September 2021
InsurTech Innovation in the Buckeye State
by Judith L. French, Director
In early September, I spoke at an event with 100 or so Insurtech professionals representing both insurance companies and startups in Ohio. I shared the Ohio Department of Insurance’s regulatory role in support of insurance innovation and enjoyed listening to the vision people have for the future of insurance.
The department's support is provided in the form of our Emerging Products and Innovation Initiative. It was established to help new insurance ideas and products come to life in Ohio and continue the state's evolution as the place for insurance innovation.
We are committed at the department to regulatory flexibility and collaborative communication in support of innovation.
We review laws, rules, and regulations, and listen to the interests and needs of companies and startups to figure appropriate adjustments while ensuring the strongest of consumer protections remain in place. We also prefer to inject ourselves early in the ideation process, to establish dialogue, and to quickly help determine -- oftentimes within 30 days -- the best path forward for a new concept or product.
The pace of insurance modernization is unbelievable. I am excited about the opportunity Ohio presents for new approaches. I always like to say to "think of Ohio first". Think of Ohio first as the place to launch that new insurance idea or product.
Please click here to learn more about our initiative and reach out if you have questions. We are here to help.
*Photo courtesy of InsurTech Ohio.
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Businesses Asked to Complete In-Demand Jobs Survey
Governor Mike DeWine and Lt. Governor Jon Husted are asking Ohio businesses to participate in this year’s In-Demand Jobs survey to provide feedback on the state’s In-Demand Jobs list, which helps drive state and federal investments in Ohio's workforce.
The survey is open to all registered Ohio businesses, giving small and large businesses the opportunity to have a voice in how Ohio prepares people for the current workforce. The feedback will shape Ohio's workforce priorities.
The deadline to complete the survey is Oct. 8. You can email workforce@owt.ohio.gov if you have questions and to provide feedback.
Consumer Alert: Protect Against Medicare Scams
Ohioans on Medicare are urged to guard against scams seeking their personal information when selecting 2022 coverage during the Oct. 15 to Dec. 7 open enrollment period.
Ohioans should be on alert for fake Medicare communications seeking personal information or money in exchange for any of the following:
- To help with enrollment, to schedule health services;
- To sign up for a Part D prescription drug plan; or,
- Medicare health plan coverage, and to provide a new Medicare card.
Get consumer protection tips here.
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Ohioans Encouraged to Review Medicare Coverage
As the 2022 Medicare open enrollment period approaches, Ohioans on Medicare should begin evaluating their health insurance and prescription drug options.
The Ohio Senior Health Insurance Information Program (OSHIIP), a division of the Department of Insurance, is conducting virtual and in-person Medicare Check-up Day events through open enrollment. The events help Ohioans understand Medicare and determine the best coverage options for their healthcare needs and budget.
OSHIIP provides free and unbiased services as the state of Ohio's official Medicare education and assistance program.
Understanding Usage-Based Auto Insurance
An increasing number of insurance companies are offering usage-based or telematics auto insurance products.
This unique approach to insurance involves monitoring a person’s driving using a cell phone, embedded technology, or a special device.
The company receives driving data that helps them determine that person’s premium amount. If you are thinking of signing up, make sure you understand how it works.
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Ohioans on Medicare: Sign up for a Virtual Medicare Check-up Day Event and Counseling
Attention Ohioans on Medicare! Register for a Medicare Check-up Day webinar with Medicare experts from the Ohio Senior Health Insurance Information Program (OSHIIP).
Learn about Medicare changes for 2022, how to compare plans and save money, and prepare for Medicare's annual open enrollment period, Oct. 15 to Dec. 7 to select coverage for next year.
Virtual one-on-one meetings are also available! OSHIIP, a program of the Ohio Department of Insurance, provides free and unbiased services and information.
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