Claims Innovation a Top Strategic Priority for Insurers Worldwide
Claims can make or break an insurance company’s reputation. If claims management, service, or outcomes consistently fall short of customer expectations, insurers will face an uphill struggle with regards to client retention and acquisition.
June 30, 2021
Technology
3 Ways AI Can Boost Customer Retention
The insurance industry has steadily been digitizing in recent years. It is taking advantage of technological developments in automation, offering apps to clients and introducing things like electronic proof of auto insurance.
June 29, 2021
Technology
From Risk Transfer to Risk Prevention
Recent developments in technology and the corresponding availability of data can improve risk prevention. A key driver is the Internet of Things (IoT), the growing network of connected devices ranging from consumer wearables to industrial control systems.
June 25, 2021
Risk Management
Technology
Are Startup Auto Insurers Chasing Ghosts?
There has been a noticeable buzz around some startup auto insurers that are leveraging big data and AI to more accurately price risk in the personal auto market.
June 23, 2021
Auto
Technology
RiskStream Proves Need for Blockchain in Sharing Death Data for Life Insurance
The Institutes RiskStream Collaborative ran a study to prove whether its Mortality Monitor is a viable insurance blockchain use case. The purpose is for insurers to share their information about a policyholder’s death with other insurers.
June 16, 2021
Life & Health
Technology
Hurricane Season Expected to be Above Average, But Forecast Models Are Improving
During the record 2020 Atlantic hurricane season, something happened that many people overlooked -- hurricane forecasts improved. And that saved lives.<br /><br />
June 14, 2021
Catastrophe
Technology
After the Pandemic: Positive Takeaways and a Look at the Claims of Tomorrow
We were knocked down, but we got back up. When COVID-19 caught the world—including the construction and insurance industries—off balance in early 2020, no person or industry was spared from the direct impacts.
June 10, 2021
Catastrophe
Technology
Wilbur and BAIS Team Up to Improve Insurance and Claims Solutions
Australian insurtech providers Wilbur and BAIS have formed a partnership to provide improved end-to-end policy and claims solutions to the insurance industry nationwide and globally.
June 4, 2021
Technology
Key to Transformation for Auto Claims
The word ‘transformation’ is overused, and yet here in the auto insurance claims industry there is no better word for a process that is being changed so dramatically from beginning to end, and at every step in between.
June 4, 2021
Auto
Technology
Don’t Look Now, but Here Come Autonomous Trucks
While the focus for years has been on autonomous cars and on what they’ll do for safety, for auto insurance, for our lifestyles and more, a disruption is taking shape in the nearer term: autonomous trucks.
June 1, 2021
Auto
Technology
The Finish Line Keeps Moving
Much has been written, and much has been done in the past decade regarding the customer experience in P&C. Progress has been made in understanding customer needs and journeys, implementing digital solutions for mobile and self-service capabilities and improving interactions with agents and policyholders.
June 1, 2021
Technology
Disturbing, Viral Twitter Thread Reveals How AI-powered Insurance Can Go Wrong
Lemonade, the fast-growing, machine learning-powered insurance app, put out a real lemon of a Twitter thread on Monday with a proud declaration that its AI analyzes videos of customers when determining if their claims are fraudulent.
May 28, 2021
Technology
Fight Insurance Fraud With Cryptography
Be honest — Does the term ‘cryptography’ make your eyes cross? The science of secret codes may be more associated with spycraft than actuarial science, but the advanced branch of mathematics has never been more relevant to insurers.
May 25, 2021
Technology
Top Risk Concerns for 2021
Financial institutions and their directors have to navigate a rapidly changing world, marked by new and emerging risks driven by cyber exposures based on the sector’s reliance on technology, a growing burden of compliance and the turbulence of Covid-19.
May 25, 2021
Liability
Litigation
Technology
How Automation Can Boost Human Connection During Claims
As many insurance companies know, a slow claim is the fastest way to strain the relationship between the carrier, the agent and the insured. With rising customer service expectations across the industry, policyholders are equating faster, more personalized claims experiences with premier carriers.
May 24, 2021
Technology
