Claims

Sandy resulted in approximately 1.5 million claims overall, 92 percent of which were completed at four months.

The average year-over-year increase in insurers’ 2013 IT budgets was 6.3 percent; policy admin, underwriting and two other areas consume just over half of total new project resources, according to a recent survey of 24 CIOs.

The proportion of life insurers now offering e-signatures in their dealings with customers or agents has increased to 74 percent from 47 percent over the past five years, according to “Have E-Signatures Finally Arrived? An Update for Life Insurers,” from Celent, a research and advisory firm.

Growing staffs and catastrophe claims are not the main reasons costs are rising. Instead, severity is canceling out the efficiencies technology is creating, according to an analyst at this week's CEB TowerGroup Financial Services Technology Conference.

Strategic planning for clients and a review of outstanding claims included in the services.

New York and New Jersey accounted for more than half the claims in the wake of the superstorm; nearly all have been settled.

In terms of insured claims payouts, the fertilizer factory explosion likely will generate even larger dollar claims than the Boston bombings.

Satisfaction with the auto claims experience declined in early 2013, as claimants noted an increase in repair costs, according to the J.D. Power and Associates “2013 Auto Claims Satisfaction Study—Wave 2.”

Robust claims management and business continuity plans are crucial to success, as is understanding the requirements likely to be placed on mutual by reinsurers.

John Kinney, who has been with the insurer for 10 years, will lead P&C, group benefits claims operations.

Affiliate of AmeriHealth Casualty Services purchases CompSuite in an attempt to modernize its workers’ compensation environment.

Developed in collaboration with Atmospheric and Environmental Research, the product is designed to help insurers identify preexisting hail damage before underwriting a policy.

Glenn Shapiro promoted to replace the retired George Neale.

Nearly all claims solutions are noted as offering the 14 basic kinds of functionality, as well as many of the 11 kinds of advanced and additional functionalities.

Insurer invests in policy admin overhaul, including underwriting, billing and claims management.

With questionable claims numbers and fraud costs expected to grow through 2016, Aite Group outlines emerging techniques and technologies to stem the tide.

Amica receives the highest score in J.D. Power and Associates’ claims satisfaction ranking of 19 insurers.

Policy administration, claims and billing to be centralized for all of Haverford's group of companies.

Claims Manager brought in to serve as cloud-hosted core claims processing system for PCM.

Shifting health care costs and aging claimants will sharply affect auto insurance costs in the years ahead, according to Assured Research.