Claims & Reserving
AOB Abuse in Fla. Reaching Crisis Point
Assignment of benefits (AOB) abuse has escalated over the last five years to the point where it is now a serious disruption to Florida's insurance market. The abuse, which is especially rampant in ...
Blackstone Group to Pay Up to $4.8B for Aon’s Employee Benefits Outsourcing Arm
Insurance broker Aon Plc said on Friday it agreed to sell its employee benefits outsourcing business to private equity firm Blackstone Group LP for up to $4.8 billion. Blackstone will pay $4.3 ...
More Insurers Adopting Predictive Analytics to Combat Fraud
Declining cost barriers, the availability of cloud storage and telematics will likely increase predictive analytic adoption rates, according to Dan Donovan, assistant vice president of Claims ...
Lemonade Boasts Claims Settlement Speed Record, AI Jim Answers Questions
Recently, Lemonade reported a claim-handling world record. The insurer reported a claim settlement speed record—three seconds and no paperwork. According to the insurer, a policyholder submitted a ...
Dwindling Investment Returns, Heavy Competition Erode Insurance Industry Fundamentals
The ongoing pressures of diminishing investment returns, dwindling loss reserves and intense competition are beginning to erode industry fundamentals, cautioned A.M. Best in a special report titled ...
Too Much Tech, More Lawyers Fuel Auto Insurance Woes: Hartford Execs
Although small commercial insurance—outside of auto—is a top-line accelerator at The Hartford, auto insurance severity continues hitting the bottom line, say executives who expect a pretax $50 ...
Using Technology to Solve Carrier/Broker Inefficiencies
During the annual International Association of Claim Professionals (IACP) conference held in Sonoma recently, Claims Journal hosted an executive roundtable with board members to discuss ...
Researchers Find Evidence of Brain Injury in Young NFL Players
In a small study of young or recently retired NFL players, researchers at Johns Hopkins report finding evidence of brain injury and repair that is visible on imaging from the players compared to a ...