Claims

Mobile Appraiser Pro uses photo capture technology and AI-powered mobile estimation and valuation tools to provide nearly real-time insight to field appraisers.

Insurance companies are rolling out digital capabilities to revolutionize the claims process. Are customers coming along?

In 2021, only about 40% of claimants interacted with a claim estimator via digital channels and 47% made a claim using a website.

In case you missed it, insurtech -- technology developed to improve and transform the insurance industry -- is having a bit of a moment. Forrester recently reported record-breaking funding for insurtechs, closing Q3 at $15 billion - more funding than in 2019 and 2020 combined - with more deals anticipated by the end-of-year.

Companies create a more customer-friendly, digitally-focused roadside assistance experience.

The stay-at-home mandates, school and business closings, and increased remote work arrangements emanating from COVID-19 resulted in a significant decrease in motor vehicle accident frequency in 2020, with that trend continuing into 2021. There are many other, less obvious forces that actuaries and company management should consider as 2021 year-end reserves are analyzed.

In other news: Zurich releases cyber risk survey results; Hertz and Uber to add 50,000 Teslas to network; Amica selects Shift Technology.

Insurers should enhance the capabilities and broaden the roles of claims professionals to reap the benefits of advanced tools while maintaining personal engagement at moments that matter.

What’s driving your digital claims transformation program: COVID? Competition? Or cost? Whatever the answer, we could be in danger of leaving the customer out of the equation in the rush to digitize and automate insurance processes. It could be time to take a more user-centric approach, reimagine the customer journey and find out what customers actually want.

Insured losses from the storm, the second-most intense hurricane to hit the state of Louisiana, will probably range between $28 million and $30 million, the reinsurer said in a statement Tuesday. It estimated its own cost from claims related to the storm at about $750 million.