13 Emerging Techs: How Insurers Are Progressing

There are several different ways to categorize the emerging technologies that are impacting the insurance industry, according to SMA partner Mark Breading.
September 16, 2016 Risk Management Technology

Google Seeks Insurance Partners

Google is looking to establish partnerships between insurance companies and some of its businesses, including Nest, which makes smart thermostats and smoke detectors, the managing director of its French division said.
September 15, 2016 Risk Management Technology

Remodeling The Insurance Industry With Drone Technology

To some, they’re toys; to others, weapons. We’re still figuring out how drones fit into our lives as tools for observing, transporting, communicating… and who knows what else.
September 8, 2016 Risk Management Technology

Delta Outage A Wake-Up Call for Insurers

Early in my career, I had the opportunity to tour a corporate disaster recovery (DR) center, right in the heart of center city Philadelphia. The facility, housed within a solidly built World War II-era tank factory, had every kind of system available, from IBM and Honeywell mainframes to rooms of PC servers.
August 12, 2016 Catastrophe Risk Management Technology

Insurers “Have A Huge Problem” With The IoT

The “Internet of Things” is exploding. Billions of connected smart devices, from FitBit chips to mobile trackers used by trucking companies, use wireless technology to communicate and streamline personal and commercial processes
August 12, 2016 Risk Management Technology

Insurer Accused Of Conspiring To Prevent Payments To Lead Poisoning Victims

State officials are investigating an allegation that a British insurance company is conspiring to prevent lead-poisoning victims in Baltimore from recovering damages.
August 8, 2016 Litigation Property Risk Management Maryland

Homeowner Awarded $1.3M After Insurer Refutes $134K Water Damage Claim

A north Torrance man has won more than $1.3 million from an insurance company that declined to fully cover a claim of about $134,000 in property damage caused when burglars broke into his home, then flooded part of it when they filled the bathtub and left the taps on before fleeing.
August 4, 2016 Litigation Property Risk Management California

Why Insurers Should Take Texting More Seriously

There is no dismissing the power of the mobile channel as it applies to insurers’ ability to obtain and service business. TextRequest.com statistics from 2015 hold that 84% of Americans report that they can’t go a single day without checking their smartphone, and admit checking it 150 times per day, including first thing in the morning.
July 26, 2016 Risk Management Technology

Fortune Releases List Of Best Places To Work In Insurance

Fortune recently unveiled its list of the 30 best workplaces in the finance and insurance industries, revealing that a fair number of the nation’s top insurers made it to the list.
July 22, 2016 Risk Management

Alberta Businesses, Insurers Seek Ways To Reduce Exposure From Hail Damage

"Hailstorm Alley" can be a very unforgiving place. The area — which runs from High River, just south of Calgary and north to central Alberta — hosts more than 40 hail storms every summer causing hundreds of millions of dollars in damage.
July 20, 2016 Property Risk Management

Florida’s Citizens Insurance To Investigate Excessive Water Damage Claims

The Citizens Property Insurance Corp. board of governors Tuesday approved a $1.8 million contract with a company that will examine escalating water damage claims from policyholders and determine whether the charges are excessive.
July 20, 2016 Legislation & Regulation Property Risk Management Florida

External Cyberattacks Cost U.S. Businesses $3.5M Annually

External cyberattacks are costing businesses in the United States about US$3.5 million in incurred annual costs, with 79% of polled businesses lacking comprehensive strategies to manage these risks, according to a new Ponemon Institute study sponsored by BrandProtect.
July 19, 2016 Liability Risk Management Technology

Anti-Fraud Groups Fight For EUOs Without Court Involvement

Examinations under oath help insurers combat fraud and should be allowed without requiring time-consuming court orders in Kentucky, the Coalition Against Insurance Fraud and National Insurance Crime Bureau say in a joint amicus brief filed today with the state’s highest court.
July 14, 2016 Fraud Liability Risk Management Kentucky

How Insurance Companies Work With Insurtech Partners

Insurers have become very active in insurance accelerators and startup investment over the past year, but must embrace failure in order to innovate, according to insurance tech analyst firm Novarica.
July 12, 2016 Risk Management Technology

Predictive Analytics To Drive More Workers’ Comp Decisions

Big Data is changing the way the world does business, and this is nowhere more true than in the financial realm. According to Dax Craig, CEO of Valen Analytics, more than half of all property and casualty insurers are now using predictive analytics to determine pricing and simply to decide which risks are more or less attractive to insure.
July 1, 2016 Risk Management Workers' Compensation
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