Loss Control

12/20/2019 - 4 min read

Property/casualty medical fraud: 5 strategies for reducing your exposure

It seems like every month there’s news of another medical fraud bust, often involving rings of various types of providers. But that’s just the tip of the iceberg.

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.

12/2/2019 - 2 min read

December 2019 preview: Historical catastrophe activity

December traditionally experiences catastrophes from wind and thunderstorm events or winter storms, but in recent years, wildfires have been a growing threat.

11/15/2019 - 4 min read

Litigation insights offer the key to rising claim costs

Legal analytics make it possible for insurers to derive actionable insights from legal data to improve claims handling and litigation outcomes.

11/15/2019 - 4 min read

All-or-nothing automation? Incremental change is a winning proposition

Robotic process automation (RPA), machine learning, and AI can be embedded in processes throughout the claim life cycle—from triaging through settlement.

11/15/2019 - 4 min read

Successful workers’ comp analytics starts with the right plan

Workers’ comp analytics can improve claims process by identifying high-severity claims early, promoting consistency in claim handling, and improving return-to-work results.

11/5/2019 - 1 min read

November 2019 preview: Historical catastrophe activity

With hurricane season ending officially on November 30, we look ahead to the potential catastrophe risks for the month.

11/4/2019 - 3 min read

3 keys to stopping medical provider fraud, waste, and abuse

It’s no secret that medical fraud is a big problem, with some sources estimating the cost at more than $200 billion annually.

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.

10/3/2019 - 1 min read

October 2019 preview: Historical catastrophe activity

October marks the end of peak hurricane season. While the fourth quarter generally tends to be less active than the third, insurers should still be vigilant in preparing to assist policyholders in case of late-season events.

8/26/2019 - 2 min read

Getting serious about fighting medical provider fraud

Complex medical bills can make it difficult for adjusters—already overloaded with cases—to find potential fraudulent or excessive billing.

8/5/2019 - 1 min read

2019 August preview: Historical catastrophe activity

For the second straight year, the Atlantic hurricane season had an early start with Subtropical Storm Andrea in May and Hurricane Barry in July, which was a PCS®-designated catastrophe exceeding $25 million in insured losses.

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).

7/8/2019 - 8 min read

Medicaid expansion makes recovery efforts more urgent

Within broad federal requirements, states and territories have significant flexibility in program design and administration, resulting in 56 unique Medicaid programs.

7/2/2019 - 3 min read

Enhance the customer experience by reimagining subrogation

Claims operations have evolved over the past several years, achieving greater efficiency by embracing innovation. But one key area remains an outlier in the trend—subrogation.