How To Avoid Getting Shafted By Wrong Insurance Data On You

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Property-casualty insurance is a mystery to most. How do the insurers set those rates, and why did your premiums go up, even if you had no claims. Maureen Crimmins of Crimmins Wealth Management in Woodcliff Lake, N.J., has one answer, a document that the carriers keep that few know about:

Larry Light: OK, so why as your automobile or homeowner’s insurance premium risen substantially even though you haven’t had any claims or received any tickets for driving infractions?

Maureen Crimmins: The cause could be an error in your C.L.U.E. report. The report database is called C.L.U.E., or Comprehensive Loss Underwriting Exchange, by LexisNexis Risk Solutions.

Light: What’s that?

Crimmins: It’s essentially like a credit report for insurance companies. It includes a five- to seven-year history of claims you’ve filed. The majority of insurance carriers provide claims data to it—data that includes names, birth dates and

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Markets are up and the economy is down. Some next moves for investors

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The New York Stock Exchange.

Andrew Burton | Getty Images

The financial markets are rising and the economy is falling. What is with this disconnect between the two? Many investors may be asking themselves if this is all a cause for concern.

So, what’s an investor to do?

To begin with, the financial markets were doing quite well before the pandemic. In fact, the S&P 500 Index closed at a record high (3,386) on Feb. 19. But once Covid-19 cases started spreading in the U.S., the markets plunged. By March 23, the S&P 500 had fallen about 34%.

Fast forward a few months, however, and the numbers tell a different story. By the end of the first week in August, the S&P 500 had risen nearly 50% since March 23, regaining almost all the ground it had lost.

Meanwhile, at the same time of this market rally, the overall economy

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Abaka launches Chatbot as a Service solution for financial firms

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  • baka debuted a conversational chatbot product for financial firms to integrate into their digital channels, complementing its existing AI applications.
  • The move will be especially useful for smaller players’ digital transformations.

The off-the-shelf offering enables financial advisors, wealth managers, retail banks, insurers, and retirement providers to integrate an AI chatbot, Finextra reports. Launched in 2015, Abaka is a technology platform that provides AI solutions to financial firms of all sizes, and it has offices in the UK, France, Singapore, and the US.

Reported benefits of using AI interactions for global banking and insurance customers

Abaka launches Chatbot as a Service solution for financial firms.

Business Insider Intelligence


Abaka’s chatbot promises to boost financial firms’ client engagement and satisfaction, and complements its existing products.

  • Financial firms are keen to use chatbots to improve customer interactions, but they face implementation challenges. Forty-nine percent of global consumers say that AI interactions in insurance and banking provide better security and privacy around personal data than humans
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Wind Turbine Generator Market: COVID-19 Business Continuity Plan | Evolving Opportunities with ABB Ltd. and Alxion

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The global wind turbine generator market is expected to grow by USD 7.22 billion as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 4%.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200917005068/en/

Technavio has announced its latest market research report titled Global Wind Turbine Generator Market 2020-2024 (Graphic: Business Wire)

Request challenges and opportunities that influence COVID-19 pandemic – Request Free Sample Report on COVID-19 Impacts

Read the 120-page report with TOC on “Wind Turbine Generator Market Analysis Report by Application (Onshore and Offshore), Geography (APAC, Europe, North America, South America, and MEA), and the Segment Forecasts, 2020-2024”.

https://www.technavio.com/report/wind-turbine-generator-market-industry-analysis

The market is driven

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A Car Insurance Claim Estimate Before the Tow Truck Is Called

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As insurance companies have pulled their employees out of the field, the use of virtual estimates has jumped. CCC Information Services, a Chicago company that markets its own A.I.-enhanced Quick Estimate app to insurers, recently reported a 125 percent increase in app use since March — even though traffic levels and accident numbers plunged when states locked down.

Even before the pandemic, major U.S. carriers were exploring the use of A.I. to speed claims settlement. Liberty Mutual’s in-house technology incubator, Solaria Labs, began work on an A.I. estimating algorithm in 2018. The company now uses it to give appraisers a head start on estimates.

USAA took a different approach. Rather than develop its own algorithm, it teamed with Google. Customers can upload photos of their damaged cars for analysis by Google Cloud’s Vision API. That damage assessment is then handed off to another partner, Mitchell International, which also uses A.I.

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What to Do if You Can’t Pay Your Personal Loan

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A woman leaning over a man's shoulder as he sits in front of a laptop with his head resting in his hand and holds up a piece of paper.

Image source: Getty Images

If you find yourself in financial straits and cannot pay your personal loan, you need a plan of action. Here are the steps you should take to address the problem.

Call your lender

Before you miss a payment, call your lender. It may be the last thing you want to do, but it’s essential. Only your lender can tell you about any available options. For example, they may be willing to defer payments for a few months. They may accept a partial payment, forgive the fees, or offer another program to help you get caught up. If your lender does suggest a solution, stick with any deal you make.

Although the call may be uncomfortable, it can salvage your credit score. Missing a single personal loan payment will drop your score. How much depends on your credit history and how you are managing other debt. If

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SS&C Launches Accredited Financial Services Education Library

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WINDSOR, Conn., Sept. 16, 2020 /PRNewswire/ — SS&C Technologies Inc. (NASDAQ: SSNC) today announced it has released a new online education product for financial professionals. SS&C’s GAMMA is a digital library of online courses optimized for remote learning by financial industry professionals. The product provides seamless access to hundreds of online courses across more than 30 financial topics, from accounting and finance basics to portfolio management and software skills.

The library of innovative, interactive online courses is accredited with various industry associations and organizations to support key industry certifications and designations, including:

  • CPA®: National Association of State Boards of Accountancy (NASBA) CPE credits for Certified Professional Accountants®
  • CIMA®, CIMC®, CPWA®, RMA®: Investment and Wealth Institute (IWI) CPE credits for Certified Investment Management Analysts®, Certified Investment Management Consultants®, Certified Private Wealth Advisors® and Retirement
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3 Ways for Small Business Owners to Make Their Vote Count

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On November 3, as usual, small business owners will bring one of the highest voter turnouts of any group, with 93 percent of owners expected to vote in this year’s presidential election. Your business probably shares a lot of the same concerns with other small business owners, especially in these pandemic-stressed times. 

Politicians looking to win the small business vote should start by addressing the two largest barriers to entry entrepreneurs face when starting a business: access to capital and the implicit bias in capital decisions that limits opportunities for the New Majority of small business owners. In the last 10 years, New Majority entrepreneurs have represented more than 50% of new businesses started in this country, creating 4.7 million new jobs, yet these owners are largely excluded in funding. Only 5.5 percent of women-owned businesses in the U.S. access capital from banks or other financial institutions compared to 11.4

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Planet Money’s Adam Davidson: ‘passion economy’ business is the future

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  • In this new book “The Passion Economy,” podcast Planet Money host Adam Davidson explains the shifting terrain of the business world.
  • Thanks to automation and new technology, entrepreneurs need to employ a specific strategy if they want to succeed in a marketplace dominated by titanic corporations.
  • The passion economy rests on two pillars: create intimacy at scale and don’t be a commodity. Davidson’s book offers nearly a dozen real-world examples of his theory.
  • Visit Business Insider’s homepage for more stories.

 

According to Planet Money cofounder Adam Davidson, American business is undergoing a fundamental shift toward what he calls the “passion economy.” This new landscape is the result of two diffuse factors acting in concert: automation eliminating jobs and technology creating new opportunities. 

The result: a rising class of entrepreneurs who thrive by solving the hyper-specific needs of a niche, often disparate customer base. To Davidson, this new system is the

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ServiceNow launches latest Now Platform, telecom and financial services workflows

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ServiceNow launched a new version of its Now Platform, code-named Paris, with editions for telecommunications and financial services as well as workflows for business continuity, hardware asset management and legal services delivery.

The company, which is gunning to be the “platform of platforms” to automate enterprise workflows, has seen strong growth due to digital transformation as well as management of COVID-19 back-to-work plans. Also: ServiceNow launches four-app suite to manage the move back to the office

“The 21st century enterprise is different. It has to be nimble, intelligent and drive employer and customer loyalty,” said ServiceNow CEO Bill McDermott. “And it has to be self-funding with time to value in weeks to months.”

McDermott’s argument is that the COVID-19 pandemic has exposed weak links and silos in enterprise value chains. For instance, companies can’t be agile when they have a bunch of systems that specialize in one task, say sales,

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