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As California's insurance crisis show little to no sign of abating, Insurtech Insights examines the state's regulatory climate and outlines the challenges leading to homeowners losing their policy power. We discuss: ➡ Economic climate ➡ Impact on the customer ➡ New regulatory shifts ➡ Regulation vs past and future data ➡ What the future could bring With thanks to Rosina Smith, CPO of McKenzie Intelligence Services for her insights in compiling this report. She says: “In these sorts of territories, insurance has proven to be a sophisticated mechanism to drive the resilience of communities facing frequent natural disasters and so, it seems fitting that, with modification, it should continue to be a prominent solution.” #insurtechinsights #insurancenews #california https://lnkd.in/eTk6eASK

Zala Insurtech News: Ten major insurers have now withdrawn services or announced their exit from California, leaving hundreds of thousands of customers without insurance options in the face of increasing threats from natural catastrophes. What does the future hold? Insurtech Insights finds out more.  The post California Screaming: The Future of Insurance in the Golden State appeared first on Insurtech Insights. Read on below >> #insurance #innovation #insurtech

Zala Insurtech News: In this latest Thought Leadership article, Rory Yates, Chief Strategy Officer at EIS, examines the Gap insurance quandary and explores how the FCA is attempting to level the playing field for customers. The post Mind the Gap: What is Gap Insurance and How Does it Work? appeared first on Insurtech Insights. Read on below >> #insurance #innovation #insurtech

With the Labour party winning the General Election last week, this will inevitably impact the Insurance market. But how ? As Rory Yates says “Government collaboration with insurance is vital. Insurance has a profound impact on cost of living, concerns around risk, how well our business is enabled to grow, and so on. So why is it often left out of the big processes of change?” Read more about it in this article: https://lnkd.in/eaTh_STE

Mind the Gap: What is Gap Insurance and How Does it Work? #GapInsuranceandHowDoes #MindtheGap

Mind the Gap: What is Gap Insurance and How Does it Work? #GapInsuranceandHowDoes #MindtheGap

How you deliver bad news can make or break client relationships and your reputation. Getting it right doesn't need to take years of experience - you can learn this essential skill right here, today! Check out our newest course: Strategies for Delivering Bad News in Insurance https://ow.ly/P5Xy50SCEYh #insurance #customerservice

Rory Yates, CSO of EIS Ltd, examines the Gap insurance quandary and explores how the FCA is attempting to level the playing field for customers. in this latest thought leadership article, find out ➡ What Gap insurance is - and why it matters to the customer ➡ The FCA's current handling of Gap insurance ➡ What insurers should do in response to the latest regulations He says: "Some GAP Insurance providers have agreed to “pause” sales of their products following a request from the Financial Conduct Authority. This came about after the FCA had written to insurance providers warning them it might ‘intervene’ in the market, asking them to voluntarily withdraw their products from sale. As the FCA confirmed this they also revealed some 80% of the market has agreed to suspend the sale of Gap insurance products." #insurtechinsights #thoughtleadership #fca #insurance https://lnkd.in/exmvE4n4

Great insights that re-affirm the importance of pro-consumer claim’s services. Partnering with OMC Claims can ensure consistent outcomes delivered by expert professionals.

10 Insurance Industry Predictions for 2024 #InsuranceIndustryPredictions