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Auto Claims

Optimise Insurance Claims

2/10/2020 - 4 min read

How to optimise insurance claims and improve your customer’s experience

Customer expectations are continually evolving, no more so than in the world of insurance. Customers are increasingly digital-first and choosing services based on convenience. They’re seeking easier methods to both purchase an insurance policy and make a claim when they experience a loss.

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1/27/2020 - 3 min read

Picture this: Get critical claim insights from vehicle location photos

As claims fraud persists—costing insurers approximately $30 billion a year—adjusters play an important role in identifying questionable claims early.

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1/16/2020 - 5 min read

How to find fraud in insurance claims

For insurers looking to stem the $30 billion-a-year insurance claims fraud problem, early detection is key.

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1/15/2020 - 3 min read

Getting ahead of the claims game: Reducing the cost of personal injury claims, with or without delay to reforms

The 2018 Civil Liability Act is expected to take effect in April this year and is set to transform the handling of low-value personal injury claims in England and Wales. The Act seeks to control the growth of motor insurance premiums for “ordinary” motorists by reducing the cost of whiplash injury claims.

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12/17/2019 - 16 min read

Ohio court rules that Medicare Advantage Plans can sue insurers for “double damages” under the MSP

The U.S. District Court in Ohio ruled MAPs can sue insurers for “double damages” under the MSP.

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12/13/2019 - 5 min read

Distracted driving and commercial auto

You read about accidents caused by distracted drivers in the news all the time. It’s a serious issue and one that deserves attention by commercial auto insurers.

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12/10/2019 - 3 min read

Want to reduce cycle times? Find missing claim details faster

Claims adjusters are charged with a difficult task: They have to process claims quickly and efficiently, but sometimes they don’t have the necessary information to do so. Without critical entity or event details, claims stay open longer, cycle times extend, costs escalate, and customer satisfaction declines.

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11/6/2019 - 2 min read

Why data is critical to countering insurance fraud in Ireland

Insurers in Ireland need to look at how they can use data from a wide variety of sources to significantly reduce the risk of fraud at the application and claims stage.

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10/29/2019 - 5 min read

As claim severity climbs, analytic insights hold key to containment

Insurers today are struggling with what seems like an intractable problem: the impact of rising claim severity on their bottom line. This upswing shows no sign of abatement: for the past two decades, severity has increased almost every year for auto and workers’ compensation medical and indemnity claims.

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7/18/2019 - 4 min read

Life insurance fraud: A holistic claims view key to detection

Life insurers can face a myriad of challenges today. Some of those issues have plagued the industry for years—such as stagnant premium growth and low interest rates—while others are new—like changing customer expectations and disruptive innovations such as on-demand policies and selfie underwriting (yes, that’s a thing).

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7/10/2019 - 4 min read

The growth of litigation funding and its potential effects on commercial auto insurance: Part Two

Litigation funding’s impact on insurers can be huge, starting with the potential for nuclear verdicts. Commercial auto insurers consider anticipated risks and predicted losses as part of the calculation in determining premiums.

12/10/2018 - 1 min read

Verisk named People's Choice Innovation Vendor of the Year by Insurance Nexus

Insurance Nexus, a global provider of insights and events for the insurance industry, has named Verisk as its People’s Choice Innovation Vendor of the Year.

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11/27/2018 - 4 min read

Uncover key claim details with social media

The average user spends 2 hours a day on social media. Hidden within the sea of tweets, snaps, and posts on these social platforms is information for the claims process.

Auto Insurance

11/14/2018 - 2 min read

Rethinking insurance for a rapidly changing world

The growth of smartphones and online shopping has changed consumers' expectations. They want a fast, accurate, and personalized buying experience. They want coverages for their specific needs, quotes that don’t change, and claims that are paid quickly.

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10/16/2018 - 3 min read

Uncovering fraud in auto extended warranty insurance

For most drivers, purchasing an extended automotive warranty for their vehicle means peace of mind in the event their vehicle malfunctions and needs critical repairs. For others, the intent is different—fraud. These individuals try to pass off preexisting vehicle issues as a covered warranty claim.

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