Earlier this year, claims leaders participated in a nationwide survey about some of their most pressing daily operational challenges. Their confidential survey results – with perspectives from manager, director and executive-level claims professionals – have now been published in the …
ISO has launched the ISO Risk Analyzer Homeowners Building Characteristics Module, the latest addition to its line of predictive analytic modeling tools to help insurers more precisely segment and rate their risks. The building characteristics module incorporates property-specific features, including …
A new survey of U.S. and Canadian insurers reveals that one in three insurers does not feel adequately protected against fraud, according to FICO, a predictive analytics and decision management software company. The survey, which focused on insurance claims fraud, …
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 …
This is part two in a three part series on outsourcing claims handling. Just as insurers reduced their ranks of company field adjusters who were replaced by in-house or independent adjusters only to be embraced yet again, claims outsourcing is …
Snapshot: Case Study # 1 Looking to enhance its claims capabilities, a leading auto insurance company decided to adopt Big Data analytics to streamline its subrogation process. Although subrogation is unarguably regarded as the quickest path to payback, it is …
The insurance industry must be prepared for future market challenges, the quickening pace of customer-driven commerce and the continuing spread of the digital economy, says Ovum. According to the independent global analysts, insurers can improve their competitive position by implementing …
“The intentional and unintentional inefficiencies in the claims process” is how David Tweedy, managing consultant with Albert Risk Management Consultants, defines claims leakage. “People need to pay attention to the small overpayments that in and of themselves mean nothing, but …