Claims & Reserving
Workers’ Compensation’s Real Challenge: Orchestration
Workers' compensation has long been one of the most operationally complex lines in the property/casualty insurance industry. What appears on the surface to be a straightforward claims process is, in ...
Business Interruption Claims Approach $1M Average, Says Allianz
The average cost of a business interruption claim is nearing $1 million, an upward trend that appears to have several causes. A new report shows BI losses are being pushed up by natural catastrophes, ...
Sedgwick: Property Claims Face Delays, Are Growing More Complex
Despite the promise of artificial intelligence and other technology to improve and speed the insurance process, property claims face delays and growing complexity, according to a new report that also ...
Examining Trust: It’s Not All About the Lawyers
According to a recent Wall Street Journal analysis, personal auto insurance policyholders have a "near-flip-of-a-coin" chance of being paid on liability claims and medical claims. Ouch. Just about a ...
The Car Remembers What Happened; Human Beings Can’t
At 22 years old, as a claims adjuster trainee, I began taking accounts from people who had been in accidents. One of the head-scratchers I heard most consistently was that the other driver was ...
Are We Measuring the Value of Claims AI or Simply Measuring Its Activity?
Imagine a claims leadership meeting a year after the organization introduced a new AI platform. The dashboard looks encouraging. Documents are being summarized. Demand packages are being reviewed ...
Johnson & Johnson Announces $5.5 Billion Settlement of Talc Lawsuits
Johnson & Johnson said on July 27 it would pay an estimated $5.5 billion to resolve tens of thousands of lawsuits alleging its baby powder and other talc products cause ovarian cancer, in a ...
Beyond the Weather News Bulletins: How Insurers Can Improve NatCat Responses
When a wildfire, hurricane, tornado or flood is unfolding, the news media plays a critical role in alerting local populations. But in the decade my colleagues and I have spent working through these ...