Claims News Recap
October 22nd - October 26th
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Friday, October 26th, 2018
It seems that with every advancement in technology a new threat vector is born. This theory holds true as we begin to embrace the world of cryptocurrency. Cryptocurrencies have emerged as an alternative means for financial transactions, while the value of a single Bitcoin cryptocurrency rose to $20,000 in late 2017....
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Thursday, October 25th, 2018
Injury rates have more than doubled at five West Virginia coal mines acquired by Murray Energy Corp. in 2013, according to a Reuters review of federal data, as the firm sharply increased the amount of coal produced per manhour. Although injuries and productivity rates rose over the same period, the causes of the increase in injuries remain unknown and could include a host of factors in the complex business of underground coal mining....
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Wednesday, October 24th, 2018
Hurricane Michael has resulted in almost $1 billion of insurance claims already, based on data filed by insurers and collected by local regulator the Florida Office of Insurance Regulation (FLOIR). As of Friday 19th October the number of claims filed and reported to the FLOIR had reached almost 85,500, from which the regulator estimates insured losses as currently just below $950 million....
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Tuesday, October 23rd, 2018
In the wake of a major American insurer’s TV ad that pokes fun at AI-powered insurance, a celebrity has stepped in to share a piece of his mind on the issue. State Farm Insurance had recently rolled out a new commercial, entitled RoboAgent. The 45-second commercial depicts basketball stars James Harden and Chris Paul of the Houston Rockets filing a claim for a damaged car through a State Farm agent....
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Monday, October 22nd, 2018
Automation is transforming claims processing in myriad ways. Damage appraisals that are completed in only a few hours are becoming the norm―shaving days off cycle time and making the claims process easier than ever before. Insurance customers are getting comfortable with snapping a few photos of their damaged vehicle and sending them to their insurer via a simple mobile claim app....
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