- Bob Lilly
What The Insurance Industry May Look Like In 2017
Insurance Trends For Texas For 2017
2017 is here and insurance companies are changing how they manage your policies. This means that pricing and services for Texas business insurance and personal insurance is changing, mostly for the better. We have compiled a list of trends that you may find interesting. These trends will also influence how claims are handled, what kind of coverage is offered, and how the insurer services your account.
Trends That Will Impact Business and Personal Insurance
Use of Drones – Drones may be used to collect information on your building and will be used to collect real time information on large losses.
Google and Zillow – Underwriters will use information on these sites to verify information on personal lines applications.
Social Media -- Social media data provides real-time information about claims severity and localization and helps prevent fraud.
Homeowner’s Insurance – Coastal claims will continue to add pressure to increase rates in many areas.
Real Time Sensors -- Factory and home sensors and telematics systems on cars and trucks will increase and add value to the underwriting process. This will give the better risks more discounts. For example, having vehicle sensors will allow personal lines insurers to offer discounts to drivers who follow traffic laws.
Digital Engagement – There will be greater opportunity to manage your business insurance or personal insurance online 24/7.
Whether you’ve just started a home-based business or your business is established and growing, Shepard Insurance Agency can help you protect your livelihood against the unexpected. We offer tailored programs for all types of businesses and professions in McAllen, TX, the entire Rio Grande Valley and the great State of Texas.
Call us at (956) 686-3888 or start a Free Rate Quote. We can review your insurance requirements and create a portfolio to protect your assets and minimize your risk of loss.