Claims

Out-of-the-box solution for adjusters and claims professionals now designed to include a customizable dashboard, further technical advancements.

AIR Worldwide, catastrophe modeling firm, estimates that insured losses from Sandy to onshore U.S. properties will be between $7 billion and $15 billion.

Contractor plans to use CSC software to enhance communication between parties, as well as rate and identify vendors based on performance.

New version designed to support increasingly complex insurance policy products.

Provider of risk financing and loss prevention services for Texas municipalities calls on software provider in attempt to become more proactive with claims.

Claims system upgrades can be as frustrating to integrate with legacy systems as they are exciting to purchase.

Insurer deploys the Toughbook mobile computers in all 50 states, enabling appraisers to write estimates on site and upload reports.

More than half of U.S. insurers surveyed expect rise in personal property, workers' compensation and auto insurance fraud losses.

Claims Group President, The Progressive Group of Insurance Companies

Claims processing remained the top compliance issue for P&C insurers, followed by rating factors and the cancelation of policies. In terms of life and health insurers, problems with claims processing stole the top spot away from compliant policy forms, which was reported last year as the biggest compliance issue. Failure to pay claims properly in accordance with policy provisions was only fifth on that list for life and health insurers.

Given a $3 million-to-$5 million bump in budget, almost one-third of insurer CIOs would put the money toward analytics, despite already investing heavily in that area, according to “If I Had $5 Million… Where Insurer CIOs Would Spend Money They Don’t Have and Why,” a survey from Novarica.

Towers Watson survey of claims officers finds reassessment of best practices necessary for enhancing claims performance.

Insurer expects the new commercial lines system to streamline operations, enhance workflow and provide agents with a greater ease of doing business.

Hurricane Isaac is not likely to be a market-changing event that would tip the balance to a hard property market.

More than half of insurers surveyed now use anti-fraud technology solutions, according to “The State of Insurance Fraud Technology: A study of insurer use, strategies and plans for anti-fraud technology,” from the Coalition Against Insurance Fraud and SAS. However the study found that while the majority of respondents (79 percent) said that special investigations units are the sponsors of anti-fraud projects, other departments typically control the project budgets, which could slow the implementation of the technologies, the study said.

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.