How Insurers Can Save Millions by Minimizing Claims Handling Mistakes

A totaled vehicle accruing storage costs in a tow yard. Medical bills or demands pending review. An undetected coverage issue arising due to ride-share. A claimant who hasn’t been contacted in over two months. These are all examples of typical claims handling mistakes made by adjusters while handling insurance claims. While the resulting losses are […]

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To Make the Case for BPaaS, Point to Sustainable Survival (Part 3)

Healthcare business leaders need fresh strategies for thriving as the industry evolves to value-based reimbursement models, “care anywhere” and individualized health experiences. As explained in Part 1 and Part 2 in this series, BPaaS offers payers powerful tools for competing in the digital health ecosystem while reducing total cost of ownership. In achieving these goals, […]

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Differentiate Your Brand with Empathy: What Insurance Marketers Need to Know

As insurers navigate the COVID-19 landscape, they’re taking aim at a kinder, gentler customer experience. The result is a new focus on empathy – and online channels are shaping up as the key platform for delivering it. It may sound counter-intuitive to convey empathy through digital channels, especially in insurance: an industry known for complex […]

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Insurers, If You Don’t Have an AI Strategy, You’re Already Behind

When it comes to AI adoption, many insurers have lagged behind their counterparts in other industries. But waiting is not a sustainable AI strategy. Insurtechs are adept at using natural language processing, machine learning (ML), deep learning and other AI technologies. These upstarts are leveraging AI to introduce a new range of innovative products, such […]

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Can Digital Innovation Impact Insurance Ratings?

The clock is ticking for the insurance industry. In May, the comment period ended for providing feedback on a new procedure for scoring and assessing insurers’ innovation capabilities. According to AM Best – the rating agency creating the scoring mechanism – innovation is becoming increasingly critical to the long-term success of all insurers, especially with […]

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Shining a Light on Insurers’ Digital Capabilities

Every insurance executive I meet with recognizes the importance of digital to their ongoing business success, and most are full-speed ahead on programs to upgrade their digital business capabilities. But if I asked 10 executives to define what they mean by “digital,” I’d get 10 different answers. As a result, insurers may be investing in […]

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What CCPA Means for Insurers

Because insurance is a highly regulated, state-specific industry, insurers already have much of the structural underpinnings in place required by the California Consumer Privacy Act (CCPA). Yet the new legislation is disruptive to insurers for two distinct reasons. One is that it requires carriers to know precisely where their data goes – a detail not […]

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