Novarica News

Business News: Coverys, CargoNet, Novarica

Coverys Invests in Patient Engagement, Medical Education Companies Coverys, a medical professional liability insurance provider, announced investment in two separate organizations, Knowledge Diffusion, Inc. (Osmosis) and Pack Health, LLC (Pack Health). Both organizations provide innovative resources that help improve patient …

Claims Changes Driven by Tech, Data

A report released earlier this year by research and advisory firm Novarica highlights how digital opportunities, analytics and the Internet of Things (IoT) are driving changes in claims. Customer service standards set by other industries is contributing to the digital …

People Moves: BSA, North Dakota Insurance Department, Novarica

Brentwood Services Administrators Inc. Hires Vinson as Senior Claims Rep in Raleigh, N.C. Office Brentwood Services Administrators Inc., a company that specializes in structuring and managing alternative market solutions for employers and insurance providers, recently selected Theresa Vinson as a …

People News: QBE, Novarica, MEMIC

QBE North America Appoints Owens to SVP of Operations, Specialty Business Group QBE North America announced that Carla Owens joined the organization as senior vice president, Operations for the Specialty Business Group. Based in New York City, Owens will report …

Commercial Lines Insurers Investing in Tech for Claims, Underwriting Data

Technology investments to support data initiatives are increasingly important as commercial lines insurers look to leverage data from a wider variety of sources. According to a new report released by Novarica, predictive analytics, third-party data and multidimensional data are being …

Top 3 Emerging Technologies That Will Positively Impact Claims

Drones, artificial intelligence (AI) and the Internet of Things (IoT) are considered the top three technologies that will impact claims, according to a new report by Boston-based insurance research firm Strategy Meets Action. The report, The Impact of Emerging Technologies …

Influx of Data Creates Legacy System Conundrum

New data derived from technology innovation is just one of the many reasons insurers are considering the daunting task of implementing new claims systems. A number of recent industry reports indicate that insurance IT spending is expected to increase. Late …

How Wearable Devices Are Disrupting the Insurance Industry

Nearly 50 years after Captain Kirk began using his wrist communicator and hand-held tricorder on the television show Star Trek, wearable technology is taking hold. From Fitbit and Nike Fuelbands to Google Glass and Golden-I, wearables are influencing not only …

Commercial Lines Insurers Investing in Technology in Hyper-Competitive Market

Commercial insurers are continuing to aggressively invest in technology across functional areas in order to survive in a highly competitive marketplace, according to a report released by Novarica. The report, Business and Technology Trends: Commercial Lines, includes data on the …

Novarica Finds Wide Variations in P&C Claims Processes

Property/casualty insurers have made extensive investments in improving their claims systems and processes over the past decade, but capability levels still vary widely between companies with potential impacts to loss results, according to a new survey of more than 90 …