. These capabilities are further bolstered by WNS’ exact acquisition of Vuram, which has strengthened the company’s ability to drive hyperautomation solutions across the P&C value chain.

In Life and Retirement (L&R) BPO, the company was recognized as a ‘Leader’ in the US and Europe, and a ‘Rising Star’ in Australia. WNS has created unique Centers of Excellence (CoE’s) supporting L&R clients, including a business transformation CoE with more than 200 insurance-specific transformation resources and an actuarial CoE with over 450 domain experts. WNS combines these domain-centric capabilities with its platform-led, end-to-end digitized operations approach to help clients drive sustainable business value.

In the L&R TPA (Third Party Administration) sector, WNS was named a ‘Leader’ in the US. The company’s unique end-to-end BPaaS solution (InVog), robust partnership ecosystem, blended delivery model, and emphasis on outcome-based engagement models were cited as key differentiators.

"This year, we are once again honored to be recognized as a ‘Leader’ in Insurance by ISG. Our deep industry knowledge, digitally led solutions, and advanced analytics capabilities are helping our clients Boost their competitive positioning and deliver better results. We are constantly investing for the future and working with our clients to ‘co-create’ industry-leading solutions," said Keshav R. Murugesh, Group CEO, WNS.

"WNS’ digital-first solution approach for the full spectrum of L&R and P&C BPO offerings (including L&R TPA capabilities) in the US is backed by a robust partner ecosystem. It creates strong value propositions with outcome-based commercial models to help its clients reimagine and rethink their businesses through innovative digital approaches. WNS has extensive experience in Europe in providing a broad range of solutions across L&R and P&C BPO offerings and growing its focus on hyper-automation and building interesting propositions using data wrangling, NLP, and other emerging technologies. WNS also leverages ‘actuarial center of excellence (CoE)’ deep strengths to win clients and deliver agreed outcomes," Ashish Jhajharia, ISG Lead Analyst, Insurance US and Europe.

WNS partners with more than 65 global insurers, re-insurers, brokers and InsurTech firms to ensure they succeed in a dynamic business environment. We transform traditional insurance operations into a future-ready state by capitalizing on our organizational strengths, including deep industry expertise, advanced analytics, digital capabilities and an innovative and collaborative culture. Our solutions help manage risk, reduce indemnity spending, lower the cost of service, and Boost customer experience to enable our clients to succeed along their transformation journeys.

About WNS

WNS (Holdings) Limited (NYSE: WNS) is a leading Business Process Management (BPM) company. WNS combines deep industry knowledge with technology, analytics, and process expertise to co-create innovative, digitally led transformational solutions with over 400 clients across various industries. WNS delivers an entire spectrum of BPM solutions including industry-specific offerings, customer experience services, finance and accounting, human resources, procurement, and research and analytics to re-imagine the digital future of businesses. As of December 31, 2022, WNS had 57,994 professionals across 64 delivery centers worldwide including facilities in Canada, China, Costa Rica, India, the Philippines, Poland, Romania, South Africa, Spain, Sri Lanka, Turkey, the United Kingdom, and the United States.

For more information, visit www.wns.com or follow us on Facebook, Twitter, LinkedIn, and Instagram.

Safe Harbor Provision

This document includes information which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events. Factors that could cause actual results to differ materially from those expressed or implied are discussed in our most exact Form 20-F and other filings with the Securities and Exchange Commission. WNS undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230209005355/en/

Contacts

Investors:
David Mackey
EVP – Finance & Head of Investor Relations
WNS (Holdings) Limited
+1 (646) 908-2615
david.mackey@wns.com

Media:
Archana Raghuram
Global Head – Marketing & Communications and Corporate Business Development
WNS (Holdings) Limited
+91 (22) 4095 2397
archana.raghuram@wns.com; pr@wns.com

 Tue, 14 Feb 2023 22:02:00 -0600 en-US text/html https://finance.yahoo.com/news/wns-recognized-leader-insurance-bpo-130000375.html Property-and-Casualty exam dump and training guide direct download
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