analytics News

Fitch: Technology Needed to Reverse Commercial Auto’s Dismal Performance

The commercial auto line hasn’t returned an underwriting profit for eight years now. Growing claim severity is a big part of the problem. Advanced technology needs to be a part of the solution, according to a report released Tuesday by …

Arturo Teams with Hippo for ‘Real-Time’ Property Info

What began as an assignment to the research and development team at American Family Insurance Co. now stands alone as an independent company and today announced its first major customer. Arturo, a Chicago-based insurtech startup launched by American Family three …

Transforming Claims for the Digital Era

As insurers undertake digital transformation programs, many rightfully turn to the claims function. Claims is a very good candidate for such initiatives because of its importance to the relationship between customers and their insurers. Claimants and insurers both want speedy …

Insurers Could See 25% Decrease in Claims Severity by Utilizing Data Early

A recently released LexisNexis Risk Solutions’ study found that carriers that incorporate real time data analytics into the claims process at first notice of loss can more accurately and consistently triage claims, identify potentially fraudulent files and capitalize on subrogation …

Insurer Tech Survey Finds Predictive Modeling and Big Data Important to Claims

Xchanging, a technology services provider, has released a new survey, “The 2014 Insurance Technology and Spending Trends Report.” The survey, conducted at the Acord Loma Forum in May 2014 encompasses responses from 75 insurance industry practitioners. The majority of survey …

Mitchell Hosts Claims Management Webinar

Mitchell is hosting a free claims management webinar today at 11:00 AM – 12:00 PM PST. While the concept of benchmarking is a familiar one, the addition of analytics provides a new way to analyze multiple components of importance to …

Part 1: Top 4 Current Trends in Solving the Roof Risk Problem

Everyone is talking about the roof risk problem. It is the hot topic among both insurance and reinsurance carriers, as well as vendors. BuildFax conducted interviews with industry experts ─ from the C-suite to actuaries, underwriters to adjusters, to inspectors …

Mitchell Announces New Collision Analytics Program

Mitchell, a provider of technology, connectivity and information solutions to the property/ casualty claims and collision repair industries, announced the initial results of a new data analysis program specifically focused on understanding the vehicle and collision factors that impact injury …

Rising Medical Solutions New Analytics Targets Opioid Abuse

New technology has just been released that provides early detection of questionable drug usage behavior to reduce payer costs and improve employee health outcomes. Rising Medical Solutions’ Rx Intelligence technology targets the workers’ compensation industry’s opioid epidemic. Claims with long-acting …