The insurance industry is at a pivotal moment in embracing generative AI. According to the ISG Pulse Check State of the European Insurance Industry 2024, insurance firms are actively engaged in generative AI transformations and currently comprise nearly a quarter …
Catastrophic workers’ compensation claims present a complex web of medical, legal and financial challenges. Professionals need a roadmap for navigating the intricate journey from initial injury through long-term care and potential settlement, with key strategies to improve outcomes in these …
We are still years away from full implementation of true self-driving cars in the U.S., but each step we take dramatically complicates and changes the face of auto claims handling, vehicle repairs, and subrogation litigation. When catastrophic claims are paid …
Hurricane-induced damage to properties is a significant concern for residential and commercial structures alike, particularly for heating, ventilation and air conditioning systems. HVAC systems are essential for maintaining indoor air quality and comfort, and their damage can lead to substantial …
In recent years, cities worldwide have faced an alarming increase in the frequency and severity of flood events. These catastrophes have left urban areas grappling with extensive damage to infrastructure, buildings and equipment. As communities strive to recover from flood …
Let’s take a look at catastrophe-related perils that could impact any business in a post-pandemic and/or stabilized economy—specifically, ingress/egress limitations and power outages. Ingress and egress are terms to reference the act of entering and leaving a location. In the …
Recently, a local television newscast ran a short report on the current high price of auto insurance. After recording one or two predictable complaints from the general public, the reporter ascribed the high prices to the high cost of “labor …
Cyber risk is manageable. But only if everyone involved in managing that risk is on the same page. Typically, when new cyber threats are detected or announced, cyber insurers notify their policyholders and encourage them to swiftly remediate potential risks. …
Read the first part in this series, The Problem(s) With Hail Claims, Part 1: A Cautionary Tale for Insureds and Insurers, and the second part in this series, The Problem(s) With Hail Claims – Part 2. My previous two columns …
Imagine a world where insurance claims are processed instantly with accuracy and minimal manual intervention. Yes, that is the promise current artificial intelligence revolution has made in claims processing. But as with any modern technology revolution, there are challenges, and …