Entries by Perk Reichley

The Escalating Cyber Threat Landscape of 2024

The recent reports from the FBI and the Identity Theft Resource Center (ITRC) have painted a stark picture of the current cyber threat landscape. With a record-breaking $12.5 billion in losses from cyber incidents in 2023, the urgency for enhanced cyber defenses is undeniable. Investment scams, leading the financial losses, highlight the evolving sophistication of […]

AI Is Here To Stay, But Will It Kill Customer Service?

Integrating Artificial Intelligence (AI) into various sectors has been a revolutionary step towards automation and efficiency. The insurance industry, known for its reliance on personal relationships and human judgment, is no exception. As AI continues to evolve, there’s growing concern about its potential to disrupt traditional customer service roles, particularly those of insurance agents. This […]

Risk and Insurance Trends To Watch in 2024

In the evolving landscape of business operations and risks, insurance coverage trends are rapidly transforming to address new challenges and opportunities. Businesses today face a multitude of risks, from cyber threats to climate change impacts, necessitating more adaptive and comprehensive insurance solutions. Cyber Insurance: A Must-Have in the Digital Age As businesses increasingly rely on […]

How Insurance Agents Can Foster Long-Term Relationships with Clients

  In the dynamic and competitive landscape of the insurance industry, cultivating long-term relationships with clients is essential for sustainable success. Beyond just selling policies, insurance agents serve as trusted advisors, guiding clients through life’s uncertainties and helping them protect what matters most. By focusing on building strong and enduring relationships, insurance agents can not […]

Continuous Learning, An Agents Best Resource

In the realm of insurance, knowledge is more than just power, it’s the cornerstone of client trust and industry success. Let’s look at how a deeper understanding and continuous learning in insurance can revolutionize client interactions and establish a dominant presence in the market.Top of Form   The Pitfall of Surface-Level Knowledge In a world […]

The Crucial Need for Stand-alone Cyber Insurance Policies for Small Businesses

In the digital age, the threat of cyberattacks on small businesses is not just a possibility, it’s an alarming reality. Cybercriminals are becoming increasingly sophisticated, leveraging complex tactics to exploit vulnerabilities in small business networks. This emerging threat landscape necessitates a reevaluation of how small businesses approach cyber insurance. Many small businesses currently rely on […]

Auto Insurance Troubles in 2024

In December 2023, the United States witnessed a remarkable surge in motor vehicle insurance premiums, marking the most substantial increase since the mid-1970s. According to government data, these premiums escalated by a notable 20.3% compared to the same period in the previous year. This rise in insurance costs has emerged as a significant element in […]

How AI Might Turn the Insurance Agent-Customer Connection into a Dark Comedy

In the swirling chaos of artificial intelligence (AI) infiltrating the insurance industry, there’s a subplot emerging. As AI takes its place on the stage, promising efficiency and innovation, there’s a risk that the once-harmonious relationship between insurance agents, insurance companies, and customers may be in for a twist and not necessarily the good kind. We […]

Navigating Insurance, A Year In Review 2023

The insurance industry saw significant changes in 2023 due to technological advancements, regulatory shifts, and economic uncertainties. Let’s examine the major concerns for individuals and businesses within this evolving insurance landscape, emphasizing the need for strategic planning and informed decision-making. Top Insurance Issues In 2023 Cybersecurity Threats: With the digital age intensifying, families and businesses […]