Future of Claims

 

Discover the Future of Claims at Verisk

Fast-moving market change and increased customer demand have pressured insurers to transform the claims experience. This resource hub is designed to help your team navigate today’s critical technological, analytic, and workflow challenges. Discover guideposts for succeeding in the new paradigm and learn about the latest developments – from AI systems that triage claims and detect hidden fraud to remote collaboration tools and drone-sourced imagery that enable anywhere/anytime adjusting.

Watch The Future of Claims at Claims Innovation

Policyholders are expecting an increasingly customized experience when they have losses. Watch Mike Fulton, president of Xactware, expound upon the opportunities that claims automation provides to meet new service aspirations, improve cycle time and accuracy, and improve adjuster workplace satisfaction.

 
 

Listen to the Forbes interview clip on the Future of Claims

Verisk’s president of Claims, Rich Della Rocca, discusses how insurers can advance operational efficiencies through a wealth of automation opportunities. Read more here.

 
 

Rich Della Rocca explains why a bigger focus on the future of claims is needed

Rich Della Rocca recently spoke to Reinsurance News to explain why a focus on the future of claims is essential for insurers to adapt during the COVID-19 pandemic and beyond. Read the article here.

Future-Focused Webinars for 2020 and Beyond

Riot Catastrophes: Should Unprecedented Industry Losses in the U.S Really Have Been Unexpected?

(recorded November 16, 2020)
Listen to Tom Johansmeyer, head of PCS at Verisk, share insights on how COVID-19, economic malaise, and social factors have significantly contributed to the largest riot and civil disorder insured loss in U.S. history. Learn what riot and civil disorder will mean for the U.S. and global claims community in the years to come while taking a closer look at how claims are being handled beyond the intersection of riot and pandemic.

Preparing for the Post-COVID Claims World: Trends and Challenges in the New Normal

(recorded October 21, 2020)
In this session, three panelists discussed how the COVID-19 timeline has impacted the insurance industry across the board. Claim volumes dropped, virtual inspections expanded, and fraud increased. Gain insights into how the industry is slowly emerging from the pandemic's early challenges and how claims leaders are looking ahead to the post-COVID future.

Effective Solutions for Hail Damage Claims in Canada

(recorded September 23, 2020)
Listen to R. Glenn McGillivray, managing director of the Institute for Catastrophic Loss Reduction share insights on this year’s record-breaking hail events that are reshaping the claims landscape throughout Canada. Learn about hailstorms during recent years that accounted for hundreds of millions of dollars in property damage, and discover why this trend is likely to continue into the foreseeable future.

Housing Crisis on the Horizon: How Automation is Changing the Foreclosure Landscape

(recorded August 26, 2020)
In this talk, panelists discussed the introduction of the Consumer Financial Protection Bureau (CFPB) as well as other new regulations and requirements that changed America’s approach to managing future housing crises. Learn how innovative solutions like default servicing bids and vendor management enhance current and future distressed and foreclosed properties.

Settling them up and moving them out – Workers’ comp trends, opportunities, and strategies in the new normal

(recorded July 15, 2020)
In this session, four panelists discussed the continuing effects of the pandemic on the U.S., how claim payers are reporting renewed interest in settlements, and when to identify settlement opportunities. Explore recent changes to the workers’ comp landscape with key updates, and learn how to outline strategies to optimize settlement opportunities.

What’s Brewing in the Legislature? Executive Orders, New Proposals, and Defending COVID-19 Comp Claims

(recorded June 24, 2020)
In this session, our panelists examine the landscape of how executive orders and proposed legislation could impact workers’ comp claims as the COVID-19 pandemic continues. Learn how proposed changes could significantly impact insurer exposure and claim settlement values and how movement in state capitols could impact WC insurers.

The Truth Is in the Data – Claim Insights During COVID-19

(recorded June 3, 2020)
Listen to an overview of COVID-19’s impact on claims based on the most current industry data and hear expert analysis of how claims operations can pivot to excel during these challenges.

When Hurricane Season Collides with Pandemic: Using Imagery, Weather, and Geospatial Data for Loss Assessment

(recorded May 13, 2020)
In this session, panelists provided an illuminating exploration of post-event aerial imagery, highly localized weather data, and automated policy information. Participants were able to garner practical ways to prepare their staff to efficiently adjust catastrophe claims even during times of remote work constraints.

Dr. Robert Hartwig in Conversation with Verisk Experts: Economic Impact of COVID-19

(recorded April 29, 2020)
Dr. Hartwig did a deep dive into how the U.S. economy is faring during the COVID-19 crisis and predicted that the financial repercussions will be felt for years. He and the panel of Verisk experts talked about what the shockwaves in the larger economy mean for insurers. The session included specific ways that claims department could manage costs to deal with liability and workers’ comp challenges occurring right now.

Profiting from Pandemic? Why claim fraud detection NOW is more critical than ever

(recorded April 15, 2020)
In this talk our Verisk experts were joined by Tracy Pickard, Claim Director for SIU, Internal Fraud and Claims Quality Assurance for “The General Insurance Company”, who explored the historical precedents for rising claims fraud during economic crisis and took a look at recent claims data being reported during the past weeks. A significant rise in questionable claims, thefts of medical equipment, and other suspicious activity illustrated that the conditions surrounding the pandemic may be leading to an increase in insurance fraud schemes.

Navigating the New World of Remote Insurance Claims

(recorded April 1, 2020)
This session featured Jackie Jones of Indiana Farm Bureau Insurance, Stacy Desilets of Farmers Insurance as well as Jason Taylor, Cade Taylor, and Mark Popolizio from Verisk. The discussion focused on how claims professionals are connecting with customers and keeping claims moving in a virtual environment. Look for encouraging poll results that indicate many insurers feel they’re in good shape for today’s challenges. Plus hear about technology that’s helping keep insurers and claimants in close communication.