Rich Della Rocca

Rich Della Rocca

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    Posts by Rich Della Rocca

    Microinsurance and Claims: Overview

    Microinsurance provides a unique opportunity for both insurers and insureds. Insurers (and their shareholders) can benefit from the growth potential afforded by new markets. At the same time, insureds can gain access to protection — not currently available — for personal property and small businesses. As a result, microinsurance can help emerging markets recover quickly […]

    Claims Fraud Detection: What Are Your Priorities?

    Claims fraud may occur in only 2 percent of claims, according to some estimates, but early detection — and prevention — are growing in importance. Why? According to a new study by Celent, as reported in Insurance Networking News, property/casualty insurers have faced increasing challenges in generating underwriting profits. Those challenges result in more pressure […]

    Claims Modernization: Reduce Cycle Time and Overhead with Better Decisions through Analytics

    The pressure is on. First, carriers expect the claims department to help lower their loss ratios. Second, they require claims personnel to identify and investigate suspicious activity. Third, they expect their claims professionals to find new and better ways to fast-track meritorious claims to reduce overhead and exceed customer expectations. Fortunately, insurers have the data. […]

    Claims Modernization: Big Data, Big Opportunity

    For many claims departments, the problem isn’t data — rather, the challenge is what to do with it. Insurance companies, for years, have become adept at generating data suited for further analysis and insight. However, they’ve encountered challenges in collecting it effectively and then putting it to work. With 78 percent of carriers planning to […]

    Claims Modernization: Time to Get Ready

    Many insurance companies claim they are planning to update their claims systems over the next three years, opening a wide range of important decisions they’ll need to make in the near term. From streamlining the claims operation to preventing insurance fraud through predictive analytics, significant investments should go hand in hand with compelling return on […]

    Sandy Claims 230,000 Cars So Far

    Claims adjusters have spent the past month working through the damage from Superstorm Sandy, which made landfall in New Jersey. In some areas — specifically, those hit hardest — claims professionals have only recently gained access in order to evaluate losses. The numbers are coming in, however, providing the insurance industry a greater sense of […]