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Prudential Introduces AI Tool To Support Financial Professionals

Prudential Introduces AI Tool To Support Financial Professionals

Prudential Individual Life Insurance has introduced Just Ask, an AI-powered tool designed to help financial professionals access information about Prudential products, underwriting quotes, and new business forms more efficiently.

The tool is now available to Prudential’s third-party advisors and active distributors. According to Prudential, Just Ask allows users to ask questions and receive responses tied specifically to Prudential Individual Life products and processes, reducing the need to navigate multiple systems.

“Our sales teams and their leaders told us they wanted faster, simpler access to information they already use every day,” said Simon Berg, technology business leader for Prudential Individual Life Insurance. “We built Just Ask to support those moments, especially around underwriting, where timing matters.”

Faster Access to Underwriting Information

Prudential said one of the main features of Just Ask is its quick underwriting quote capability. Financial professionals can generate certain underwriting rates in minutes by entering basic client information.

Without the tool, Prudential said the same process can take several business days through traditional channels.

The company noted that faster access to underwriting information can help advisors respond to clients more quickly and keep cases moving forward.

In addition to underwriting support, Just Ask also helps financial professionals locate product details and identify the correct new business forms.

Early User Feedback

Prudential reported that within the first few months after launch, about 85% of first-time users said Just Ask helped them answer their questions.

During that same period, searches for forms represented the most common use of the tool. Underwriting quote requests followed closely behind.

Focus on Daily Workflow Support

Prudential said the tool is intended to help financial professionals handle routine tasks more efficiently by improving access to information.

The company is also evaluating additional enhancements based on how financial professionals currently use the platform. Prudential said future capabilities under governance review may include tools that help financial professionals evaluate their book of business and identify insights related to sales and service activity across their territories.

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The IICF has appointed LoriAnn V. Lowery-Biggers as CEO

The IICF has appointed LoriAnn V. Lowery-Biggers as CEO

The Insurance Industry Charitable Foundation (IICF) has appointed LoriAnn V. Lowery-Biggers as CEO. Lowery-Biggers brings more than 30 years of industry experience to the role. She previously served as President of Lloyd’s North America and held executive leadership positions at The Navigators Group, Inc., Wells Fargo Insurance, Inc., and Marsh McLennan Companies, Inc.

IICFAs CEO, Lowery-Biggers will oversee IICF’s operations and strategic direction while reporting to the IICF Board of Governors. She also serves as a non-executive director on the boards of BMS Investment Holding Company, Brown & Riding Insurance, Inc., CompRe Insurance Group Holdings Limited, and Copper Point Mutual Insurance Holding Company.

Leadership Transition and Strategic Focus

The appointment follows the initial phase of a foundation-wide review conducted by an IICF Special Committee made up of current and former board leaders, along with input from stakeholders across the organization. The committee focused on identifying a leader to guide the foundation’s next phase while reinforcing its core mission of grant-making and volunteerism.

Lowery-Biggers succeeds Bill Ross as CEO. In the coming months, she will work with IICF staff and executive leadership to develop a multi-year strategy.

“This is an important moment in insurance and giving back,” Lowery-Biggers said in a statement. She added that IICF’s role in uniting the insurance industry through philanthropy creates opportunities to strengthen communities and inspire stakeholder engagement.

Stephen Marohn, President of Commercial Lines at Grange Insurance and Chair of the IICF Board of Governors, said the CEO role requires serving as an ambassador who brings the insurance industry together in philanthropic action. He also noted that Lowery-Biggers’ relationships and experience position her to guide IICF’s future efforts and broaden industry representation.

IICF Community Impact

Founded in 1994, IICF operates through four US divisions and two international divisions. The US divisions include the Midwest, Northeast, Southeast, and Western regions, based in Chicago, New York, Dallas, and Los Angeles. The organization also has 11 chapters that support regional engagement. International entities include IICF UK in London and IICF Canada in Toronto.

Since its founding, IICF has awarded more than $55 million in community grants and contributed a total of $68 million in community impact.

The organization provides grants to nonprofit partners focused on children at risk, housing and food insecurity, health and human services, military veterans, social mobility, environmental initiatives, and disaster preparedness and relief. Through its IICF Children’s Hunger Relief campaign, the foundation has delivered millions of meals to children in underserved communities.

Industry and Community Involvement

Lowery-Biggers has also been active in community service and nonprofit leadership. She serves on the board of the A21 Campaign, an organization that combats human trafficking. Additionally, she previously served on the board of IICF’s Northeast Division and participated in international initiatives supporting abused and exploited women and children and promoting ethical business practices.

Based in Dallas, Lowery-Biggers is the co-founder of BellaVaughan, Inc., serves on the board of The Council for Insuring Private Clients, and co-hosts The Leader’s Panel podcast. She has also spoken at industry events, including the National RIMS Convention, the Society of Actuaries, and the Association of Professional Insurance Women's keynote series.

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Verisk Study Compares Replacement Cost Estimates With Total-Loss Claims

Verisk Study Compares Replacement Cost Estimates With Total-Loss Claims

Verisk has released findings from an ongoing analysis comparing replacement cost estimates generated by its 360Value platform with actual total-loss reconstruction estimates prepared through Xactimate and submitted through the XactAnalysis claims network. The report reviewed more than 6,923 total-loss claims submitted between January 2016 and January 2023.

According to the report, the claims analyzed ranged from $60,264 to more than $3.4 million and represented properties in all 50 states. Verisk said the study aimed to measure how closely valuation estimates aligned with reconstruction estimates created by claims and construction professionals.

The company used both manual and automated procedures to identify and evaluate a random sample of total-loss claim files. Trained valuation specialists manually extracted dwelling characteristics from each claim file and entered the information into 360Value for comparison purposes. Verisk stated that the hands-on review process enabled closer scrutiny of the data and more accurate valuations than a purely automated process.

The methodology included several steps. First, Verisk identified total-loss claims using database queries that searched for estimates meeting minimum thresholds for estimate value, room count, and labor trades. Claims involving items associated with partial losses, such as water, fire, or smoke remediation, were excluded.

Next, the company standardized claim values by removing costs not directly tied to dwelling replacement under Coverage A of a standard homeowners policy. These excluded costs included personal property, detached structures, demolition, debris removal, landscaping, and other additional coverages.

Verisk then extracted property characteristics from the remaining claim data, including location, living area square footage, year built, foundation replacement, and home finishes and features. The company also applied price list index data to account for time differences between claim estimate dates and valuation dates. According to the report, building cost data is updated monthly and quarterly across more than 460 pricing areas in the United States and Canada to reflect changing market conditions.

The report stated that the resulting comparison valuations were “within a few percentage points” of the total-loss claim estimates. Verisk reported an average total-loss claim value of $243,678 compared with an average 360Value replacement cost estimate of $244,059, a difference of 0.16%.

The study also identified several factors that can contribute to differences between claim estimates and valuation results. One factor involved the year a home was built. Verisk noted that construction techniques and materials can vary significantly over time, affecting reconstruction costs. To improve accuracy, researchers reviewed claim documentation and public tax records to determine the age of each home.

Another factor was the living area's square footage. The report explained that claim files often provide room-by-room interior measurements rather than total living area calculations. Verisk found that differences between measurement methods ranged from 6% to 15%, with an average difference of 8.7% across 22 structures.

The report also discussed retrogressive index adjustments and home quality assumptions as additional variables that can influence valuation comparisons.

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GEICO Becomes Platinum Sponsor of Small Business Expo

GEICO Becomes Platinum Sponsor of Small Business Expo

GEICO has announced it is now a platinum sponsor of Small Business Expo, expanding its commitment to meeting small business owners where they are and supporting business growth through accessible, tailored insurance solutions. Through its nationwide sponsorship, GEICO is driving awareness and engagement around its presence at Small Business Expo events while positioning the brand as a trusted partner for small business growth. The effort extends beyond on-site activations to deepen connections with small business owners and grow adoption of GEICO’s expanding small business offerings. GEICO recently participated in the Small Business Expo in New York City, engaging directly with small business owners and showcasing its evolving commercial insurance portfolio. The company will continue its presence at upcoming expos in Boston on May 27, Los Angeles on Sept. 30, Dallas on Nov. 4, and Atlanta on Dec. 16 as part of its multi-city strategy. Across these events, GEICO is highlighting insurance solutions designed to work as hard as small business owners do. Its offerings include customizable coverage for commercial auto, general liability, business owner’s policies (BOP), and other essential protections, helping businesses guard against risks such as accidents, property damage, and liability claims while simplifying coverage with flexible, all-in-one solutions. Small Business Expo, founded in 2008, is the nation’s largest business networking and educational event series for small business owners, connecting attendees with products, services, and resources to help them grow and succeed. For more information about GEICO’s small business insurance solutions, visit geico.com/smallbiz. GEICO (Government Employees Insurance Company), the third-largest auto insurer in the U.S., was founded in 1936 and insures vehicles in all 50 states and the District of Columbia. GEICO, a member of the Berkshire Hathaway family of companies, constantly strives to make lives better by protecting people against unexpected events while saving them money and providing an outstanding customer experience. Along with personal auto insurance, commercial auto, and personal umbrella coverages are also available. Homeowners, renters, condo, flood, identity theft, term life, and more coverages are written through non-affiliated insurance companies and are secured through the GEICO Insurance Agency, LLC. Visit GEICO.com for a quote or to learn more. Get the latest insurance market updates and discover exclusive program opportunities at ProgramBusiness.com
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