The COVID-19 pandemic has impacted nearly every fiber of the world economy. As businesses have had to adjust how they transact with patrons in an effort to curb the spread of the novel virus, on-demand delivery drivers — classified as essential workers — have emerged unsung heroes.
The way insurers collect, analyze and use data is impacting every part of the commercial insurance value chain, from businesses to brokers to insurers.
The global COVID-19 pandemic has caused tremendous damage, claiming millions of lives while wreaking havoc on the global economy. While companies have adopted more technology solutions to combat business disruptions, their overall financial resilience remains particularly vulnerable.
Increasing employee diversity can benefit not just the public perception of an insurer and the pride of its workforce—it can also help expand its customer base. By creating a safe space and sense of belonging for diverse employees to express their views, companies can create innovative products and solutions that can meet the needs of underserved markets.
Maria Cantu, VP of property claims for USAA, is not one to settle for the status quo. In fact, she’s always pushing to innovate in ways that increase empathy in customer service, say her colleagues.
CCC on Wednesday estimated repairable auto appraisal counts were down nearly 20 percent in October. The projections come amid November releases of third-quarter same-store sales data from Gerber Collision’s parent company and 3Q frequency data from Allstate and Progressive.
The insurance industry excels at tactics. If one is an underwriter, a claims person or contact center manager, and a problem is detected, it’s all hands on deck to solve that problem. What tactics could wrestle that problem to the ground? That’s generally the direction the industry is most comfortable with because we are a pragmatic group by nature.
A fast-moving wildfire driven by gusting winds destroyed several homes in Reno, Nev., and forced hundreds to evacuate on Tuesday, prompting Gov. Steve Sisolak to declare a state of emergency.
The auto insurance industry has new contender as of Wednesday. General Motors has launched OnStar Insurance, which aims to create a fairer way to insure drivers.
The National Rifle Association agreed to a five-year ban on doing insurance business in New York state and will pay a $2.5 million civil fine to settle charges it offered insurance to members without a license and concealed how it routinely kept some premiums for itself.
Although the insurance sector has invested nearly $28 billion in customer experience, just 49% of customers feel their insurance provider will be responsive to their basic needs, according to the Customer Compass report, which is a survey by EIS, a core and digital platform provider for insurers.
In a time fraught with world-changing risks, many businesses are naturally looking to upgrade their risk management capabilities. Increasing the budget allocated to risk management is just one step, but business leaders often think this is enough and stop there.
The COVID-19 pandemic has been with us for over nine months now, with no end in sight. During this time, we conducted several Out Front Ideas COVID-19 Briefing webinars and The Path Forward virtual conference. These educational events were designed to provide risk managers and others in the industry with a better understanding of how COVID-19 was hitting our industry.
The Eleventh Circuit Court of Appeals recently released two opinions involving multiple liability claims against an insured with insufficient policy limits. Both cases involved appeals from summary judgment orders in bad faith cases granted in favor of the insurance company.
I was on a panel yesterday as part of the National Workers’ Compensation Defense Network (NWCDN) Annual Conference. We were discussing life now and in the future in the “virtual world.” At one point the topic turned to the challenges of claims management in a virtual environment.
