It took a global crisis, but Florida litigators and jurists are embracing technology in ways they never have, conducting oral arguments and other court proceedings onlineand many of these COVID-19-induced adjustments could be permanent.
As AI, image quality and cloud-based services improve, the insurance industry is slowly moving closer to an era where many claims may soon be processed without any human touch at all.
Countless articles about the implications of COVID-19 on the insurance industry are circulating in the digital universe. Many aspects of the industry will be affected, but the ultimate impact depends on the length and magnitude of the virus crisis, something that is difficult to predict.
The mounting threat of COVID-19 has placed the healthcare system of many nations under a huge amount of pressure, and cybercriminals could be exploiting this to spread viruses - but instead of biological ones, these are computer viruses.
Virtual medical assessments could play a significant role in keeping the insurance industry moving along during the COVID-19 pandemic. But conducting such procedures will be changing as people are urged to stay home.
No one in the workers compensation industry would argue that complying with state and federal regulations isnt important. Claims professionals need to make sure theyre reporting information about claims to the proper state and federal agencies and they need to make sure their companies are in compliance with workers compensation laws.
Public concerns about the global coronavirus pandemic have inspired a wave of dubious robocalls that seem to exploit consumer fears amid ongoing uncertainty about the COVID-19 crisis, according to YouMail Inc., creator of the YouMail Robocall Index.
As businesses increasingly—and in rapid fashion—urge their employees to stay at home to work amid the coronavirus pandemic, another risk to companies is emerging. Cybersecurity experts warn that cybercriminals are moving in to target people not used to working from home and companies without work-at-home policies or cyber-safety nets.
Zurich has announced a partnership with Carpe Data — a California-based company which offers a claims monitoring system powered by alternative and emerging data — to improve claims processing efficiency and help in the detection of insurance fraud.
As the insurance industry continues down the path toward digital transformation, it is being inundated with data being generated by many different connected devices and systems. Enterprise data is growing so rapidly that analysts at IDC predict the worldwide volume of data will increase ten-fold to 163 zettabytes by 2025.
London-based insurtech AI startup Tractable, which is applying artificial intelligence to speed up accident and disaster recovery by using computer vision to perform visual damage appraisal instead of getting humans to do the job, has closed a $25 million Series C, led by Canadian investment fund Georgian Partners.
The last decade of insurance ushered in an age of data and technology, especially within claims. As we embark on a new decade, the question arises of how the insurance claims process will further evolve continuing the advances of the last decade.