Claims
The bottom line on prescriptive analytics
Insurers will need to leverage data-driven insights to augment human intelligence to deliver superior business outcomes across various functions including pricing, claims and underwriting.
Trade Voice: Cila’s David Ross on where the industry goes wrong on gaining customer trust
David Ross, executive director of the Chartered Institute of Loss Adjusters, argues that while the industry has a mountain to climb to gain customers’ trust, claims presents a simple and effective starting point.
How can insurance providers gain more flood risk insight?
Analysis by the Environment Agency indicates that there could be a large increase - of up to 50% - in the number of houses built on flood plains over the next 50 years.
Eight ways to improve claims processes and handling
Even the smallest of inefficiencies within an insurance company’s claims process can jeopardise the customer relationship, which is why it’s imperative that insurers dedicate themselves to improving the claims process and handling.
‘Clarity’ for PI as Court of Appeal hands down judgment on mixed injuries
The Court of Appeal has handed down judgment in two mixed injury cases leapfrogged in November, providing some clarity on how mixed injuries should be handled. However, some are concerned it could lead to further litigation and an adverse impact on…
Woodgate & Clark restructures to accommodate Quadra acquisition
Loss adjuster Woodgate & Clark has restructured to fully integrate its Quadra acquisition into the the business to help navigate supply chain challenges.
Shift technology insurance perspectives - Underwriting risk detection
Underwriting professionals are under incredible pressure to meet customer expectations for quick application approvals while at the same time keeping their portfolio as clean and profitable as possible.
Government launches consultation on dual/multiple discount rate
The Ministry of Justice has launched a consultation on how dual or multiple personal injury discount rate might work, and what its effects on claimants and defendants might be.
Future of insurance claims is a 'data first' approach
There is little doubt the insurance industry will need to adopt a ‘data first’ approach to provide effective claims management processes in the future.
How does artificial intelligence make subrogation viable and valuable?
Subrogation offers insurers the important chance to reduce claim costs by assigning full or partial responsibility to another party.
Fidelis breaks ranks in Aercap lawsuit as insurers clash over defences
Fidelis has been permitted to join a $3.5bn lawsuit brought by the world’s largest aircraft leasing company Aercap as a third defendant, despite objections from fellow insurer AIG.
Is Direct Line’s profit warning a bellwether of more bad news to come?
Content director's view: Jonathan Swift reflects on what Direct Line Group's trading update, and decision to scrap its 2022 dividend, might mean for both it and the UK insurance market.
Q&A: IFB director, Ursula Jallow
Newly appointed director of the Insurance Fraud Bureau, Ursula Jallow, spoke to Insurance Post about her plans to lead the industry's collective fight against fraud.
Defra to set out recommendations to reduce flood risk
The Department for Environment, Food and Rural Affairs is looking to introduce a new approach to sustainable drainage, which is set to be incorporated into new developments in England to reduce flood risk.
Direct Line Group shares fall off a cliff as it scraps dividend for 2022
Direct Line CEO Penny James has announced that the board "no longer expects to declare a final dividend for 2022" after a significant increase in claims as a result of the prolonged period of severe cold weather in December, causing its shares to crash.
Five key KPIs in insurance fraud detection and why you should be tracking them
Preventing, detecting and recovering payments on fraudulent claims are key objectives for SIU teams.
Fresh multimillion pound Covid BI claims hit Allianz and Liberty
Three years on from the onset of the spread of Covid-19 around the world, insurers continue to face fresh business interruption claims that run into the tens of millions.
Tech trends #16: How technology is transforming P&C insurance
In this short video, Laura Drabik, chief evangelist at Guidewire outlines how new technologies enable insurers to make a profound difference in people's lives.
Mould in properties is becoming a growing insurance issue
The death of two-year-old Awaab Ishak in a housing association flat has certainly placed the health risks posed by mould firmly in the limelight. Edmund Tirbutt explores the implications of this for the insurance industry.
New data sources to enrich the insurance claims experience
Customer data management and identity solutions have emerged to allow insurance providers to process claims quicker from verified parties while adding appropriate review processes for high-risk claims.
IoT drives innovation in insurance
The number of IoT connected devices is expected to increase to over one trillion devices by 2025, providing an enormous data set for insurance analysis.
Misstatements and errors: Opportunistic home insurance claims fraud adds up to millions
Two-thirds of home insurance consumers think it is somewhat, or completely acceptable to manipulate the information they provide to price comparison sites to keep prices down.
Retiring Muress replaced by Simoncic at Sedgwick
Market moves: Sedgwick international chief executive officer Ian Muress has announced plans to retire on 31 March, when he will be replaced by Tom Simoncic.
FOS car valuation complaints have spiked since 2018
Complaints to the Financial Ombudsman Service regarding the valuation of cars during the claims process rose by 45% from 2018 to 2020, according to a Freedom of Information request made by Insurance Post.