How Insurance Companies Adjust Personal Injury Claims

| July 9, 2019

article image
Insurance companies can play a critical role in personal injury claims. From car accident cases to product liability claims, insurance companies representing the liable party will: Conduct their own investigations. If they determine a claim is valid, they’ll use their own procedures and formulas to come up with an amount for the settlement offer. Here’s how insurers typically determine settlement offers and the factors that can impact them.

Spotlight

Bought By Many

Bought by Many is an award-winning insurtech that is leading the way in creating better insurance products and customer experience. We analyses anonymised search data to identify the problems with existing insurance offers. Our teams then look at how we can improve every aspect of buying cover, from creating unique products that fulfil unmet demand and developing cutting-edge databases to streamlining the user experience and pioneering online claims.

OTHER ARTICLES

INSURTECH AND RISK MANAGEMENT: RESHAPING RISK SCORING AND UNDERWRITING

Article | February 21, 2020

The vibrant combination of insurance services and technical innovation takes a swing at the insurance sector. Let’s look at the current state of the market and how it pushes insurers toward rethinking risk scoring and underwriting procedures. In a global sense, the insurance industry is safe and sound. The sector is growing steadily, showing overall profitability.

Read More

6 insurtech predictions for the 2020s

Article | February 21, 2020

The insurtech movement has been underway for the better part of a decade. Now that we have entered the 2020s, it might be worth exploring what could be on the horizon for insurtech over the next ten years. Insurtech has evolved from its origins in the early part of the last decade (as an offshoot of the FinTech movement) and quickly gained momentum over the last few years to experience a strong close in 2019.

Read More

How is automation changing the way insurance companies work?

Article | March 3, 2020

Job automation has shaped cultures and economies since before the agricultural revolution, throughout industrial revolutions and into the current digital age. The insurance industry is not immune, with automation and innovation continuing to drive the scope for significant change. Traditional automation has been transformative in automating simple, repeatable tasks in back-end processes. Robotic process automation (RPA) combined with artificial intelligence and machine learning capabilities can be, and are being, used to automate high volume and high frequency tasks that have traditionally required human intervention.

Read More

The role of AI in enhancing claims experience for Insurance customers

Article | February 12, 2020

Insurance customers are most vulnerable when they file a claim. Be it life or general insurance, claims are filed in distress. This is also a critical moment for Insurers. The claims experience they deliver determines customer loyalty, which also influences referral customers in the long run. In the Insurance industry, where products and pricing among the competitors are almost the same, customer experience becomes the main differentiator.

Read More

Spotlight

Bought By Many

Bought by Many is an award-winning insurtech that is leading the way in creating better insurance products and customer experience. We analyses anonymised search data to identify the problems with existing insurance offers. Our teams then look at how we can improve every aspect of buying cover, from creating unique products that fulfil unmet demand and developing cutting-edge databases to streamlining the user experience and pioneering online claims.

Events