data analytics News

Viewpoint: Becoming a Data-Informed Organization

We hear a lot of talk these days about the virtues of data-driven organizations. That’s certainly reasonable up to a point — but what does it really mean? When it comes to routine operational decisions, in particular, the current bias …

Claims People: IAT, CoreLogic and MedRisk

IAT Appoints Senior VP for Claims IAT Insurance Group has appointed Heidi Bendick as senior vice president of claims operations. “Heidi has a winning mix of technical knowledge, industry experience and people skills,” stated Chief Claims Officer Trent Haas in …

CoStar Drops Bid to Purchase CoreLogic, Blaming Rising Rates

CoStar Group Inc. has withdrawn its bid to buy the real estate data firm CoreLogic Inc, according to a statement on Thursday. CoreLogic, the subject of a bidding war in recent weeks, had said earlier that CoStar’s sweetened offer for …

Viewpoint: Why Physician Scoring Is a Win for Insurers, Employers, Workers – and Physicians

We live in a society ruled by rankings. Websites are devoted to them; YouTube careers have been built based upon them. Which players we select for fantasy teams, where our kids go to college, who can be trusted for a …

For Large Companies, Odds Are Even For a Cyberattack This Year

For the the top 250 U.S. firms in terms of revenue, the chance of a data breach in any given year is about the same as the chance a coin will turn up heads when flipped, according to an analysis …

Technology’s Promise and Drawbacks Among Top Claims Stories for 2019

Technology — both its promise and its alleged abuse — was a key component of the most important news stories for claims professionals in 2019. Several insurers introduced new technical innovations to their claims processes during the year. At the …

Industry Appointments: Honk, QBE, Insurity, Berkley One

Honk Appoints Executive VP Honk Technologies, a platform that connects drivers with towing professionals and insurers, announced the appointment of Rochelle Thielen to the nearly created role of executive vice president for partnerships. Thielen is an automotive industry expert with …

How Data & Analytics Are Helping Insurers With Flood-Damaged Vehicles After Florence

Initial estimates of the damage caused by Hurricane Florence are expected to total approximately $20 billion, as residents of the Carolinas and Virginia are faced with cleanup and recovery. The Carolinas experienced historic flood levels, according to Moody’s Analytics. Mark …

White Paper Offers Alternative Approach to Handling Workers’ Comp MSAs

A newly released white paper suggests workers’ compensation payers forgo Medicare Set Aside (MSA) voluntary reporting. Conventional Set Aside practices, according to Care Bridge International, can greatly inflate costs to claims payers to the tune of almost double the cost …

Four Ways that AI Enables Insurers to Differentiate

Insurance companies are generating more data than ever before, and the value of that data is rapidly increasing as new products are able to properly analyze and make use of it. Beyond traditional analytics, one way that data can deliver …