A committee of the Citizens Property Insurance Corp. governing body produced some good news on litigated claims and some bad news Thursday, giving further insight into a big part of Florida’s insurance market. The bad news first: The number of …
Lemonade, a five-year-old insurer that went public last year, generated an online uproar with a Twitter post that boasted about its AI-based fraud-detection skills, forcing the carrier to walk back its comments. Lemonade on Wednesday deleted a tweet that said …
Startup Offering Free Climate Risk Checkups ClimateCheck, a San Francisco startup, is offering consumers free reports that assess the vulnerability of individual properties to climate-related risks such as wildfires and flooding. The company said in a press release that ClimateCheck …
Fraud inevitably rises after natural disasters and during economic downturns. The COVID-19 pandemic has brought both conditions to the entire globe at once. Fraud-prevention advocates have long been warning about the coming increase in fraudulent claims. Data from Friss, a …
FRISS Appoints Product Development Leader FRISS, an international provider of risk analytics services to property and casualty insurers, has appointed Dan Gumpright as global vice president of products. Gumpright will drive the company’s development teams to strengthen fraud indicators and …
CLM Launches Universal Claim Certification The CLM, formerly known as the Claims and Litigation Management Alliance, has launched a universal claims certification that allows claims adjusters to secure licenses in six states. CLM said licensed adjusters must simply register for …
FM Global Expands Research Lab FM Global, an international commercial property insurer, had opened a electrical hazards and gas detection laboratory on its research campus in West Glocester, Rhode Island. The carrier said in a press release that the facility …
Once thought of as highly traditional and reluctant to change, insurers today are rethinking everything. The rise of digital-first carriers, with an ethos borrowed from their ecommerce and ebanking cousins, has generated an intense interest from incumbent carriers to focus …
Insurance fraud is rising and more insurers are responding forcefully by automating investigations with skilled technology, according to a study of insurer technology usage by the Coalition Against Insurance Fraud. More than 60 percent of insurers say fraud has climbed …
Claims adjusters working on the job have something unique they can add to their toolkit: a way to root out soft or opportunistic fraud as it happens for home contents claims. Enservio, Inc. introduced a new option for its ContentsExpress …