Claims

The majority of insurance software sales in Latin America consist of core systems sold to new customers and smaller insurers, according to “Latin American Insurance Software Deal Trends 2013, Life/Annuity/Health and Property/Casualty Editions,” from Celent, an international financial research and consulting firm.

Claims resulting from last week's EF-5 tornado total $85 million in insured losses thus far.

Upgrade designed to enable the Choctaw Nation of Oklahoma to track hierarchy, multiple program locations and divisions across all lines of business.

A fruitful group discussion on social media among ACORDLOMA attendees unveiled shared experiences and progress being made with social business.

The latest damage reports from Monday’s EF-5 tornado solidify speculation it will rank among the most damaging in U.S. history.

Certus' construction, property/casualty examiners will handle legal, coverage matters for the insurer's construction defect claims.

Moore, Okla., suffered $1.4 billion in damages from a 1999 tornado; experts predict yesterday’s EF-4 will result in similar figures.

App designed to provide instant access to coverage information, proof of insurance, claim submissions and roadside assistance.

Early reports indicate that State Farm has received more than 3,500 home and auto claims as of this morning, less than 48 hours since a series of tornadoes that tore through Granbury, Texas, and the surrounding area, causing at least six deaths and injuring more than 100 more.

Personal automobile and bodily injury are the most common policy and loss types among questionable claims, according to the National Insurance Crime Bureau.

A committee of 11 insurer CIOs has selected nominees for the second-annual Novarica Research Council Impact Awards. Nominees include: AIG, Aegis, Erie Family Life, Great American, Nevada General, PURE, RLI and XL.

Dana Lenahan comes to the insurer with 12 years of corporate litigation experience.

IBM says software should enable the insurer to turn social media into an actionable communications channel.

High losses come despite a dramatic decrease in the number of tornadoes last month.

ViewPoint and Claim Canvas are cloud-based apps designed to be implemented within days by insurers with Guidewire software.

eSignature integration is intended to facilitate interactive claims correspondence and on-demand policy issuance applications.

According to Sapiens, the product is designed to enable carriers to build, maintain and leverage a centralized repository of reusable business rules and logic, which is designed to provide a single source for enhanced business decision making, easier compliance, better governance and improved efficiencies.

Exigen Insurance Solutions has released Exigen Pre-Configured Solution Packages, which, the company said offers more than 80 percent of core systems functionality required by P&C insurers. It uses the configuration capabilities of the Exigen Suite multi-line platform for policy administration, billing and claims management to reduce the technology and business risks associated with core systems replacement. Exigen said Pre-Configured Solution Packages can cut implementation times by half and save as much as 40 percent in average costs.

INN developed the ranking in partnership with Celent, an independent business research and advisory service with a specialization in insurance technology. Celent facilitated survey development, data collection and analysis. The result is an insightful set of rankings based on objective peer review.

Eighty-three percent of P&C insurers indicate that they will increase their spending over the next three years. The top three areas for investments in analytics, according to SMA’s data, “remain the risk-centric areas” of product development, underwriting and claims.