Solving Claims-Intake Overload For Smaller Insurance Carriers

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. This trend has worsened over time. As anyone watching the news would know, the frequency and financial toll of major weather-related disasters is rising. Additionally, hurricanes are getting deadlier and costlier because the coastal population has surged. Sandy, which wasn’t even a hurricane when it made landfall, was the fourth most expensive storm since 1980 largely because it hit densely populated, low-lying metropolitan New York.