Auto Insurance Websites Are More Important To Customer Experience Than Agents
The J.D. Power 2020 U.S. Auto Insurance Study released last week revealed that auto insurance websites have become more important to the customer experience than human agents for the first time.
June 17, 2020
Auto
Technology
COVID-19 Has Accelerated Changes In Auto Claims
Auto insurance customers should enjoy a shorter claims journey if pandemic-related changes stick around, insurance pros told Canadian Underwriter recently. Social distancing rules related to the COVID-19 pandemic have forced the insurance industry, along with its customers, to adopt technology for insurance-related services.
June 17, 2020
Auto
Technology
How Is COVID-19 Affecting Claims Handling For Hurricane Damage?
As tropical storms become more likely, COVID-19 is changing the ways resulting insurance claims are handled. New tools and practices can help insurers work within physical distancing guidelines, for example. A survey of claims-related organizations reveals how the sector plans to change its processes for this year’s hurricane season.
June 16, 2020
Catastrophe
Property
Technology
4 Stages To Recovery And ‘Future Of Work’
The insurance industry is experiencing seismic shifts in day-to-day operations stemming from this invisible yet intensely disruptive contagion COVID-19, but early signs of longer-term trends are also starting to emerge. A few short weeks ago, who would have thought that human health/safety and operational resilience would become the top two drivers of digital transformation?
June 12, 2020
Risk Management
Technology
New Cyber Threat Takes Top Spot As Number One Cause Of Loss
The key selling point for cyber insurance has evolved over recent years as cyberattacks have become more prominent. Several years ago, cyber insurance was important because of data breach concerns and protecting organizations’ liability if private data was exposed. Today, the focus is on the potentially huge losses stemming from cybercrime.
June 11, 2020
Excess & Surplus Lines
Technology
Future Is Already Here In Claims
A perfect storm of macro factors has supercharged several trends in the insurance industry, producing almost touchless processes for claims and enabling cycle times of seconds, minutes and hours instead of days and weeks.
June 10, 2020
Auto
Excess & Surplus Lines
Liability
Property
Technology
Go Paperless: How Electronic Payment And Billing Solutions Help Digitize The Claims Process
It is no secret that technology is continuing to disrupt the auto casualty and workers’ compensation industries. Further digitizing the claims process can provide a variety of benefits for payors and claimants alike, including improving the consumer experience, boosting efficiencies, reducing fraud and allowing for adjusters and other claims handlers to focus on what matters most—helping restore claimants’ lives after a challenging event.
June 10, 2020
Liability
Technology
Workers' Compensation
Total Loss Trends Emerge Amidst The Pandemic
Every industry has been impacted by actions taken to control the spread of COVID-19, including the automotive industry. Growing unemployment, coupled with a pivot to remote working, has changed consumer priorities and curtailed car-buying habits.
June 9, 2020
Auto
Salvage
Technology
Virtual Adjusting Steps Into the Spotlight
People across the country are trying to cope with the spread of COVID-19 and the far-reaching ramifications that it is bringing with it. Amidst the pandemic, all kind of industries have turned to the virtual world to cope.
May 26, 2020
Technology
Is Workers’ Comp Ready For Medical And Technological Evolution? It Better Be
The COVID-19 response has poured unprecedented focus and energy into medical innovation. Technology and care methods that seemed years from widespread adoption are becoming new realities.
May 22, 2020
Technology
Workers' Compensation
Algorand Targets Insurance Fraud With New Partnership
Distributed ledger technology (DLT) firm Algorand has partnered with blockchain-based tamper-proof media verification platform Attestiv to target fraud within the insurance industry.
May 21, 2020
Technology
Leading Remote Workers In Insurance
Over the past two months, millions of workers in the United States have re-arranged to work remotely. It’s not a totally alien concept. Before the coronavirus pandemic, approximately over two-thirds of US businesses provided some form of remote work opportunity (at least occasionally) for their employees.
May 20, 2020
Risk Management
Technology
This App Shows Storm Surge Damage Before Flooding Begins
Damage assessments of flood-ravaged communities used to rely on post-disaster surveys. That’s changing. Scientists at one of the nation’s leading climate research consortiums last week released an “augmented reality” smartphone application that simulates how floodwater would inundate specific houses under varying storm surge conditions.
May 15, 2020
Property
Technology
Micro-Censusing: Risk Rating 2.0 And The Future Of Flood Insurance
The ability to micro-census — that is, to gather granular data about individual homes and businesses and use it to inform underwriting — will lead to the biggest changes in flood insurance since the launch of the National Flood Insurance Program (NFIP) in 1968.
May 13, 2020
Legislation & Regulation
Property
Technology
Can An AI Determine Which Potentially Fraudulent Motor Insurance Claims Are Worth Contesting?
Imagine you’re a claims manager for a motor insurer who’s been given 100 potentially fraudulent first notifications of loss to review. The question you’ve been asked is a simple yet stark one: of these 100 cases, how many is the insurance company likely to successfully repudiate and how many will it have to pay?
May 12, 2020
Auto
Technology
