Computer Vision Means Satisfied Customers
Giving the customer what they want -- or need, depending on whom you’re quoting -- is a basic tenet of business. And perhaps the one thing all customers want -- and need -- is a good experience with the company they are working with. It’s a truth that the insurance industry needs to understand.
November 2, 2022
Technology
Claims Management System Buyer’s Guide
Modern property and casualty claims system capabilities have evolved from legacy technology that simply tracks financials, claim notes, and documents, to fully data-driven processing engines that can connect to an array of ecosystem partners. Insurers now have faster access to new features and functions as solution providers migrate to cloud/Software-as-a-Service (SaaS) solutions.
October 27, 2022
Fraud
Subrogation
Technology
Blockchain Vocab Every Insurance Professional Will Want to Know
Blockchain technology is beginning to modify insurance operations, helping the industry to overcome some of its challenges. The use of different blockchain technologies within business, including in the insurance industry, varies according to its inception.
October 26, 2022
Insurance Industry
Technology
Hype, Boom, Bust and Recovery: How Blockchain May Yet Prove Its Worth to Insurers
As the world economy and the insurance industry struggle to recover from the COVID-19 pandemic, associated lockdowns and constrained economic activity, blockchain technology has been in the news a lot.
October 25, 2022
Technology
More Fatal Crashes Linked to Tesla’s Automated Technology
The National Highway Safety Administration released new data indicating that 10 people were killed in the United States in crashes involving vehicles that were using automated driving systems. The crashes all took place during a four-month period earlier this year between mid-May and September of this year.
October 20, 2022
Auto
Liability
Technology
Cellphone Data Analysis in Personal Injury Litigation
Ninety-seven percent of Americans now own a cellphone, and 85% of those own a smartphone, a mobile device that does a lot more than just make and receive calls. In fact, a smartphone can track every aspect of a person’s life, including sleep; eating and health trends; location and movement; and social and financial alerts.
October 19, 2022
Liability
Litigation
Technology
Misunderstood: Partially Automated Vehicles Are Not Self-driving
Drivers who use partial automation on a regular basis often treat their vehicles as fully self-driving despite widespread warnings and numerous high-profile crash reports, a new study from the Insurance Institute for Highway Safety shows.
October 11, 2022
Auto
Technology
In Search of Standards for Totaled Auto Claims Software
Basit Mian sued Progressive County Mutual Insurance, J.D. Power & Company, and Mitchell International Company, Inc., in a Texas Federal District Court, charging that Progressive’s use of a computer program called Work Center Total Loss (WCTL) undervalued his totaled vehicle by $2,073.24.
October 4, 2022
Auto
Technology
The Cloud: Connecting the Insurance Ecosystem
Cloud-based platforms will let auto insurers make a critical pivot away from purely reactive claims response and processing to claims minimization and avoidance.
September 30, 2022
Insurance Industry
Technology
Hackers Testing Data Destruction to Make Ransomware Attacks More Effective
Ransomware hackers are experimenting with a new kind of attack that, instead of encrypting data, outright destroys it. The aim is to make it impossible for victims to retrieve their data if they don’t pay the ransom.
September 28, 2022
Excess & Surplus Lines
Fraud
Technology
How AI Is Changing The Game In Insurance
The insurance industry is one of the largest in the world and has been around for hundreds of years, making it ripe for transformation by newcomers in the space. Over the past five to ten years, technology has pushed the frontier of what’s possible, making way for a new breed of digital-first insurance companies to come to life.
September 28, 2022
Insurance Industry
Technology
The Doctor Is In Your Device
Star Trek was ahead of its time in many ways, and not just because the sci-fi franchise portrayed a future several centuries after the series first aired in the 1960s. The cult classic TV show/films imagined what life might be like in the 23rd century, when humankind could be hurtling on spaceships through unknown universes. Much of the show was fantasy, of course, but the series has been heralded for foreshadowing the future.
September 27, 2022
Life & Health
Technology
The Insurance of Insurers
What is the impact of artificial intelligence in insurance? Well, there are a lot of use cases for artificial intelligence in everyday life, but what about AI in insurance? The effects of artificial intelligence in business heavily include insurance.
September 23, 2022
Technology
Underwriting
What Adjusters Need To Know at the Peak of Hurricane Season
Recently, I hosted a training for inside adjusters, and the group consisted of around 20 seasoned claims professionals with an average tenure exceeding seven years. Most of these inside adjusters had spent at least a couple of years in the field, as well.
September 22, 2022
Education & Training
Technology
The Internet Of The Sky: Space, Remote Sensing, ESG, And Cybersecurity
Sustainability is driving the confluence of the environmental, social, and governance (ESG) pillar landscape; cybersecurity; and satellite remote sensing data. Business moves faster than weather data flows, and delays in accessing current data create a broken value chain.
September 19, 2022
Technology
