According to Guidewire, Westfield looked for a system that would help support its growing commercial business, consolidate disparate systems and address the need for higher quality data in its pursuit of improved analytics. ClaimCenter will enable Westfield to improve the quality of service; collect and use claims data for organizational analytics; create consistency and operational efficiency through the establishment of claims-handling processes; and keep pace with market changes and business growth through system flexibility.
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A below-normal hurricane season may be ahead, according to NOAA, but insurers say preparedness remains critical as climate risks and coastal development intensify.
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Instead of waiting for claims to confirm damage patterns, carriers can begin identifying likely impact zones earlier.
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Digital Insurance interviewed seven of the insurance commissioner candidates about how they would address the state's insurance crisis, AI risks and opportunities, rate increases and climate change issues.
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Artificial intelligence is placing increased demand on insurers to guard against fraud and other forms of risk. Experts are urging an investment in AI literacy and other forms of training to limit exposure, rather than simply deploying more AI internally as the only safeguard.
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The counties with the greatest exposure lie along the coasts of Florida, Louisiana, South Carolina and Texas.
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The technology is lowering the bar for cyber criminals attacking companies, according to Ryan Kratz, head of cyber for North America at MSIG USA. Kratz spoke with Digital Insurance about how the new type of attacks work.
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