Key Trends In Fraud Fighting Today
The insurance market was set to hit new highs in 2020. Then COVID-19 happened. That forecast – and the global economic outlook – is now far less certain.
July 20, 2020
Fraud
Technology
COVID-19 Quickens The Pace Of Digital Transformation
This year, we have witnessed explosive growth in technology adoption. Zoom video conferencing has risen 574%, Instacart grocery delivery has jumped 450% and Google Classroom usage has increased 580%—all due to COVID-19. The pandemic has truly altered how we think about and use technology.
July 17, 2020
Auto
Technology
How To Recruit Claims Adjusters
If you look at a list of preferred jobs of college graduates, “claims adjuster” might not make the list. Insurance claims operations likely seem foreign to a 21- or 22-year old who probably has never had to file a claim.
July 17, 2020
Technology
Hacking Attacks On Hospitals For Patient Data Increase During Pandemic
On the day before the July 4 holiday weekend, Mount Auburn Hospital’s information technology team identified some unusual activity. Alarmed, they quickly took steps to disconnect the Cambridge hospital’s computer system from the internet.
July 15, 2020
Excess & Surplus Lines
Fraud
Technology
Claims Tech Vendor Faces Possible Hostile Takeover
A hostile takeover of Canadian claims software vendor Symbility’s corporate parent could be in the works. CoreLogic Inc. announced last week its board of directors is rejecting a takeover offer from Senator Investment Group LP and Cannae Holdings Inc., which own about 15% of CoreLogic stock.
July 14, 2020
Risk Management
Technology
How COVID-19 Has Boosted Innovation In Claims
The COVID-19 pandemic has fast-tracked innovation in insurance claim management. Over the past few months, insurance carriers around the world have adjusted to remote working.
July 13, 2020
Technology
Another Reason For Insurers To Embrace AI
Did you know that artificial intelligence (AI) technology first sounded the alarm on COVID-19?
July 9, 2020
Technology
Insurtech In A Pandemic: Creating Opportunities From Threats
Researchers from Cass Business School suggest that Covid-19 will act as a catalyst for the industry-wide adoption of new digital initiatives in the insurance industry. They also suggest that the pandemic has uncovered the value to firms of having a Chief Risk Officer (CRO) to navigate strategy and identify opportunities.
July 7, 2020
Risk Management
Technology
Automation Versus The Human Touch In Claims Management: There’s Got To Be A Balance
Technology and automation are everywhere in workers’ comp. Artificial intelligence (AI) allows insurers to analyze workers’ comp claims and flag ones that could go awry. Apps check in on injured workers.
July 2, 2020
Technology
Workers' Compensation
CCC Says Photo Estimating Booms; LexisNexis Calls 2020 Virtual Claims Tipping Point
CCC last month reported the COVID-19 response has produced a record expansion rate “exceeding double-digit growth” for photo estimates and “AI-supported claims” since Jan. 1. Insurers recently produced their 3 millionth photo estimate since 2018, according to CCC.
June 30, 2020
Auto
Technology
Tech Plays Vital Role In Adjusting Commercial Property Losses
Claims technology plays a vital role in effectively adjusting commercial property losses. Today, remote inspection and estimation capabilities are more important than ever, given the social distancing requirements of the COVID-19 pandemic and the challenges of accessing policyholders’ facilities in the wake of severe weather events and large-scale natural catastrophes.
June 29, 2020
Property
Technology
5 Transformations For A Post-Pandemic World
There’s been a lot of talk about how the coronavirus pandemic may permanently affect aspects of daily life and fundamentally alter entire industries. The future of the insurance industry deserves particular attention, considering its critical ability to help businesses weather times of extreme hardship and uncertainty.
June 25, 2020
Risk Management
Technology
The Future Of Insurtech
Insurtech investment is at an all-time high. In 2019, the insurtech sector hit a record $6.37 billion, according to Willis Tower Watson, up considerably from $4.17 billion the year before.
June 23, 2020
Technology
Insurance Innovation — Alive And Kicking
Insurance innovation is alive and kicking, and gaining traction, as represented by the wide array of submissions for the 2020 Innovation in Insurance Awards, sponsored by Efma and Accenture.
June 19, 2020
Technology
Telemedicine, AI And Predictive Analytics: The Top Tech Applications Impacting Workers’ Comp
In a survey released at the end of April by Mitchell International, half of the responding workers’ compensation professionals reported that cost containment is the driving factor for adopting advanced technologies such as artificial intelligence (AI), predictive analytics, telemedicine, wearables, mobile technology and chatbots.
June 18, 2020
Technology
Workers' Compensation
