Claims

Nationwide Mutual Insurance Co. will use Guidewire PolicyCenter as its underwriting and policy administration system and Guidewire BillingCenter for its P&C insurance lines. Nationwide Mutual already is in the process of deploying Guidewire ClaimCenter for claims handling for all P&C lines of business.

Long-term care insurance decisions are not being made only by the elderly, according to a new report. A study conducted by the American Association for Long-Term Care Insurance notes that the youngest claimant was 24 years old when he began receiving benefit payments from his long-term care insurance policy. Now in his seventh year of receiving payments, the coverage was purchased when the claimant was 21 years old.

SMA Partner Karen Furtado is given one minute to explain why configuration tools are important to insurers. SMA Partner Karen Furtado explains why configuration tools are important to insurers. Sponsored by ISCS.SMA Partner Karen Furtado explains why configuration tools are important to insurers. Sponsored by ISCS.   

A group of Russian insurers have signed an agreement to implement ACORD standards. This will be the first documented ACORD implementation in Eastern Europe.

EQECAT's early estimates surrounding Isaac draw comparisons to Hurricanes Gustav and Florence.

Latest Allstate report ranks the nation’s largest 200 cities based on the frequency of auto collision claims.

Latest Allstate report ranks the nation’s largest 200 cities based on the frequency of auto collision claims.

AIR Worldwide, a catastrophe modeling firm, estimates that losses resulting from farmer claims for the crop insurance industry may exceed $13 billion with the potential to reach as high as $20 billion.

How a start-up telematics insurer is allowing U.K. insurers to look at young drivers completely differently.

During the first half of 2012, 58,523 questionable claims were referred, according to the National Insurance Crime Bureau.

Deloitte's new report outlines two types of fraud: the deliberate faking of an accident and fabrication of a claim, called hard fraud, and exaggerated values on legitimate claims or misrepresented information in an attempt to garner lower policy premiums, labeled soft fraud.

The specialty insurer looks to the claims management software to support its goal of increasing effectiveness and efficiency of payments.

After purchasing ClaimCenter from the provider five years ago, the insurer is also implementing Guidewire's billing, client data management and policy administration systems.

In July, severe drought and heat waves effected great swaths of the United States, causing billions in insurance losses, according to Aon Benefield’s “July 2012 Global Catastrophe Recap.” Up to 64 percent of the continental United States is experiencing at least moderate drought, according to the National Climatic Data Center, and half of all U.S. counties have been declared disaster areas.

The Innovation Group plc released a new version of Insurer Analytics, which includes new functionality for policy analysis, insurance analytics, usability and extract/transform/load (ETL) process. The new version is designed to enable users to measure, monitor and manage and uncover insights and opportunities.

Company expands executive risk claims team in Atlanta office.

Upgrading claims systems is a high priority, ranking among the top three projects for 41 percent of large property/casualty carriers and 23 percent of midsize carriers, according to “Novarica Market Navigator: US Property/Casualty Claims Solutions 2012.” This year, insurers will select between 65 and 75 new systems, compared with 50 to 60 claims systems last year.

The property/casualty industry is facing a number of potentially transformational forces, including increasing competition, consumerization, the number of communications options for both agents and customers, social networking, and an evolving regulatory environment, according to Gartner’s “Hype Cycle for P&C Insurance, 2012.”

Mitchell says that, under the terms of the multi-year agreement, GAINSCO will implement WorkCenter Total Loss, developed in conjunction with J.D. Power and Associates, as well as Mitchell's assignment, repairable estimating and reporting solutions.

Susan Hood's command of her claims organization is only surpassed by her passion for claims excellence and for her people.