It’s Groundhog Day For WC Claims Handling
Why have attempted fixes via legislation and technology failed to fulfill promises for decades, for almost a generation of workers?
March 20, 2019
Fraud
Legislation & Regulation
Technology
Workers' Compensation
AI-Generated Artwork Raises Intriguing Insurance Questions
Christie’s recently held the first-ever auction of artwork created by artificial intelligence (AI). The AI-generated piece, which involved some minimal human intervention by Paris-based art collective Obvious, shocked the art world by selling for $432,500, more than 40 times the official estimates.
March 18, 2019
Excess & Surplus Lines
Risk Management
Technology
The Revolution Is Finally Here
We are finally beginning to experience a long-awaited revolution in the insurance industry. Historically, insurance has been one of the last and slowest industries to embrace technology as a means of modernization and process innovation.
March 15, 2019
Life & Health
Technology
AI Researchers Are Pushing Bias Out Of Algorithms
Artificial intelligence is getting a bad rap. People of color and women are said to be disadvantaged by the technology underlying bail recommendations, facial recognition, self-driving cars and online advertising. Some critics argue that AI can also worsen health disparities based on income and race. These examples raise the specter of a world governed by racist, sexist and plutocratic algorithms.
March 12, 2019
Technology
5G Will Transform P&C, Car Repair
Today’s technology news is dominated by articles about the promise of 5G—it was one of the top stories coming out of this year’s Consumer Electronics Show. 5G, so named because it’s the generation following today’s 4G, could bring mobile phones information 600 times faster than today’s speeds.
March 11, 2019
Auto
Liability
Life & Health
Property
Technology
AI For WC Claims: Humble Pie In The Sky
Let’s slice pie from the sky and seriously consider AI’s role in Workers’ Compensation claims. First, admit that an end-to-end AI solution is impossible.
March 11, 2019
Technology
Workers' Compensation
Why Technology-Enhanced Cars Aren’t Necessarily Driving Down Claims … Yet
While Level 5 autonomous vehicles aren’t commonplace yet, the car of today already looks vastly different than the vehicles that were on the roads a decade ago — an evolution that has implications for insureds’ exposures and insurance needs.
March 8, 2019
Auto
Technology
Saving $1.3 Billion A Year On Claims Administration
Artificial intelligence will become a “big time saver” for claims adjusters and will eventually allow the industry to save billions a year in costs, one researcher says.
March 7, 2019
Risk Management
Technology
Uber Not Criminally Liable In Fatal 2018 Arizona Self-Driving Crash: Prosecutors
Uber Technologies Inc is not criminally liable in a March 2018 crash in Tempe, Arizona, in which one of the company’s self-driving cars struck and killed a pedestrian, prosecutors said on Tuesday.
March 6, 2019
Auto
Liability
Technology
Arizona
QBE Pours Cash Into Technology In Battle With Climate Change
QBE is taking a stand. It is loudly and proudly talking about the dangers of climate change and what needs to be done to stop it—including putting its own money on the line.
March 5, 2019
Catastrophe
Risk Management
Technology
Coverage Fast, Easy And Cheap: That’s Not Enough
Recently, I read a blurb that featured an “experiment” by SafeButler, an online premium comparison web site. The purpose of the experiment was to see how fast someone could get a renter’s insurance policy. They tested 10 online sources for coverage on a “luxury apartment.”
March 4, 2019
Property
Risk Management
Technology
U.S. Safety Agencies To Investigate Fatal Tesla Crash In Florida
The National Highway Traffic Safety Administration (NHTSA) and the National Transportation Safety Board (NTSB) said they are sending teams to investigate a fatal crash in Florida on Friday involving a Tesla Inc car and a semi-trailer.
March 4, 2019
Auto
Liability
Technology
Florida
Driving Forces Navigating Advancements In The Collision Repair Landscape
Both insurers and collision repairers are facing new challenges in the age of technological advancements. Designed with more than just transportation in mind, vehicles are equipped with new technology that keeps consumers safe and comfortable.
February 26, 2019
Auto
Technology
Claims Technology: One Size Won’t Fit All
As I watch the insurtech space, I see a fair bit of hype around disruptive technology. Some of what I see reminds me of the dotcom boom of the late 1990s. Then, as now, lots of startups promise to deliver something ground-breaking, and all are competing in the same space, with many of the same ideas.
February 22, 2019
Risk Management
Technology
Nationwide Insurance More Than Doubles Number Of Layoffs In Des Moines
Nationwide Insurance issued 191 layoff notices to Des Moines workers this month — more than double the number previously announced by the company.
February 21, 2019
Risk Management
Technology
