When Andrew, a category 5 hurricane, made landfall on August 24, 1992, it was a wakeup call for the insurance industry. The devastation that resulted became the impetus for the widespread adoption of catastrophe models, according to Karen Clark, co-founder …
A recent federal hearing on insurance fraud exploring the necessity of a federal fraud fighting program, highlighted how stakeholders work to address and fight the multi-billion dollar industry. The Subcommittee on Consumer Protection, Product Safety, Insurance, and Data Security, held …
Filling workers’ compensation claims positions will require insurers to change their idea of what an ideal employee is. That’s according to Debbi Bromley, senior vice president of Human Resources at Genex. She discussed workers’ comp hiring concerns during a recent …
Changes in ownership, coverages and the way claims are evaluated are just a few of the ways self-driving cars will impact the auto insurance industry, according Jared Smollik, actuarial director of personal auto product development for Verisk Insurance Solutions. Though …
Construction in the U.S. is at an all-time high and with that comes an increased risk relating to mobile crane use. According to the 2017 Rider Levett Bucknall Crane Index, Seattle, Chicago and Los Angles round out the top three …
In a recent earnings report, Allstate reported positive changes as a result of its move toward an integrated digital enterprise. According to Matt Winter, Allstate president, claims is a good place to start deploying emerging technologies because of the many …
Farmers Insurance announced a new microdrone fleet that will assist adjusters on residential roof damage claims in areas impacted by hailstorms and other severe weather events. The insurer tapped Calif.-based Kespry for the micro UAV quadcopters that weigh 4.4 pounds …
The last month of summer could bring a spike in motorcycle claims, according to American Modern Insurance Group. The insurer reports that of the 60,400 motorcycles it insures, 570 were involved in crashes in August 2015 and 2016. Many motorcycle …
Federal legislation was again introduced to streamline the claims process during disasters by offering model adjuster licensing and testing requirements to states. Originally introduced in 2012 by Representative Stephen Lee Fincher in the house as H.R. 6415 and then reintroduced …
A report released earlier this year by research and advisory firm Novarica highlights how digital opportunities, analytics and the Internet of Things (IoT) are driving changes in claims. Customer service standards set by other industries is contributing to the digital …