With hurricane season right around the corner, memories of Superstorm Sandy remain fresh. Forecasts for storm activity are starting to appear, as they do every April, and it looks as though this year may be above average. According to Artemis, the Tropical Storm Risk consortium expects 15 named tropical storms, with 8 becoming hurricanes and [...]
ClaimSearch
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 [...]
Signups for the ISO ClaimSearch® Medicaid Reporting Service have been brisk: 454 companies have enrolled in the program since its inception in November 2012. The ISO ClaimSearch Medicaid Reporting Service is free for all ISO ClaimSearch users. ISO developed the ISO ClaimSearch Medicaid Reporting Service to help insurers respond to the Medicaid reporting and verification [...]
The ISO ClaimSearch Medicaid Reporting Service helps you comply with Rhode Island’s new Medical Assistance Intercept Act. The legislation requires all insurers that write workers compensation or liability policies in the state to participate in a data match program called the Medical Assistance Intercept System (MAIS). The program recovers and intercepts Medicaid payments that the [...]
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 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 [...]
