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ITA Pro Weekly, May 23, 2019

FHM Insurance Company, ITA at IASA, and more news from the best insurance technology association.

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Hot off the Presses!

FHM Insurance Company Goes Live with Insurity’s Cloud-based ‘Workers’ CompXPress’ Policy Administration System

Insurity, Inc., a leading insurance platform provider that offers policy, billing, claims, data analytics and digital enablement, announces that FHM Insurance Company is in production with the Workers’ CompXPress policy administration solution. FHM is a prominent mutual insurance company in the Southeast, with licenses in Florida, Georgia, North Carolina, South Carolina, Virginia, Alabama and Kentucky.
 
The solution provides FHM a complete digital experience for policy and billing, with self-service portals to improve operational efficiency for its agents, policyholders and employees. FHM also opted for Insurity’s market-leading cloud services to enhance data security and scalability. The flexible workflow tools and architecture of Workers’ CompXPress enhance process automation and offer easy application programming interface (API) integrations, allowing customers to execute on their digital initiatives.
 
“FHM is a great partner that understands the changes and demands required of insurance companies in an increasingly competitive market,” says Michele Shepard, Chief Revenue Officer at Insurity. “These digital strategy investments empower employees, agents and policyholders with a better experience, while unlocking more agility to grow their business faster.”

Read more...

Spotlight on the 2019 IASA Conference

Thousands of insurance executives will be descending on Phoeniz, AZ, from June 2-5, 2019 for the annual IASA conference. This conference continues to be one of the "go-to" events for the latest on insurance trends, technology innovation, insurtech partnerships, finance and accounting issues, professional development and much, much more.

As in the past, ITA will be supporting the event as a media sponsor.

If you're attending this exciting event, make sure you pick up a copy of the IASA Show Daily -- a 12-page publication that is distributed to all participants on both Monday and Tuesday mornings of the conference. Each issue provides insight and updates on what is happening at the conference, while highlighting special sessions and educational content.

Read more...

Guest Article

Insurtech's New Normal
by Rod Travers

The insurtech phenomenon is no longer a phenomenon or a movement. It’s a new normal. But how stable is that new normal?

Just like any product or business or industry, insurtech is on a maturity curve. To help gauge the maturity of insurtech, I’m going to co-opt the Capability Maturity Model Integration (CMMI) concept. Granted this isn’t a perfect yardstick, but what would be for this purpose? So here goes.

As you may know, CMMI has five maturity levels:

Level 1 – Initial: Process unpredictable, poorly controlled, and reactive
Level 2 – Managed: Process characterized for projects
and is often reactive
Level 3 – Defined: Process characterized for the organization
and is proactive
Level 4 – Quantitatively Managed: Process measured and controlled
Level 5 – Optimizing: Focus on continuous process improvement

Read More...

Breaking News from the Insurance Industry
 
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