The Centers for Medicare and Medicaid Services’ (CMS) current approach to workers’ compensation liability claims is leading to consternation and confusion among many industry insiders, it has been suggested.

For independent adjusters, the need to replace retiring workers is becoming more urgent.

As I watch the insurtech space, I see a fair bit of hype around disruptive technology. Some of what I see reminds me of the dotcom boom of the late 1990s. Then, as now, lots of startups promise to deliver something ground-breaking, and all are competing in the same space, with many of the same ideas.

Nationwide Insurance issued 191 layoff notices to Des Moines workers this month — more than double the number previously announced by the company.

The arguments surrounding the need for change in the insurance industry have largely been won. In recent years, dramatically increasing regulations, competition and customer expectations, along with dwindling resources and shortages of technical skills, have combined to produce an environment of uncertainty.

Insurance companies are only beginning to harness the potential of artificial intelligence (AI) and robotic process automation (RPA). AI refers to computer systems that can mimic human capabilities by learning and solving problems. RPA is an emerging form of business process automation technology based on using software robots or AI “workers.”

Many insurance companies suffer from slow and inefficient claims processes, which are notoriously lengthy and cumbersome for both the insurance companies and their customers. From long and difficult back and forth to messy, complicated paperwork, claim cycles can be a real pain for all involved.

While "getting to simple" may take hard work and persistence, there are some core ways to help those in this important endeavor.

Fraudulent claims continue to plague the global insurance market, but proponents of blockchain technology insist that a solution may soon be at hand. When implementation of these decentralized digital ledgers becomes widespread, some believe fraud could be reduced significantly.

Unconscious biases, which are attitudes, behaviors, and actions prejudiced in favor or against specific groups of people that everybody holds, and are formed automatically and unintentionally, according to the National Institutes of Health, create challenges when it comes to recruiting and retaining a diverse workforce.

Historically, the insurance claims process for property damage starts with a claims professional assessing damage on-site and ends by giving a homeowner a check for fixing the damage. This old model places the responsibility on the property owner to research and vet qualified contractors to start the restoration process, a particularly heavy burden to bear in moments of crisis.

Facing competitive pressure from start-ups and tech giants, traditional insurers are being forced to embrace innovation and change at a rapid pace. Today’s tech-savvy customers expect a seamless and integrated digital experience from their insurers.

Aon PLC and Australian insurtech firm Claim Central Consolidated Pty. Ltd. have established a strategic alliance to automate insurance and reinsurance claims handling, Aon said in a statement Tuesday.

New York’s Department of Financial Services (NYFS) has released new guidelines that will allow life insurance companies to use data from customers’ social media posts to determine their premiums, and experts say that these rules could potentially extend beyond New York’s borders.

The insurance industry, like so many others, is in a state of upheaval that will continue to play out in 2019. The disruptive forces at work in the industry have come into sharper focus over the past 12 months, and industry players across the board are now in motion as they race to adapt.