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ITA Pro Weekly, April 10,2020

Hyland on CX during COVID-19, Allstate returns $600 million in auto premiums, ACORD’s new digital standards, and more…

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Hot off the presses!
The stay-at-home orders and other business disruptions arising from the COVID-19 pandemic have companies in virtually every industry scrambling to solidify remote work teams and introduce other changes to keep them in business. Steve Comer, director of financial services and insurance at Hyland Software, discusses how the company is working closely with its customers to help them remain operational now and after the pandemic subsides.

“The social distancing and stay-at-home orders associated with the COVID-19 crisis have generated a lot of visibility on the technology platforms that can help enable a larger remote workforce and support “no-touch” customer engagements. While content services platforms are an essential part of the digitization organizations need right now, these solutions aren’t new and aren’t going away.
 

With fewer drivers on the road due to coronavirus lockdowns, Allstate and Esurance are planning to return more than $600 million in auto insurance premiums to customers, with most customers receiving a payback of 15% of their monthly premium in April and May, the company said.

“The payback, which will apply to 18 million policies issued by Allstate and its Esurance and Encompass units, follows a data analysis by the insurer that showed mileage is down between 35% and 50% in most states, Allstate Chief Executive Officer Tom Wilson said during a call with reporters Monday.”

 

ACORD, the global standards-setting body for the insurance industry, today announced the release of Version 1.0 of its Next-Generation Digital Standards for insurance data exchange. Developed in partnership with leading industry organizations, the Standards enable omnichannel information exchange using fine-grained business transactions.

"Change in the global insurance ecosystem is accelerating," said ACORD CEO Bill Pieroni. "Embracing streamlined data exchange will allow insurance stakeholders to leverage new and emerging technologies to benefit themselves, trading partners, and insureds."

 
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