Getting it right: Why is claims satisfaction so high?

An insurance declare comes at a traumatic time in a buyer’s life, typically making it a damaging expertise. No less than, that’s what you would possibly assume. That’s why I used to be stunned when our newest analysis report, Why AI in Insurance coverage Claims and Underwriting,   Velocity of settlement drives claims satisfaction in insurance … Read more

Resilience inspires optimism in the insurance industry

Regardless of persevering with market volatility and uncertainty, we’re essentially optimistic about the way forward for the insurance coverage business, which has demonstrated resilience by means of the pandemic and within the face of inflation, losses, and reserve capital requirement headwinds.  As COVID-19 turned a worldwide pandemic in March 2020, the ensuing financial slowdown precipitated … Read more

How to address the urgent insurance workforce gap with technology

The insurance coverage business is experiencing a rising expertise scarcity. Whereas this problem has been anticipated, a lot of the dialogue on options is usually generalized to your complete workforce. However not each job will probably be impacted in the identical approach. As insurers develop, some capabilities will want extra help, whereas others will probably … Read more

Bringing insurance industry innovation to AWS re:Invent

A yr in the past at re:Invent, Accenture and AWS introduced a joint funding to speed up cloud migration and {industry} differentiation for our purchasers. Growing demand in business underwriting made insurance coverage the apparent {industry} to blaze the path. At AWS re:Invent 2024, Anand Premsundar and I’ll speak about how innovation transforms experiences, processes, … Read more

Insurance News: Counting the insurance costs from the 2024 hurricane season

Insurers and their prospects in Florida might really feel some aid with the top of this yr’s hurricane season. However restoration from the injury left by Ian and Nicole is simply starting. And so are the questions on how the insurance coverage trade will reply. On this month’s Insurance coverage Information Evaluation, Abbey Compton and … Read more

Insurance News: Generative AI experience, efficiency and risk

Each day we see headlines about generative AI. For the insurance coverage trade, this know-how presents acceleration in lots of areas by which AI-led transformation is already underway. However, like every rising know-how, it additionally introduces new areas of threat. On this Insurance coverage Information Evaluation, Abbey Compton and I are joined by Daria Lee … Read more

Insurance News: The heat is on—from climate change to claims

From catastrophic occasions linked to local weather change to social unrest, the insurance coverage trade is seeing huge claims. Whereas some dangers are extra simply predicted than others, new knowledge sources might assist insurers and prospects discover methods to show down the warmth. On this Insurance coverage Information Evaluation, Abbey Compton and I speak about … Read more

Insurance News: When states are the insurers of last resort

The insurance coverage business and public sector each play a essential function in serving to to mitigate danger for patrons and constituents. However, as prices to insure property and long-term care within the U.S. rise, states more and more turn into the insurers of final resort. On this Insurance coverage Information Evaluation, we give attention … Read more

New strategies for P&C claims litigation management

In line with AM Finest Monetary studies, between 2018 and 2024, litigation administration prices for the mixed Property & Casualty business elevated by 19%, amounting to a rise of $4-5 billion, or for context, bringing whole litigation bills to ~$24B of LAE. In each private and business traces, carriers have skilled the hostile results of … Read more