The New Mandate: ‘Video Or Vanish’
In today’s world, a brand’s ability to personalize the customer experience is more critical than ever, perhaps nowhere so much as in the insurance industry.
December 20, 2021
Technology
The Matrix And The Reality Of Insurance
1 hour, 31 minutes and 39 seconds into The Matrix, something remarkable happens. We glimpse a skyscraper, at the top of which is the single word, ’Norwich’, and what looks suspiciously like the Norwich Union logo. 15 minutes and 9 seconds later, it’s a different skyscraper, but this one has ’Aon’. This tells us everything we need to know about The Matrix.
December 15, 2021
Technology
Weird
A Wake-Up Call On Claims
Digitizing the claims process has been one of the shining examples of innovation in insurance — or so it seemed. But J.D. Power threw some cold water on that notion in a report released last week.
December 15, 2021
Technology
Can Virtual Reality Really Help Injured Workers With Pain, PTSD And Other Conditions?
For Tyler Wright, sheriff’s deputy with Florida Law Enforcement, the anxiety and flashbacks that came with PTSD were becoming unbearable.
December 1, 2021
Technology
Workers' Compensation
Buckle Up For Telematics 2.0
For as much coverage and discussion as telematics has received over the past two decades, its impact on the auto insurance economy, including transportation, is going to be even greater and further reaching than many may have thought – it will be transformative in the fullest sense of the word.
November 30, 2021
Auto
Technology
Claims Development Analysis Process In Need Of A Refresh? Machine Learning Can Help
Machine learning techniques can turn the critical task of identifying changing patterns of claims development and make it a more rewarding activity for both those doing the searching and those who use the information to make decisions.
November 18, 2021
Technology
Cyber Insurance Claims Spike With Major Attacks, But Ransomware Costs Down Sharply From 2020
While ransomware remains a plague on organizations around the world, a new report from commercial insurance firm Corvus indicates that ransomware costs are being cut considerably due to better preparedness.
November 18, 2021
Technology
Touchless Auto Claims: One Year On
Just a bit more than a year ago, a driver made a phone call to their insurance company — and made history. How? Well, the insurance claim that followed was the first-ever completely touchless claim — in that it was entirely carried out by a trained artificial intelligence (AI).
November 16, 2021
Auto
Technology
The Importance Of Explainable AI
Explainable AI is evolving to give meaning to artificial intelligence and machine learning in insurance. The XAI (explainable AI) model has the key factors, which are explained in the passed and not passed cases.
November 12, 2021
Technology
Leveraging Technology To Navigate The Future
The evolving risk landscape suggests that global insurance premiums could reach USD 10 trillion by 2030, with climate change predicted to result in a tenfold rise in economic losses over the next 30 years, according to a new report from Bain & Company.
November 11, 2021
Technology
How To Reduce Risks For Mobile Workforces
Insurance agents and adjustors are often away from their desks attending to customer needs and inquiries in the field. Typically, property insurance adjustors are some of the first on the scene after a natural disaster or personal property emergency.
November 11, 2021
Risk Management
Technology
How Do You Measure Up?
Insurance carriers have invested in core systems to help streamline their internal claims-handling processes. As a result of improvements in these internal processes, data is more readily available for analysis.
November 10, 2021
Subrogation
Technology
Pandemic Lockdown Speeds Insurance Digitization Growth
The global pandemic accelerated many technological advances that were already underway in the insurance industry, changes that are likely to pick up speed as COVID-19 recedes, according to Rohit Verma, CEO, Crawford & Co.
November 10, 2021
Technology
5 Tips For Finding An RPA Solution
Robotic process automation (RPA) can be used to automate manual, high-volume and repetitive data tasks — especially those where human touch does not add value. Think of all the needlessly manual data entry involved in your underwriting and claims processes.
November 9, 2021
Technology
CCC Launches Touchless, Straight-Through Processing Product For Auto Claims
CCC Intelligent Solutions has launched a photo-based estimating service that uses artificial intelligence (AI) and ‘insurer-driven’ rules to generate what it calls ‘detailed and actionable’ line-level repair estimates in a matter of seconds.
November 5, 2021
Auto
Technology
