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Advancing Auditing: How the Auditing Process is Evolving infographic

In the past, insurance premium auditing has caused problems for businesses.  Audits were typically conducted by the insurance carrier, and final premiums were often incorrect, leading to unnecessary charges for the business.


In fact, 25-50% of business owners with insurance policies may have been overcharged during the auditing process.  Additionally, annual workers comp premium cost in the United States is between $55 and $60 billion, with about 10-20% of premiums lost to leakage.

Advancing Auditing: How the Auditing Process is Evolving infographic

Improving the Insurance Verification Process

It is important that insurance information is reported as accurately as possible for patients to receive financial support for their expensive treatments. Unfortunately, the current approaches, which include manual, digital, and OCR intake, are not always free of error. These misreports can contribute to the billions of dollars of refused claims per year.

Improving the Insurance Verification Process #Infographic

Fixing the Healthcare Insurance Industry with AI

The market for health insurance faces many obstacles. One of their biggest financial challenges is the $71 billion in claims that are rejected each year because of mistakes made while registering patients. A lot of this is due to human error, because it can be difficult to locate the required information such as insurance payer, payerID, and details about claims submission. It is not readily available on insurance cards, which drives the 19.3% error rate on submitted insurance information.

Fixing the Healthcare Insurance Industry with AI #Infographic

How Much Life Insurance Coverage People Are Buying, By Age

Many younger people in their 20s probably aren’t thinking about life insurance. Most are getting settled in their careers and trying to get their finances in order. However, many financial experts say that your 20s is the best time to purchase life insurance. If you are healthy and do not smoke, life insurance rates are likely to be low. Are younger people buying more life insurance policies than older generations?

How Much Life Insurance Coverage People Are Buying, By Age #Infographic

The Consequences of Manual Input vs Insurance Card Scan

Did you know that the United States healthcare system loses up to $850 billion per year on errors and inefficiency? Many of these errors stem from incorrect insurance information, which can be a costly mistake for medical professionals and patients alike.

The Consequences of Manual Input vs Insurance Card Scan #Infographic

Average Car Insurance Rates by State

On average, drivers in the state of Maine pay $876.00 an annual basis, on average, for full coverage car insurance. This is the cheapest average rate across the United States, and Maine is the only state in the country where this average cost comes in at being below $1,000.00 a year. Drivers within New York State aren't nearly as fortunate when it comes to their car insurance costs, where on an annual basis, full coverage car insurance can cost $2,996.00 on average annually.

Average Car Insurance Rates by State #Infographic

How Inflation Hurts Car Owners

Every American suffers from high inflation rates, but some prices are going up faster than others. Take cars for example. Buying a car is difficult right now, but so is owning one. As of last March, gas prices averaged $4.29 across the nation. It takes more than $50 to fill up an average car’s tank.

How Inflation Hurts Car Owners #Infographic

Why Your Company Should Buy Cyber Insurance

Many businesses store their data on computers and the internet.  While convenient for operations, it also makes companies vulnerable to cyber crime.  Today, cyber crime is comparable to the 3rd largest economy on Earth.  Ransomware is the most common method of attack.  From 2015 to 2020, ransomware damage grew from $24 million to $170 billion. 

Why Your Company Should Buy Cyber Insurance #Infographic

How to Shop For Car Insurance

Shopping for auto insurance can be difficult and time consuming but it doesn't have to be, if you want to decrease your rates with your car insurance provider it can be helpful to shop for auto insurance during certain important times in your life. Check out the infographic below to learn more about how to best shop for auto insurance. 

How to Shop For Car Insurance #Infographic

The Rise of Autonomous Vehicles and Insurance Givebacks

One year later after the global pandemic was felt by all, we are still dealing with the ripple effects that have changed a generation.  Our daily commute has changed how much we drive - in most cases by much less.  At the start of the pandemic, parts of the United States dropped over 60% in their driving. 


While many auto insurance companies responded with some reduced premium returns - in some cases up to 25% spring of 2020 in the form of insurance givebacks - was it enough? Time will tell. 


In addition to insurance givebacks, there has been an emerging trend in the automobile world - to consider in auto insurance - the rise of autonomous vehicles.  How will insurance companies properly a car that no human is driving? 


Take a look for a visual deep dive on on how autonomous vehicles as well as insurance givebacks will impact the auto insurance market below:


The Rise of Autonomous Vehicles and Insurance Givebacks


Infographic by: autoinsurance

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The Rise of Autonomous Vehicles and Insurance Givebacks #Infographic

Insurances in a connected world

Interconnectivity in today’s world is a very integral part. A world where technology is dominating, everything is connected because of the internet, people don’t really know how deeply embedded they are into the digital world. The digital world has changed many trends, eliminated the traditional trends and proposed new, more modern ones.

Insurance is also affected by technology, especially how we have devices that connect to each other. Smart insurers are now focusing on connectivity, digitalization, and an understanding of technology and millennials.

Insurances in a connected world #infographic

The Rise of Natural Disasters across the Globe

Climate change plays a huge factor in how our Earth reacts. The number of natural disasters has increased a lot in the last century and it is due to climate change. The number of natural disasters in 2019 was three times as many as thirty years ago. 820 of these natural disasters caused insured losses in 2019.

The number of people carrying insurance for natural disasters has doubled since 1980. Humankind is delving deeper into nature which causing an imbalance in the procedure and resulting in natural disasters.

The Rise of Natural Disasters across the Globe #infographic

With the world now entering a digital era, a new mindset of the generation is all set to surface. Social media preferences have caused the new generations to place their trust in the content that is available online rather than the brokers of the insurance companies. Many people have now become interested in purchasing insurance from the mega digital insurance firms like Big Tech because of their digitally-driven services. Because of this new revolution, the insurers have directed their focus to attend to the needs and requirements of the customers to understand their motives better.

How does the millennial mindset affect insurance companies? #infograpic

Car insurance rates: 2020 edition

Owning a car means accepting the insurance bills to be a part of your budget. Insurance is a way to ensure the safe repair of your car if any mishap occurs. Car insurance is very common and useful, and this is the reason many people include it in their payment plan.

Car insurance rates: 2020 edition #infographic

Insurance Comapnies' Guide to Compete in 2020 #Infographic

Insurance is one of the most lucrative business models in the current times. With an ability to assess risks and understand expenditure and income, insurance companies build success that is sure to last. But as the trends and technologies evolve, these businesses have to evolve with the times to make sure to keep up.

Digital technology has evolved at lightning-fast speed and dragged everything into a new era of digitization. This constant change and development across the sector means that insurance companies have to change some aspects of their businesses. 

Insurance Comapnies' Guide to Compete in 2020 #Infographic

The number of uninsured Americans in every state
Millions of Americans receive their healthcare and health insurance through an employer-based plan; however more than 27 million Americans remain uninsured and experts predict another 30 million could lose their health insurance because of the Covid-19 pandemic.

Harmony Healthcare IT recently performed a major analysis of health insurance data from every state as well as the most populous metro areas in the country to find out where the most uninsured Americans live today.

Here’s what they found:
  • Millennials are the demographic with the highest percentage of uninsured Americans with more than 6 million millennials between the age of 26 and 34 who are currently without health insurance. 
  • Among the 17 states with the highest percentage of uninsured residents (10% or more), 11 are located in the South or the Southwest region of the country. 
  • Texas is home to the highest percentage of uninsured residents with more than 5 million Texans or 18% of population of Texas without health insurance. 
  • In terms of states with the most insured residents, Massachusetts ranks #1 with only 3% of its population uninsured. Massachusetts is followed by Vermont (4%), Hawaii (4%), Rhode Island (4%) and Minnesota (4%). 

The number of uninsured Americans in every state #Infographic

PI Cover What Really is it?

The same question is being asked all too often. What is Certified Insurance Indemnity? Considering how many professionals work in Australia, the benefits should be better known. Professional Indemnity Insurance is described simply and easily in this chart so that you can get the most out of your business insurance.

PI Cover What Really is it? #infographic

Pocket-friendly one with an Overseas Health Insurance Cover

Your intention to visit Australia could be to enjoy that perfect holiday you’d been waiting for. No? If you’re a student, you’re perhaps waiting to study in one of the best universities of the world. No, again? Ohh, perhaps, you are done with studying and want to work in Australia.

Whatever the case is, if you’re a citizen from a country that does not have a Reciprocal Healthcare Agreement (RHA) with Australia, you should know that you’re solely responsible for the medical expenses that arise. Australian healthcare is extremely costly and could dent a cave in your wallet! But, your Overseas Health Insurance is here to back you!

Pocket-friendly one with an Overseas Health Insurance Cover #infographic

How People Ruin Their Car Insurance

How People Ruin Their Car Insurance-01 Car accidents can happen anytime, despite any precaution that a driver might have. Driving as safe as possible can lessen the chances of getting caught in an accident, but there are still other drivers on the road that can cause an accident due to their negligence or other factors. Car insurance in Manila is necessary to make sure that both the driver and the vehicle are financially protected.

How People Ruin Their Car Insurance #infographic

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