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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

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