Workers’ compensation (WC) claims can significantly dent a business’s productivity and margins. Out-of-work employees coerce company leaders to manage with inadequate workforces while training replacement staff and augmenting employee safety. The average cost for a WC claim is $41,003. A leading WC risk is ergonomics-based incidents, including manual material handling and repetitive upper extremity movements…
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Digital embedded insurance propositions are expected to be more of micro-insurance products with high volumes and low premiums. That necessitates cost of sale to be low and transactions to be automated. Examples are flight delay cover embedded into flight costs, purchase of a bag of seeds with inclusion of crop failure cover due to drought.…
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Small-business customers are important drivers of economic health, but stay vulnerable to future shocks and are routinely hardest hit. Insurers carry the mantle to provide these businesses the resilience and stability to address volatility with greater confidence. Per American Bankruptcy Institute, 255000 businesses filed for bankruptcy protection in 2020, till May. The number of Chapter…
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