Climate change has the potential to drastically affect the insurance industry. As the climate continues to shift, insurers face increased financial risks from payouts and claims for incidents related to extreme weather, such as [...]
Claim organizations face significant challenges in today’s environment. The escalating cost of claims continues to be a major concern, along with increasing administrative burden. From timely incident reporting to accurate claim resolution, organizations need [...]
The longer a claim stays open, the more expensive it can be to your company. To get claims closed more quickly, insurance claims software can add the efficiencies you need to save both time and [...]
CHALLENGE Slow claim resolution and poor data were driving up costs at a large truckload carrier company. The company has thousands of drivers crisscrossing the country at any given time. Data from safety incidents [...]
A classic candidate for claims auto-adjudication: A truck driver gets into an accident, resulting in a significant crack to the windshield. A claim is filed, and the driver waits to hear back. A few [...]
By Marina Mats and Deepak Varshney, Riskonnect More than a year has passed since the start of the pandemic. Since the abrupt shutdown in mid-March 2020, claims trends have been somewhat erratic, likely a [...]
By Marina Mats and Deepak Varshney With a return to “normal” still stubbornly distant, COVID-19 remains the prominent force shaping claims trends. In many places, restrictions were cautiously eased – just to be restarted when [...]
Implementing the Senior Managers and Certification Regime (SMCR) has been a challenge for many organizations. Now there is the daunting prospect of contending with ongoing maintenance, including the annual assessment of the fitness and propriety [...]
Every industry has felt the effects of the COVID-19 pandemic – but some have clearly been impacted more deeply than others. Grocery stores saw soaring sales as customers stocked up on supplies. Revenue from [...]
Tips to mitigate the impact of the coronavirus pandemic on insurable risk With all of the questions and unknowns surrounding COVID-19, companies everywhere are struggling to balance being a good corporate citizen with [...]
You’ve made the decision to self-administer some or all of your insurance claims and now you need to decide on which claims administration software best meets your needs. But where do you start? Who [...]
The decision to self-administer claims should not be made lightly nor quickly by any organization. Claims self-administration requires taking full control of the claims handling function in-house versus leveraging the stability and expertise of a [...]
