Claims

Head of the agriculture unit at Munich Re cites drought as the biggest cause of losses in 2012.

Vehicle repair times and satisfaction with the repair process both decline.

From 2008 to 2011, the number of questionable claims suspected of being part of an organized group or ring activity increased by 47 percent, according to the National Insurance Crime Bureau’s “Data Analytics Forecast Report.” However, that number of questionable claims with the OGA referral reason decreased markedly in 2011 and continued to fall in in the first half of 2012.

Insurer looks to achieve greater agility for expansion with new underwriting, policy administration, billing and claims management systems.

Trillium survey finds 75 percent of claims systems should be upgraded or replaced within five years; analytics and better communication present opportunities to improve cost-effective customer satisfaction.

Industry organizations have responded enthusiastically to news that Congress has agreed to a $9.2 billion authorized increase to the National Flood Insurance Program (NFIP), which is necessary to pay claims resulting from Superstorm Sandy. The bill had already passed the Senate and President Barack Obama is expected to sign it.

Severe weather-related catastrophes in United States accounted for a larger-than-normal portion of global catastrophe losses in 2012, increasing to 67 percent from an average of 32 percent, and 90 percent of global insured losses, compared to an average of 57 percent, according to Munich Re.

TriZetto Corp. has acquired Healthcare Productivity Automation, which sells a claims workflow tool to automate manual payment processes by providers and insurers. Terms of the acquisition were not disclosed.

Mobile claims applications clearly have the potential to increase customer satisfaction by offering greater speed, accuracy and transparency into processes that were previously opaque. But without proper planning, they can prove to be a double-edged sword.

The added difficulties and pressures that come with providing claims coverage through a mobile app.

Experience is critical to customer satisfaction and retention, but even more crucial is balancing satisfaction with cost-effectiveness.

As large insurers' investments in claims technologies continue to increase and pay off in competitive advantage, more and more insurers are being lured into similar spending strategies.

This compilation of the top slideshows of 2012 is based on pageviews and represents the biggest topics and trends from the past 12 months.

INN’s top videos list is based on views and contains must-know information from some of the most forward-thinking voices in the industry.

Applying entity analytics to claims detection and prevention is a proven way to outsmart the fraudsters.

As the rubble settles along the U.S. Northeastern coastline devastated by superstorm Sandy, insurers are offering initial estimates of its losses. Sandy, a deadly 1,000-mile wide storm that took the lives of 132 people as it swept up the Northeastern seaboard in late October, is expected to cost insurers up to $25 billion in total losses. By these estimates Sandy is being classified as the second-costliest storm after hurricane Katrina in 2005.

Auto and property insurer turns to InsuranceSuite to provide rating, underwriting, policy administration, billing and claims management.

Weather-related losses in the United States dominate the insurer’s list of losses.

Insurers are caught in a bind when it comes to business growth and preventing insurance fraud, according to a new report from Forrester, titled “Prevent Insurance Crime With The Four Cornerstones Of Better Fraud Management”; growth nowadays—which means emerging technologies such as mobile and social—inherently presents challenges and open doors to fraud risk.

Aite Group asks P&C claims executives for their perceptions of 14 different software and service categories, including claims management system vendors and claims analytics providers.