What is insurtech besides an essential component of insurance professionals’ workflow and success? Insurtech is defined as the use of technology innovations designed to find cost savings and efficiency. A realistic example of insurtech is Appulate. Appulate delivers insurance technology solutions that empower networked insurance agents, MGAs, Wholesalers, and Carriers to do business more effectively through automation. In this article, we will uncover more about what insurtech means for specific insurance professionals. We will also share some essential insurtech solutions provided by Appulate to save time on insurance submissions, loss runs requests, insurance distribution, and other common tasks within the industry. Let’s begin by discussing what insurtech is for agents.

For those that have been in P&C insurance for 20+ years, you know the core system investment cycle. Every 10-12 years a shiny new PAS system replacement project takes place. Based on what has been seen in the market, 2021 was the end of the last big cycle. This wind-down seemed to start in 2020 as is illustrated by investment priorities shown in Commercial Line priorities outlined by AiteNovarica1. There was a sudden focus shift to distribution and underwriting. Was this driven by COVID? Maybe, but executives are tired of spending tens of millions of dollars on insurance technology that doesn’t impact the top line.

Living in a digital world requires specific security measures which will ensure the protection of your company’s trustworthiness to consumers, and the protection of your company’s data. This is accomplished through cybersecurity. In this article, we will discuss the best practices for securing your companies data, innovations in cybersecurity relevant to the insurance agency technology, and information on next steps if you feel that your company could benefit from better data protection.

One of the main aspects of an insurance professional’s day is processing ACORD data and supplemental forms. These common tasks should also be the easiest to complete. Therefore, in this article we will explore one of the most commonly used forms in P&C insurance while outlining a more effective way to access it, and process client information. Let’s begin by explaining what the ACORD 125 is used for.

Have you found yourself wondering what some of your colleagues have been doing to expand their business amidst the pandemic? Or maybe you have maintained success during the pandemic, but still face restrictions with the in-person contact needed to properly network. In this article we will discuss how the proper insurtech solutions can make your business “pandemic-proof” and prepare you for the future. Let’s start by briefly highlighting the main issues that accompanied the pandemic and how it affected insurance professionals.

As we know, standard loss run requests are conducted by sending a letter to previous insurers or brokers asking for detailed policy information which includes a disclosure of all claims processed – a very time-consuming process. Loss run requests of the future will provide a more streamlined approach and provide more discretion for the insured requesting to obtain the necessary data. How will this process be enhanced in the days, months, and years to come? Or, has this innovation already been implemented? In this article, we will discuss what the future of loss runs will look like, how it will benefit the insurance industry, and how you can get your business on board with it NOW!

Many major companies are diving into API. In this article, we will discuss what an API is, its benefits to the insurance industry, and how MGAs and Carriers are using API to create a more effective workflow and become more successful. Let’s start by uncovering the mystery of API and see why everyone is so excited about it.

If you have been following the small commercial insurance market and commercial insurance software, you can agree that current insurtech trends are mimicking personal line trends from the early 2000s. Therefore, it is not a matter of “if” but “when” rating comparison engines, automated quoting, and online binding will be the norm. 

Artificial intelligence is found all around us in the form of chatbots on company websites and even in claims processing. As insurance technology solutions continue to evolve, artificial intelligence can become a very helpful tool for insurance innovators and industry professionals. In this article, we will discuss how artificial intelligence is currently used within the industry, we will highlight the pros and cons of artificial intelligence for business, and we will cover how the implementation of A.I. relates to your business.