Claims

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.

Aite Group report finds compliance and reporting, customer-centricity, multi-channel distribution and engagement prompt desire to modernize.

Insurer to implement Innovation Group's entire suite, including policy, claims and analytics elements.

Billing Stream, Claims Stream to be implemented in a multi-phased approach.

VP of Claims discusses her responsibilities, challenges and motivation as part of INN’s series, in which editors report on a day spent with an insurance IT executive. Find full coverage of the day in the July/August issue of Insurance Networking News.

CSC has expanded its business process services to include an unclaimed property resolution process, which is intended to help life insurers and annuity providers identify unclaimed policy benefits, optimize administrative operations and comply with state escheatment mandates.

After auto claims satisfaction dipped in the first quarter, decreased out-of-pocket spending and shorter repair processes contribute to much stronger results in the second quarter.

Progressive touts an expansive set of data as underpinnings for more accurate, discounted rates, expands usage-based insurance offer.

Huatai's purchase represents the first deployment of anti-fraud analytics in China's insurance industry.

Victims of wildfires that have claimed hundreds of houses and almost 30 miles of land prompt are flooding insurers with hundreds of claims.

U.K. general insurer goes to Guidewire for underwriting, policy administration and claims software.