Out of the catalogue of technologies that have the potential to affect the insurance industry, one expert says that artificial intelligence is on track to have the most significant impact in the coming year. In fact, insurers’ investments in AI are increasing on a year-over-year basis, and this trend is set to continue into 2019.

As billion-dollar hurricanes pummel the coasts, insurance carriers are facing a category 5 operations challenge: a snowballing claims-intake challenge. When hurricane season began this year, carriers were still sorting out claims from 2017’s mega-storms, Harvey, Irma and Maria. Then Florence and Michael hit, adding to the backlog.

Quotes from only five data points, or even fewer? Name your number, and you can find an insurer looking to transform the sales experience to match.

J.D. Power’s latest version of its Auto Claims Satisfaction Study has crowned a new top auto insurer, in terms of customer satisfaction ratings: Erie Insurance.

How do you increase quality in claims assessment, management and administration? We share insights into an end-to-end, AI-powered, claims-automation approach to increase quality, improve processing efficiency and reduce cost.

It seems that with every advancement in technology a new threat vector is born. This theory holds true as we begin to embrace the world of cryptocurrency.

Automation is transforming claims processing in myriad ways. Damage appraisals that are completed in only a few hours are becoming the norm―shaving days off cycle time and making the claims process easier than ever before. Insurance customers are getting comfortable with snapping a few photos of their damaged vehicle and sending them to their insurer via a simple mobile claim app. Drones are often dispatched to inspect storm damage on a home, allowing property adjusters to complete virtual damage inspections. Data delivered electronically early in the claims process is revolutionizing the claims workflow, simplifying claim reporting and providing a wealth of actionable data to expedite claim settlements.

The Travelers Companies, a major national insurer, has made an undisclosed but apparently substantial investment in drone operations software company Kittyhawk. The investment strengthens a partnership between Kittyhawk and Travelers and signals a deepening reliance on drones to assess property claims in the insurance industry, particularly after natural disasters.

It’s common knowledge that due to a host of reasons, smaller insurers, municipal risk pools, captives and self-insured groups are hesitant to adopt new technology and thereby adapt their business processes for continuous improvement.

Although 2017 — fraught with catastrophic incidents — was one of the costliest years on record for the global insurance industry, Aon’s new report has found that insurers’ capacity to meet their losses continues to grow.

The Institutes RiskBlock Alliance, a blockchain consortium representing 31 risk management and insurance companies, announced today that it has selected global professional-services organization Deloitte to help advance its blockchain application and product-development efforts.

A potentially devastating Hurricane Florence is rumbling toward the Carolina coast this weekend, but for as historic as each new storm seems to be, insurers are preparing in relatively typical ways like activating additional staff in preparation for an onslaught of claims.

Claims is a people business — virtually every claims executive I have ever met believes this. If you have ever been in a vehicle accident, experienced damage to your home or business, or been injured in a work-related incident, one of the first things that comes to mind is: I need to talk to someone who can assure me that I have insurance coverage and that there will be resources, both financial and technical, to make me whole again.

There’s a hesitation in the claims industry about making a quick decision. And why wouldn’t there be, given all of the information and evidence that might be out there? What if your decision is incorrect?

As monikers go, the “dark web” has certainly lived up to its name. A vast swath of the internet accessible only through special software that keeps users anonymous and untraceable, it is the preferred realm for criminals, threat actors and others who take part in a bustling online underground.