Fraud has always been a problem for property and casualty (P&C) insurance carriers, but as the customer journey has evolved, so too has fraud. With consumers more empowered to shop for insurance without involving a live agent, there is more opportunity for an applicant to submit false information about the risk being presented. Without an agent verifying information, carriers sometimes find themselves in a more compromised position when underwriting.
November 5, 2020
On September 24th, 2020, Aite Group hosted P&C insurance industry experts in a webinar roundtable titled “Digital Claims Processing Gains Momentum: Are You on Board?” The panelists were Ernie Bray, CEO of AutoClaims Direct (ACD); Jason Verlen, senior vice president of product management at CCC Information Services Inc.; Bob Skerrett, insurance division CEO of Insurance & Mobility Solutions (IMS); and Josh Thompson, State Auto Insurance vice president of auto and property claims.
June 2, 2020
I recently had the pleasure and the privilege of participating in Insurity’s Connected 2020 virtual conference. This conference was originally supposed to have taken place live in Dallas in late April, but the COVID-19 pandemic forced a change in plans. While the conference location and content delivery method shifted, the core mission of providing useful information for attendees remained the same.
April 28, 2020
Litigation over business insurance claim denial is the proverbial 800-pound gorilla that carriers must address. As of this writing, lawsuits are beginning to proliferate (as Aite Group predicted in COVID-19: Challenges and Opportunities in Financial Services), and most of these lawsuits are centered on the policy limits or exclusions related to business interruption.