Clyde & Co, a global law firm, has launched a new platform that offers insurance claims teams a suite of innovative, digitally enabled products to help speed up the handling of their casualty insurance claims while lowering costs. The platform will initially consist of six distinct products. An AI costs assessor, a loss of earnings… Continue reading Clyde & Co Launches Innovative Platform for Claims Handling
Tag: claims handling
Timely and Accurate Claims Processing as Top Compliance Challenge for U.S. Insurers: Wolters Kluwer Analysis
The U.S. insurance industry’s top compliance shortcomings relate to claims handling noncompliance, including timeliness, required disclosures, payments and grievance and appeal processes—as well as underwriting, rating and insurance producer and sales issues. That’s according to a comprehensive review by Wolters Kluwer Compliance Solutions of U.S. insurers’ market conduct actions. The annual review uses public data… Continue reading Timely and Accurate Claims Processing as Top Compliance Challenge for U.S. Insurers: Wolters Kluwer Analysis
Industry Claim Satisfaction Survey Ranks Chubb as Preferred Insurer for Claims Handling
Commercial brokers and agents as well as risk managers selected Chubb as a top insurer when it comes to claims handling satisfaction in North America for property, management and professional liability, cyber and primary casualty coverages, according to the recently released Advisen Claims Satisfaction Survey. Advisen is an industry-leading provider of insurance data, media and… Continue reading Industry Claim Satisfaction Survey Ranks Chubb as Preferred Insurer for Claims Handling
Automation Is Creating a New Kind of Insurance Company
The Rise of Automation What were once cutting-edge science films and stories have become anachronisms. The captain of the spaceship talking to the computer and hearing an answer, the hacker crunching numbers in an instant, these were once the distant future – and now they are old news. Old news, but their impact is being… Continue reading Automation Is Creating a New Kind of Insurance Company
How Is the New Digital Cloud Affecting the Insurance Industry?
Cloud-Based Solutions A few years ago, the cloud was a novelty and maybe even a joke – now it has been baked into our technological vocabulary and is revolutionizing the world of business, not least of all the insurance industry. The cloud could be explained as an all-online software program, able to be accessed from… Continue reading How Is the New Digital Cloud Affecting the Insurance Industry?
Sedgwick to Acquire York Risk Services Group
Sedgwick, a leading global provider of technology-enabled risk, benefits and integrated business solutions, has signed an agreement to acquire York Risk Services Group. Following the close of the transaction, the Sedgwick family will comprise nearly 27,000 colleagues. York is a premier provider of claims administration, managed care, specialized loss adjusting, pool administration and loss control… Continue reading Sedgwick to Acquire York Risk Services Group
Munich Re to Deploy High-Res Imagery, AI for Faster Hurricane Claim Payments
New methods currently being explored by global reinsurance giant Munich Re could see hurricane victims receive claim payments on their damaged properties in the time it takes them to return to their homes, according to reports from German newspaper Handelsblatt. Artificial Intelligence (AI) will play a key role in enabling this rapid response time, Munich… Continue reading Munich Re to Deploy High-Res Imagery, AI for Faster Hurricane Claim Payments
Timely Claims Processing A Top Compliance Challenge for Insurers: Analysis
Untimely claims handling and failure to provide required compliant claims, underwriting, and policyholder service disclosures are the U.S. insurance industry’s top compliance shortcomings. That’s according to a comprehensive review by Wolters Kluwer of U.S. insurers’ market conduct actions published by state insurance regulators during 2017 along with data compiled by the company in its most… Continue reading Timely Claims Processing A Top Compliance Challenge for Insurers: Analysis
Willis Towers Watson Announces Significant Investment in Its Claim Resolution Services
Willis Towers Watson, a leading global advisory, broking and solutions company, today announced its Resolutions team, which will facilitate efficient financial recovery on its clients’ most significant, complex and contested insurance claims. The development extends Willis Towers Watson’s traditional claim advocacy services into the dispute resolution arena to provide an effective alternative to disruptive, costly… Continue reading Willis Towers Watson Announces Significant Investment in Its Claim Resolution Services