What Insurer Data Practices Mean for Risk Professionals
The way insurers collect, analyze and use data is impacting every part of the commercial insurance value chain, from businesses to brokers to insurers.
November 19, 2020
Risk Management
Technology
Blockchain, Its Insurance Applications And Their Role In Building Resilience
The global COVID-19 pandemic has caused tremendous damage, claiming millions of lives while wreaking havoc on the global economy. While companies have adopted more technology solutions to combat business disruptions, their overall financial resilience remains particularly vulnerable.
November 19, 2020
Technology
Building Diversity And Combating Systemic Racism
Increasing employee diversity can benefit not just the public perception of an insurer and the pride of its workforce—it can also help expand its customer base. By creating a safe space and sense of belonging for diverse employees to express their views, companies can create innovative products and solutions that can meet the needs of underserved markets.
November 19, 2020
Technology
USAA’s Maria Cantu Pushes For ’Excellence At 100’
Maria Cantu, VP of property claims for USAA, is not one to settle for the status quo. In fact, she’s always pushing to innovate in ways that increase empathy in customer service, say her colleagues.
November 19, 2020
Technology
4 Initiatives That Unlock IoT’s Value
The insurance industry excels at tactics. If one is an underwriter, a claims person or contact center manager, and a problem is detected, it’s all hands on deck to solve that problem. What tactics could wrestle that problem to the ground? That’s generally the direction the industry is most comfortable with because we are a pragmatic group by nature.
November 18, 2020
Technology
Auto Insurance Becomes The Latest Focus Of GM’s OnStar Division
The auto insurance industry has new contender as of Wednesday. General Motors has launched OnStar Insurance, which aims to create a fairer way to insure drivers.
November 18, 2020
Auto
Technology
The Workers’ Comp Claim Process Went Virtual Long Before COVID
I was on a panel yesterday as part of the National Workers’ Compensation Defense Network (NWCDN) Annual Conference. We were discussing life now and in the future in the “virtual world.” At one point the topic turned to the challenges of claims management in a virtual environment.
November 16, 2020
Technology
Workers' Compensation
Re-Engineering Claims Payments
Since COVID-19 made its way into the U.S., insurers have been hyper-focused on customer retention. But priorities have shifted since the beginning of the year.
November 12, 2020
Technology
The Evolution Of Telematics Programs
Thirteen years after Progressive launched Snapshot, its usage-based insurance (UBI) rewards program, telematics-based policies represent a modest part of personal and commercial lines insurance. Bullish estimates of double-digit adoption by 2020 haven’t materialized, but it’s clear that telematics-based products appeal to a need within the market.
November 5, 2020
Technology
Transforming The Claims Space
Fundamentally, paying claims is what insurers do. For P&C insurers, for instance, claims typically amount to 60% 80% of costs.
November 4, 2020
Technology
Property Claims: It’s Time For Innovation
The personal and commercial property claims process has traditionally lagged well behind other segments of P&C insurance in the adoption of technology and innovation.
November 3, 2020
Property
Technology
After COVID, Policyholders May Expect Greater Involvement In The Claims Process
The COVID-19 pandemic has permanently changed the way property insurance clients want their claims handled, a technology vendor suggests.
November 3, 2020
Technology
Innovation Is Easy… If You Can Listen
I’m convinced that when attempting to innovate, working with small teams is the way to get it done. I’m going to lay out a quick tactical map on how anyone can try this quickly.
November 2, 2020
Technology
New AI Model Helps CCMSI Seal The Cracks In The Claims Cycle
CCMSI, a large boutique third party administrator (TPA), has been providing innovative risk management solutions to thousands of companies for more than 40 years.
October 27, 2020
Liability
Technology
Workers' Compensation
AI Ends Guesswork In Uncertain Times
It’s been a tumultuous year. In just the span of a few weeks, COVID-19 emerged unexpectedly and abruptly altered almost every corner of the commercial insurance space. Stock market and GDP forecasts have whipsawed as economists and investors have tried to make sense of frequently shifting news.
October 23, 2020
Technology
