Your Insurance Adjuster May Soon Be A Drone Or An App
Your insurance agent may start looking a bit more … robotic in the months and years to come. As we continue to inhabit an increasingly digitized world, a growing number of our interactions will be not with our fellow humans, but with machines.
August 7, 2017
Auto
Property
Risk Management
Technology
Aviation Insurers Success Based On Knowledgeable Claims Team
Aviation has a huge presence in America. The industry supports more than 10.5 million jobs in the US annually and there are almost 40,000 US, private or public airports across the country, catering to more than 2.5 million domestic and international flight passengers every day.
August 4, 2017
Excess & Surplus Lines
Risk Management
Floridas Citizens Insurance Solicits Claims Adjustment Firms In Preparation For Hurricane Season
Citizens Property Insurance Corp. has found another 315 claims adjusters to deploy after the next major hurricane hopefully reducing long waits for customers who will be eager to get paid and start making repairs.
August 4, 2017
Catastrophe
Property
Risk Management
Florida
Practical Lessons For Managing Cyberrisks
Of all the dangers that consume risk managers thoughts, cybersecurity is arguably the most intangible. It is difficult to truly “see” the many factors that can cause breaches or attacks, which often leaves cyberrisk confined to the realm of hypothetical and worst-case scenarios.
August 3, 2017
Risk Management
Biometrics On The Rise As Insurers Look For Smoother Experience
Biometrics, or the measurement and analysis of unique physical or behavioral characteristics as a means of verifying personal identity, is being explored across financial services. The insurance industry is no exception, as carriers work to familiarize themselves with the latest emerging technology that encompasses everything from fingerprints to voice to facial structure.
August 1, 2017
Risk Management
Technology
Lawsuit Says Wells Fargo Auto Insurance Charges Were A Fraud
A new lawsuit accuses Wells Fargo & Co (WFC.N) of racketeering violations and fraud after the bank admitted to charging several hundred thousand borrowers for auto insurance they did not ask for or need, causing many delinquencies.
August 1, 2017
Auto
Litigation
Risk Management
Wells Fargo Owes $80M To Customers Overcharged For Auto Insurance
Wells Fargo and Co has announced that it will refund approximately $80 million to 570,000 customers who may have been erroneously billed thanks to issues with the banks auto collateral protection insurance (CPI) policies.
July 31, 2017
Auto
Risk Management
What Industry Gets Wrong On Big Data
Recently, I wrote about a startup called Aviva. (My comments were based on an article I read.) Avivas CEO said, “Whats our long-term goal? To go from ask-it-once to ask-it-never so customers dont have to answer any questions at all.” How can coverage be booked without asking ANY questions?
July 27, 2017
Risk Management
Technology
Insurer Ordered To Pay After Denying $4.8M Claim
A New York judge has ordered a Chubb subsidiary to pay a $4.8 million claim to one of its insured, after the insurer wrongly denied the claim.
July 26, 2017
Excess & Surplus Lines
Litigation
Risk Management
New York
Insurtechs Are Redefining Claims Expectations
Claims has often been called the “moment of truth” for insurers, especially in property and casualty lines. With few opportunities to interact with customers, a bad experience at the time of a claim can be a deal-breaker that sends customers looking for a new provider.
July 26, 2017
Auto
Property
Risk Management
Technology
AI Claims Bot Allows Insurtech Companys Adjusters To Focus On Customer Service
Pay-per-mile insurer Metromile has announced the launch of a new AI claims system designed to eliminate manual processes used to collect accident data and distribute payments to customers.
July 25, 2017
Auto
Risk Management
Technology
California
Illinois
New Jersey
Pennsylvania
Drone Usage Becoming Standard Practice With Major Insurers
To an increasing degree, adjusters are using insurance company drones to help them to assess the damage in routine claims processes. These gadgets let adjusters check out rooftops, and other difficult to reach areas without having to risk climbing up on a ladder or checking into parts of properties that have sustained damage from weather or other unexpected events.
July 17, 2017
Property
Risk Management
The Institutes Launches U.S. Blockchain Consortium
The Institutes, a provider of educational materials and consulting for the P&C industry, is launching a blockchain consortium with the goal of spurring development of use cases for the technology in the U.S.
July 13, 2017
Risk Management
Technology
Minnesota Fines American Family, Farmers Subsidiary Over Third-Party Claims Handling
Just because a carrier cant get a hold of their at-fault policyholder or hasnt received word of the crash from them doesnt excuse them from having to pay third-party claims, the state of Minnesota reminded insurers and residents last month.
July 11, 2017
Auto
Risk Management
Minnesota
Auto Claims: Future May Belong To Bots
Despite a decade of prominence, the Age of the App may be over. The future of auto claims could belong to the chatbots. Equipped with AI and machine learning capabilities, these computer software programs can conduct natural language-like conversations with customers in real time.
July 10, 2017
Auto
Risk Management
Technology



