ERIE, Pa., June 13, 2016 /PRNewswire/ -- Experts say
retiring baby boomers will leave the insurance industry with
400,000 open positions to fill by 2020. According to the insurance
training provider The Institutes, in 2013 the number of employees
aged 55 and older was 30 percent higher in insurance than in any
other industry, and 40 percent of the future job pool—high school
students—were not interested in pursuing insurance as a career.
With that as the backdrop, Erie Insurance is the first in its
industry to deploy Google Glass to test potential improvements in
workforce efficiency. The wearable technology is one way to reduce
travel needs by enabling supervisors to provide remote guidance to
field employees through hands-free, live video streaming. It's
being used in ERIE's Commercial
Risk Control group, which visits businesses to assess their risks
before underwriting – the process insurance companies use to
determine whether a business is insurable. Using the technology
during the underwriting process can lead to quicker coverage
decisions for customers.
"Our experienced risk control supervisors frequently travel with
field employees to provide them with expert advice, training and
oversight," said Jayashree Ishwar,
chief underwriting officer, Erie Insurance. "But now, Google Glass
wearable technology coupled with you-see-what-I-see video streaming
software enables supervisors to provide remote, real-time guidance
without having to be physically present at the business. This
dramatically reduces the amount of time they have to spend on the
road, makes them more readily available to provide expert on-call
advice and can lead to faster answers for customers."
Ishwar said along with reducing travel time and expenses and
improving productivity, the wearables program also is improving
operations by enhancing capabilities for cross-training and
knowledge sharing among employees in different geographic
locations. And, it will help ERIE
more quickly train and pass along the institutional knowledge to
the anticipated influx of new employees as baby boomers retire.
"We're always looking for innovative ways to improve every
aspect of our business, from the products and services we provide
to the way we manage our operations," said Ishwar. She added that,
as a company that's built its reputation on providing highly
personalized customer service, ERIE incorporates the latest technology into
its processes only when it complements its high-touch strategy.
"This is a case of high tech meets the human touch. Using Glass
enables our risk control consultants to provide the in-person
service our customers are accustomed to, while also providing
expert guidance from a distance. The outcome is a better experience
and better result all the way around—for our people and our
customers."
Wearable technology is another in a long line of insurance
innovations introduced by ERIE.
Most recently in 2015, Erie Insurance became the first company to
use a drone in the inspection of an insurance claim. In 2014,
ERIE was the first insurer to
introduce an insurance solution to cover ridesharing drivers.
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About Erie Insurance
According to A.M. Best Company, Erie Insurance Group, based in
Erie, Pennsylvania, is the 10th
largest homeowners insurer and 12th largest automobile insurer in
the United States based on direct
premiums written and the 15th largest property/casualty insurer in
the United States based on total
lines net premium written. The Group, rated A+ (Superior) by A.M.
Best Company, has more than 5 million policies in force and
operates in 12 states and the District of
Columbia. Erie Insurance Group is a FORTUNE 500 company, a
Barron's 500 company and has been recognized by Forbes as one of
America's 50 Most Trustworthy Financial Companies.
News releases and more information about Erie Insurance Group
are available at www.erieinsurance.com.
(ERIE-G)
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SOURCE Erie Insurance