Alex Bond

The insurance industry needs to get serious about investing in their workforce, and 🍕 Fridays aren't going to cut it. Start with messaging on two fronts: Recruitment - Our industry offers a lot of different career paths under our broad "insurance" umbrella. How well are you telling your story about what a career at your organization can look like? Retention - Again, it's messaging. You probably have a vision, mission, and values statement rattling around on your website, or parked in a PDF printout somewhere. Gather your team. Review your organizational 'who' 'why' and 'how', and make sure you actually live it. This is not the time for faking it. We've got a long way to go to attract and retain the brightest talent, and it's up to each organization in this industry to make it so. Let's get to it.

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Having the right policy details available at the time of a claimant need is “where the promise is fulfilled,” says Dan Watt, FINEOS SVP Product Management. By simplifying client issues and claims, FINEOS AdminSuite allows insurers to make good decisions and support the claimant. Read Dan’s article on this subject, where he points out that modern technology can save insurers $5 million - $10 million annually. https://okt.to/9frNGX #claimsmanagement #groupbenefits #employeebenefits #claims

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Webinar alert! Insurance + Carbon Standards --> Oli Torfason and I will be covering all you need to know. Sign up here https://lnkd.in/ecaP2Myn to hear us discuss: 1️⃣ the vital synergy between insurance mechanisms and registry standards; 2️⃣ how insurance safeguards investments and enhances market efficiency; 3️⃣ the specific risks that insurance companies assess and protect against, and how insurance offers greater security to market stakeholders; and 4️⃣ how the collaboration between Kita and International Carbon Registry brings benefit to #voluntarycarbonmarket stakeholders. Gudmundur Sigbergsson Alondra Silva Muñoz Jana Phillips #carboninsurance #vcm

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Christopher Hamilton discusses whether or not it's an appropriate strategy to ask insurers to assess Whole Person Impairment (WPI) earlier for more complex claims. To request a replay link to our recent webinar, please email [email protected] with ‘WPR April Market Update’ in the subject line. #WTWAustralia #WTWNewZealand #webinar #claims #WPI #injury #worksafety

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*** Texas Sues GM for Allegedly Collecting Drivers’ Data, Then Selling it to Insurers *** Excerpts from the Insurance Journal article: @general motors ⭐️has been sued by the state of Texas, ⭐️which accused the automaker of installing technology ⭐️on more than 14 million vehicles ⭐️to collect data about drivers, ⭐️which it then sold to insurers and other companies ⭐️without drivers’ consent. Paxton said GM’s data were used to compile “Driving Scores” assessing whether more than 1.8 million Texas drivers had “bad” habits such as ❌speeding, ❌braking too fast, ❌steering too sharply into turns, ❌not using seatbelts and ❌driving late at night. Insurers could then use the data when deciding whether ⭐️to raise premiums, ⭐️cancel policies or ⭐️deny coverage, Paxton said. Paxton said GM’s practice was for dealers to ⭐️subject unwitting consumers ⭐️who had just completed the stressful buying and leasing process ⭐️into believing that enrolling in its OnStar diagnostic products, which collected the data, was mandatory. Paxton said in a statement. “Our investigation revealed that General Motors has engaged in egregious business practices that violated Texans’ privacy and broke the law. We will hold them accountable.” “ #motor #insurance #insurancenews #data #privacy https://lnkd.in/g4SXiqcT

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One of the first things I do when reviewing a private company D&O policy form, is to review the fraud exclusion. Why? If the policy form allows the insurer to cease defense costs (in claims involving fraud) upon a finding of fact or judgement outside of a final, non-appealable adjudication in the underlying action, it immediately puts me on guard for the rest of the policy review. When comparing different policy forms, it’s sort of an immediate “cheat” to know which policy is likely the stronger form. With the importance of “final adjudication” language, and it being extremely readily available in the marketplace, if a carrier is that behind on their language, I can just about guarantee the policy will contain other deficiencies. In almost every review I have performed, policies absent “final adjudication” language have been weaker policies than their more appropriately worded counterparts. In terms of private company D&O forms, the allocation clause can often be another indicator. 100% defense allocation is equally important and readily available, so when I see a policy applying more aggressive allocation efforts, it equally puts me on guard. #directorsandofficers #insurance

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