Claims

The application of advanced analytics is already well ingrained in underwriting. It has only more recently begun to exert more influence in claims operations.

ITL FOCUS is a monthly initiative featuring topics related to innovation in risk management and insurance.

This month's focus is Claims

To see what 2023 holds in store, ITL Editor-in-Chief Paul Carroll talked with Andy Cohen, president and chief operating officer at Snapsheet, an innovator in claims management.

"Digital coworkers" can address the staffing shortages that claims departments face, while covering for inadequacies in technology and processes.

50% of small business owners trust their carriers more than they did pre-pandemic. That number jumps to 80% when the business owner has filed a claim.

Fraud accounted for $6 billion in losses to insurers and government agencies after Hurricane Katrina, but AI-based verification has come a long way since 2005.

Insurers need to find a way to speed up claims — and fortunately, advanced computer vision can provide insurers with the means to do just that.

No one is happy with the current, cumbersome approach to auto claims -- and a key technology has finally arrived that will digitize and speed the whole process.