BLOGS

The emergence of the COVID-19 pandemic in 2020 drastically changed how people live and work. Digital experiences and channels became more important than ever. Businesses and financial institutions had to catch up by ensuring they offered digital transaction and delivery capabilities. But in addition to positive developments in these areas, organized crime rings prospered by exploiting new...

The frequency of customer interactions in personal lines has made these insurers fast adopters of technology, both to drive customer experience and to improve their own efficiency and profitability. While it is ahead of other sectors, COVID-19 has led to dramatic changes in personal lines, necessitating a revisit of current practices. Distribution Trends Integrating point-of-sale systems...

Insurers of all types and sizes have invested in digital claims and fraud analytics capabilities in recent years. These investments reflect the importance of digital processes for modern insurers. It is a trend that’s likely to continue as COVID-19 drives digitization and process improvements. Claims capabilities often have gaps between property/casualty and life/annuity insurers, which...

Fraud is an ever-present threat to insurance companies. Most estimates place the impact of fraud at 10% of premiums, and that leads to billions of dollars in losses every year. Every time we think we are starting to catch up to the latest fraud efforts, new schemes pop up to take advantage of our industry. The real problem is that most traditional fraud detection methods happen after the payment...