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Daily Insurance Industry News
Sunday 21st of January 2018
December 23, 2009

New technology to enliven home contents market

by Gill Montia

Story link: New technology to enliven home contents market

Enservio is predicting that 2010 will be “the year of contents” in the US, as insurers roll out new products to enhance their offerings.

The Boston-based firm, which provides contents inventory, valuation and replacement services and software, argues that homeowner products have been a “loss leader” in the past ten years.

It blames the decade-long trend on “inaccurate and inefficient contents claims processes” and suggests that new technologies and services can overcome the economics of home insurance.

Chief executive officer, Jon McNeil, comments: “Now that more sophisticated processes and detailed analyses are available, carriers and chief claims officers see contents claims as a compelling opportunity to finally put homeowners’ offerings on track for profitability.”

According to Enservio, early adopters of new contents claims solutions have already dramatically reduced costs and improved customer satisfaction.

Aviva may well take note as it has ambitious expansion plans for the US in the years ahead.

 

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