Insurance losses are expected to be at least in the hundreds of millions, but it's too early to tell whether the event will exceed the $1 billion in losses of the Bridge Creek-Moore tornado of 1999.
Already used by top ten P&C carriers and reinsurers, the tool has been made generally available to enable customers to create realistic footprints for hurricanes both before and after landfall and to conduct detailed claims analyses using their own loss experience.
Insurers are responding to increased fraud activity with more anti-fraud technology budget, aimed at detecting potentially fraud as early as possible in the claims lifecycle.
As part of his effort to accommodate an IT organization under increasing demand, CIO Mark Clark envisions the creation of an innovation-friendly workspace to foster collaborative work.
By Mitch Wagner, Internet Evolution | May 17, 2013
Security First is using big-data cloud social media analytics software from IBM and partner Integritie to analyze incoming messages sent by email and social media.
Insurers have lots of data, and they are finding new ways to leverage it. High-performance analytics technology is inspiring a whole new set of fraud detection capabilities.
Using advanced regression techniques, CUNA Mutual has developed improved models to target customers in direct business, resulting in better customer satisfaction, increased revenue and reduced cost.
To create an accurate budget you need visibility into a single set of data and the ability to see clear across your organization – regardless of geographic locations, currencies, and other barriers.
Guidewire has characterized the deal as providing the ability to help customers to accelerate replacement of their legacy core systems and to improve management of operational data in their policy, billing, and claims functions.
Among a roster of recent appointments and promotions announced by Selective Insurance were George Neale as SVP, Chief Claims Officer, and John Bresney as SVP, Application Delivery Services.