New Nationwide Agency Forward Survey Shows Dangerous Driving Behavior Drastically Higher than Last Year  March 28th 2023

New Nationwide Agency Forward Survey Shows Dangerous Driving Behavior Drastically Higher than Last Year

Drivers say it’s getting scarier on America’s roadways.

Consumers fear drivers are faster, more aggressive, and more reckless compared to 2022. They are right. New research from Nationwide shows dangerous driving behavior has not improved since last year. In fact, it has reached alarming highs,

The younger the driver, the scarier the driving behaviors

Nationwide’s Agency Forward research found that Gen Z has especially developed unsafe driving habits. 59% of Gen Z drivers admit being more impatient on the road than they were a year ago, and 47% report driving faster and taking phone calls on a handheld device. During the past year:

• 38% of Gen Z consumers admitted to looking at their phone more frequently while behind the wheel.
• 34% of Gen Z drivers video chatted while driving.
• 24% of Gen Z and 23% of Millennials used/checked social media while driving.

CCC Intelligent Solutions Named Winner in 2023 Artificial Intelligence Excellence Awards

Auto claims and repair tech leader recognized by Business Intelligence for its industry-first AI-powered estimating solution CCC® Estimate – STP and its NXT Lab innovation hub

CCC Intelligent Solutions Inc. (CCC), a leading cloud platform for the P&C insurance economy, announces today it has been recognized by Business Intelligence with two Artificial Intelligence (AI) Excellence Awards. The 2023 AI Excellence Awards recognize organizations, products, and people applying AI to solve real business challenges.

CCC's industry-first AI-powered estimating solution CCC® Estimate - STP was recognized as a top innovation in the product category for 2023. CCC Estimate - STP uses advanced AI and insurer-driven rules to automatically initiate and populate detailed and actionable estimates for qualified repairable estimates in seconds without the need for human intervention.

In the organization category, CCC's NXT Lab innovation hub was recognized as a center of excellence for its work across internal teams, including data science, R&D, engineering, support, and design to develop and test next-generation AI solutions for the industry.

“CCC is excited to be recognized for our work applying advanced AI to elevate, personalize, and simplify customer and consumer experiences across the P&C insurance economy,” said John Goodson, chief technology officer for CCC. “More than a billion days elapse in the U.S. every year between when auto claims are opened and when they are resolved. This is stressful to vehicle owners and costly to auto insurers. Our work with AI and other advanced technologies through our NXT Lab accelerates our ability to bring new innovations to market and helps our customers bring better experiences and faster claims resolution to millions of drivers.”

P&C Agency Distribution: Digital Strategies and Plans for Small Commercial Lines in 2023 - Strategy Meets Action

In recent years, we have seen small commercial lines evolve thanks to technology advancements, changing customer/distributor expectations, external influences, and new distribution channels driving changes across the segment. Insurers continue to invest in capabilities to support their various channel partners, but how do their priorities align with the needs of agents and brokers?

This new SMA research report offers actionable insights to carriers on distributor plans and expectations in small commercial lines based on a survey of agency executives. The report reveals the current state of automation between agencies and carriers, agency satisfaction with insurers’ digital offerings, and how insurers’ tech investment plans align with agency needs across sixteen digital sales capabilities and seventeen digital servicing capabilities. Lastly, the report ends with the proactive steps insurers can take to support agency partners and succeed in the small commercial segment.

Mark. A. Breading, Partner, Strategy Meets Action

Insurers partner with colleges to promote insurance talent development

VIU from HUB and Arizona State University

VIU by HUB recently announced that it is providing a personal line digital brokerage solution for Arizona State University alumni and plans to introduce mentoring and talent development opportunities for current ASU students. VIU experts can hold various events and presentations, such as speaking in front of a class or at a conference.

Mike Keegan, VIU’s managing director of strategic partnerships, says: “They have some incredible programs at ASU… [VIU by HUB is] provide such opportunities to work with ASU, and not only with the Alumni Association, but also with various schools within the service area of ​​ASU, and help them in this regard.

VIU by HUB also looks forward to participating in internship or mentoring programs for students in the future.

We see this as a way for us to become a true partner in the insurance aspect, providing both choice and a first-class insurance experience, in this case for the Alumni Association, but [also] then how do we work and really partner with the university to help them with any of their needs or give them access to some of our knowledge and resources,” says Keegan.

Exploring the changing risk factors in the technology industry

Technology has become a vital force engrained in our society. While it has enriched our lives for the better, a whole new wave of risks come with the rise of AI and new advancements.

Technology has become a vital force engrained in our society. While it has enriched our lives for the better, a whole new wave of risks come with the rise of AI and new advancements.

The idea that technology can now cause bodily injury or property damage is very real, and also very different to how things were ten, even five years ago.

Whether you’re a broker or insurer, don’t miss the latest episode of IB Talk for a comprehensive guide to the new wave of technological advancements and what potential risks are on the horizon.

Understand how these risks affect arising technology, like AI and the metaverse, and gain critical insights on how insurers can prepare themselves. Learn how emerging technologies will develop over the next decade, and what precautions insurers can take to combat these risks as well as how they can use new technologies to their advantage.

Don’t miss this exclusive look into the future of technology, and how brokers and insurers can best position themselves in an ever-changing landscape.

NICB's 'The Informer' Shines Light On Insidious And Far Reaching Medical Fraud

The National Insurance Crime Bureau (NICB), the insurance industry’s association dedicated to predicting, preventing, and prosecuting insurance crime, is pleased to release its latest issue of The NICB Informer. The edition focuses on medical fraud and the impact it has on insurers, in addition to exploring the new and emerging threats in this field.

“Medical fraud can be committed by patients, providers, and others who intentionally deceive the health care system and insurers to receive unlawful benefits or payments, and this type of crime is especially insidious and far-reaching,” said David J. Glawe, President and CEO of the National Insurance Crime Bureau.

With an aging population, increasing drug prices, and more than half of the population suffering from at least one chronic disease, health care spending in the Unites States jumped to an astounding $4.3 trillion in 2021, according to the Centers for Medicare and Medicaid Services.

“With this level of spending comes fraud, which has had a catastrophic impact on the nation’s health care system and economy,” Glawe said.

25,000 Lawsuits by Today? Florida Plaintiff Firms Rushing to File Before Tort-Reform Bill Signed into Law

The Florida Senate approved a take-no-prisoners tort-reform bill Thursday and Gov. Ron DeSantis signed it into law Friday.

The bill, which extends limits on one-way attorney fees, assignments of benefits, and other provisions to most types of insurance claims, would take effect as soon as the ink is dry on the governor’s signature.

And that won’t be a minute too soon, as plaintiffs lawyers have moved to file tens of thousands of claims lawsuits before the new restrictions kick in, insurance industry advocates said Thursday.

An email from Cole, Scott & Kissane, one of Florida’s largest insurance defense law firms, was sent to the firm’s lawyers and has been forwarded around the state. It relates a phone conversation with Matt Morgan, partner with Morgan & Morgan, one of the country’s largest plaintiffs’ firms. Morgan said that the Orlando-based firm will have filed 25,000 insurance-claim cases by this week.

Truckers, insurance industry, frustrated over new California employment law

A new employment law in California has trucking companies, independent trucking contractors, and insurance companies, scrambling to comply at a time of great stress in the industry.

The law makes it harder for trucking companies to classify drivers that work for them as independent contractors. It would also make trucking companies treat independent drivers like employees with full-time work benefits.

According to The Wall Street Journal, thousands of truckers who own or lease their own vehicles and work as contractors will be able to take advantage of employers’ permits and insurance discounts.

Darcy Johnson, senior underwriter, National Truck Underwriting Managers Nancy L. Timmons, assistant vice president – transportation, Amwins Specialty Casualty Solutions