Claims News Recap
August 27th - August 31st
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Friday, August 31st, 2018
Canadian insurers wanting to handle claims like Lemonade are going to have to accept some trade-offs, a Claims Summit speaker said Tuesday. New York City-based Lemonade Insurance Company uses artificial intelligence and says it can handle some claims in three seconds. Lemonade claimed earlier that it set a world record when a customer who submitted a claim electronically — for a $979 parka — had the claim closed within three seconds....
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Thursday, August 30th, 2018
Conditions were already grave in the village of Coon Valley after torrential rains totaling anywhere from 8-13 inches blocked all access roads in and out of the community preventing outside emergency assistance from getting to people in need of help in the Vernon County community of 700. Bill and LouAnn Wolff have lived on the Southside of Central Avenue for 26 years. They stood in disbelief for hours Tuesday morning in front of their home, trying to determine whether it was safe to enter....
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Wednesday, August 29th, 2018
Tuesday afternoon’s storms resulted in more damage in some areas still cleaning up from storms over the past week. The National Weather Service will be sending survey teams to assess the damages to confirm multiple sightings of tornadoes. Fond du Lac County Executive Allen Buechel declared a state of emergency, the county announced Tuesday night....
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Tuesday, August 28th, 2018
Some insurers are considering how artificial intelligence could help underwrite marine risks. Although big data has been around for years, “what has changed with AI is just using bigger more disparate data sets which go across different domains — for example using social media, using weather data, using all kinds of other data,” said Aditya Kaul, lead analyst for research firm Tractica, in a recent interview....
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Monday, August 27th, 2018
Since the 1980s, the Catholic Church in the United States and its insurance companies have paid out more than $3.8 billion in lawsuits and claims involving allegations of clerical sexual abuse, according to a monitoring group. BishopAccountability, a non-profit that tracks allegations of abuse in the Catholic Church, says the payouts involved cases filed by more than 8,600 survivors...
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