The Future Of Claims Is Touchless
Touchless claims aren’t just the future of the insurance industry -- they’re the present. Customers today have shifted from being familiar with doing business online to largely preferring it in many cases, and that ripple effect has been felt and registered by insurance companies globally.
February 23, 2023
Auto
Technology
Tesla Remains In NHTSA’s Focus After Another Deadly Crash
The National Highway Traffic Safety Administration (NHTSA) requested additional information from Tesla following a California crash on Saturday in which one of its vehicles collided with a fire truck parked at an accident scene.
February 21, 2023
Auto
Technology
California
Trends in Class-Action Litigation
On Oct. 12, 2022, the Illinois Biometric Information Privacy Act (BIPA), a state law that restricts collection of biometric data, made headlines again when a Chicago jury rendered a $228 million judgment against BNSF Railway Co. in the first BIPA class action to go to trial.
February 20, 2023
Liability
Litigation
Technology
AI Has Finally Entered The Building
AI’s capabilities have surged so much that it has the potential in 2023 to dramatically raise the quality of claims handling and underwriting in workers’ compensation.
February 20, 2023
Technology
Underwriting
Workers' Compensation
The Rise Of AI: A Double-Edged Sword
Today’s insurers use big data from myriad sources to underwrite more accurately, price risk and create incentives for risk reduction. From telematics that tracks driving behavior to social media that creates a digital footprint that could offer unprecedented insights, new sources of data are now capable of producing highly individualized profiles of customer risk.
February 14, 2023
Technology
6 Tech Hurdles To Customer Friendliness
In the full realm of digital retail, where even groceries can be ordered and delivered online, Trader Joe’s stands out as a unique business. There is no web ordering, no shipping, no delivery and no plans to change to be like other grocery stores.
February 13, 2023
Insurance Industry
Technology
AI Wildfire Detection Bill Gets Initial Approval In Colorado
A year after the most destructive wildfire in the state’s history scorched nearly 1,100 homes, Colorado lawmakers are considering joining other Western states by adopting artificial intelligence in the hopes of detecting blazes before they burn out of control.
January 27, 2023
Legislation & Regulation
Technology
Colorado
A Moment Of Truth For Tesla
It’s a sign of the times at Tesla that I need to specify which issue is the moment of truth that I refer to in the headline. I’m not talking about the high-profile lawsuit that began last week into whether CEO Elon Musk owes damages to investors who bought stock in 2018 when he tweeted, falsely, that he had "funding secured" to take the company private.
January 24, 2023
Auto
Fraud
Technology
This Is Your Tesla Crash Mega Thread
We’ve been following the spate of Tesla Full Self Driving (FSD) and Autopilot crashes with some interest and more than a little ire.
January 18, 2023
Auto
Technology
An On-Ramp To Digital Auto Claims
The insurance industry has long sought a solution to address the lengthy and costly delay between the time of accidents and the notification of a claim, also known as FNOL (first notice of loss).
January 9, 2023
Auto
Technology
Insurtech Innovation In The Metaverse
The metaverse will offer new forms of immersive entertainment, modes of social interaction, and opportunities for collaboration. It is also expected to generate tremendous economic value.
January 9, 2023
Legislation & Regulation
Technology
Insurance Technology’s Ugly Legacy
Insurance used to be a people business, but the legacy of insurance technology tells a different story. Despite a decade-long focus on digital transformation, those projects don’t seem to have had a profound impact on the insurance ownership gap, which is widening across insurance segments and projected to reach $1.86 trillion by 2025, according to PwC.
December 30, 2022
Technology
How To Stop Claims Leakage
Inefficiency and ineffectiveness in an insurance claims department are a bit like a boat at sea that has a hole in the hull and is taking on water. The skipper is trying to move forward, but the leak keeps slowing it down.
December 28, 2022
Technology
The Great Resignation Is Straining Workers’ Comp And Bodily Injury Claims Teams
Last year, 56% of insurance companies planned to increase their staff within the next 12 months, per an Insurance Information Institute report.
December 21, 2022
Liability
Technology
Workers' Compensation
Outsourcing 2.0 To The Rescue
Outsourcing has moved front and center as the P&C industry transforms to manage today’s new realities, but it has become much more sophisticated.
December 20, 2022
Insurance Industry
Technology
