Insights
Average Length of Rental for Repairable Vehicles: Q3 2016
Continuing a recent trend, U.S. Length of Rental (LOR) increased by .5 days in the third quarter versus the same period the previous year (11.4 to 11.9) powered by a surge in claims frequency and an escalation of complex repairs. The regional results are very similar to those from the second quarter with the Southwest nearly two days longer than the U.S. average at 13.8 days, an increase of 1.3.
Corporate Responsibility: How Employee Engagement and Community Engagement Go Hand-in-Hand
Employee engagement is a top priority for every human resources executive, and for good reason. According to a PWC study, employees who are committed to the companies they work for put in 57 percent more effort and are 87 percent less likely to resign. Despite these powerful statistics, Gallup reports that only about one third of U.S. workers are engaged at work.
From Airbnb to Uber: How Peer to Peer Insurance is Transforming the Insurance Industry
3 MIN READ
If you’ve ever taken Uber or stayed in an Airbnb, then you’ve participated in the peer-to-peer economy. Interestingly, Uber, which was founded in 2009, currently has a valuation of $62 billion. The company is on track to deliver 3 billion rides by the end of 2016—and the word “Uber”—as in “No need to pick me up. I’ll Uber,”—has gone from company name to generic verb for using any ridesharing service.
Five Qualities of an Effective Business Workflow Solution
12 MIN READ
No two payors are the same, so their business workflow solutions shouldn’t be identical either. Every insurer or third party administrator knows their business best and needs a workflow solution which adapts itself to their unique business priorities and rules. Now learn the five qualities that make a business workflow work for your business.
Five P&C Hot Topics and the Trends Fueling Them
Does virtual reality have practical applications for the P&C and collision repair industries? While it may be too soon to say what the overall impact will be, we are seeing interesting applications that go beyond entertainment. Virtual reality is being used to train doctors, create architectural models, and test the safety of new car models in a virtual setting before manufacturing them. It’s easier to see the potential benefits of augmented reality.
Is Digital Connectivity Changing The Way We Interact In The Insurance Industry?
Today, the average consumer owns 3.64 connected devices, and this hyper connectivity has changed the way people interact and communicate with each other. Importantly, it has also transformed the way they want to engage with the brands they buy. Today’s consumers demand deeply personalized, on-demand, omni-channel experiences, and that, in turn, is transforming entire industries.
Insurance Chatbots Are Transforming The Industry With Automation
3 MIN READ
Bots are cropping up everywhere. Just six months after their launch on Facebook Messenger, there were 34,000 of them on the platform. But just what are they and why do they matter? First, it’s important to understand that the term ‘bot’ encompasses many different types of technology, and the technologies themselves serve a huge range of purposes—from rules-based robotic processing automation (RPA) for automating back-office processes that would ordinarily have to be done by a person, to complex, AI-powered, human personas serving as customer service agents.
Stay Ahead in P&C
Get monthly insights from Enlyte experts to tackle your toughest claims challenges.