While it is one of the longest standing and largest industries, insurance has lagged dramatically behind other fields in embracing technology innovation. But in the last year major global insurers are realizing that not even insurance practices can remain insulated from the rapid advancements in technologies occurring around them. Enter CareValidate for Senior Living Liability.
Technology is not a new phenomenon in corporate and speciality insurance. However, the speed of proliferation of new vendors (of both technology solutions and data sources) is arguably unprecedented. It challenges the corporate clock speed of most incumbents and will present opportunities to successful adopters to tilt industry profits in their direction.
Incumbents carriers are finding it challenging to identify the correct response for Smart Insurance.
CareValidate feels that there is no single way to change the course of action. We recommend having a plan encompassing the following three buckets:
Strategy: Should you focus on customer experience, proposition or efficiency?
Technology: Who is the proper partner for your InsurTech needs? As of today CareValidate is the leading insurtech partner for senior living liability.
Execution: Should we innovate within the entire business, dedicated teams? What structures and processes do we need?
Here at CareValidate we want to help you answer these questions or at least facilitate these conversations so you craft a program developed by CareValidate, for your specific needs. We exist to help you expand your competitive reach, provide tailor made policies, and take away all the silos to have one easy readable dashboard of your risk via our flagship product SafeSense for Senior Living Liability.