IOA Blog

What Impact Could Artificial Intelligence (AI) Have on P&C Insurance?

by Staff Writer, on 6/6/18 7:59 AM

A recent report from Allianz discusses the impact the P&C insurance industry and society at large will see from artificial intelligence (AI), including adjustments to the way risks are underwritten and how coverage will evolve. Assuming complete adoption of AI across all industries reviewed, the report claims AI technology is expected to increase corporate profitability in 16 industries across 12 economies by an average of 38 percent.

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Topics: producer/broker trends

Tags: producer/broker, trends

Do I Need Insurance for My Boat or Jet Ski?

by Staff Writer, on 5/21/18 10:51 AM

PERSONAL LINES CONSUMER FOCUS

When summer comes, many of us enjoy spending days out on the water. Whether you own a boat, Jet Ski, wave runner, or other watercraft, protecting your investment and the people enjoying them is critical because you never know when an accident will occur.

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Topics: future planning personal lines

Tags: future planning, personal lines

IRS Reduces 2018 Family Contribution Limit for HSAs

by Isaac A. Cruz, MPA, CWWS, CWWPM, on 3/9/18 4:23 PM

On March 5, 2018, the IRS released its Internal Revenue Bulletin No. 2018-10 announcing a $50 reduction in the maximum amount a family can contribute to its health savings account (HSA) for 2018. Effective immediately, the new 2018 limit for family contributions is $6,850, down from the originally announced amount of $6,900. For individuals, HSA and high deductible health (HDHP) deductible limits remain unchanged for 2018. 

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Topics: health care

Tags: health care