Insurance Coverage for Personal and Advertising Injury

In an increasingly cost-competitive industry, digital technologies are providing today’s insurance carriers with new methods of distinguishing themselves from competitors. Of particular focus is the claims process. As insurance’s ‘moment of truth’, policy-holders’ experiences when making a claim can define whether they become satisfied and loyal customers for life or disgruntled, and unlikely to return. With the majority of insurance executives believing that customer experience will see the biggest impact from technologies like AI, machine learning and advanced analytics, it is no surprise, therefore, that claims should take a special focus.

The significance of the new Restatement on the insurance industry is in dispute. Historically, Restatements published by the ALI have had an enormous influence on binding legal decisions. The U.S. Supreme Court cited ALI publications 71 times during the 2013 to 2015 terms of Court, and state and federal courts have cited ALI publications over 200,000 times. Several courts cited the Restatement of the Law of Liability Insurance even before the ALI formally voted to adopt it. Since adoption, the number of citations to, and courts' reliance on, the Restatement has accelerated.

Let’s face it: health care is confusing. From HDHPs to deductibles and OOPs, choosing the right health benefits can be a difficult and stressful process. Research shows that workers with low health literacy don’t take advantage of preventative services, fail to manage chronic conditions and are more likely to take medicines incorrectly. All of these factors contribute to an unhealthy workforce and higher costs for everyone involved.

The Verisk ecosystem of small commercial insurance solutions provides a wide range of customizable options designed to help you improve efficiency and accelerate profitable growth.