Businesses operating in regulated industries, especially in the financial services sector, are facing greater fraud risks than ever before.

As the insurance industry grapples with how to survive in a changing business, third-party administrators [TPAs] need to consider the expansion of their services to meet the needs of insureds. These claims administration firms are the industry’s ‘sleeping giant.’

Nothing affects carriers’ bottom lines like claims; too many are not just capable of wiping out company margins but can jeopardise company survival full stop.

From high praise to a spiraling crash, opioid-based pain medications are out of favor. Once thought to be the solution to chronic pain, opioids opened the door to an even bigger and scarier addiction epidemic — one that menaces the workers’ comp industry and the population in general.

‘If it ain’t broke, don’t fix it’ is a mindset that’s potentially limiting growth in the US workers’ compensation insurance industry.

2017 will be remembered as the landmark year for digital transformation of claims processing within the property/casualty insurance industry.

Three employees of a Hollywood-based water restoration contractor have been ordered to turn over three years of cellphone records as part of a Heritage Insurance lawsuit accusing the contractor of obtaining trade secrets from a Heritage “mole.”

On February 8 I had the pleasure of attending the Insurance Business America’s Millennials in Insurance Conference in New York where I learned from some of the most engaging industry experts and the Millennials themselves about what the industry is doing to attract and retain new employees.

On the surface, it may seem redundant to think that underwriters are averse to loss. After all, our job is to make sure the policies we write for our respective companies earn more in premium than the claims and expense dollars that are paid.

In 2017, Texas homeowners suffered significant losses from Hurricane Harvey, severe hailstorms and tornadoes around the state. Despite another year of bad weather, data from the Texas Department of Insurance (TDI) shows that justified consumer complaints continued to be low.

Argo Insurance is planning to launch a new pilot program with insurtech startup Kinetic, a maker of wearable devices, aimed at preventing back injuries and corresponding injury claims from its restaurant, supermarket and retail clients.

A majority of insurers plan to significantly increase spending on emerging technologies, such as artificial intelligence, and create separate business units—or innovation labs—to develop and market new products.

You are providing risk advice to a company accused of wrongdoing. What do you think about your client offering voluntary gift cards as a strategy to reduce liability?

It’s been almost 40 years, but how much has the claims space — and the role of a claims handler — changed since 1979?

Claims transformation is being pushed to the top of insurers’ agendas thanks to a changing marketplace, heightened customer expectations, and pressure to reduce costs, says Zurich’s head of claims strategy.