A potential Game-changer for Insurance claim

June 20, 2018

History of insurance dates back to early human society. Granaries were the earliest form of insurance (riskpooling) which over time adapted by merchants to transport their products on ships. And, in 1968, Lloyds was born in a coffee house. Between 1968 and today, the insurance industry has been working on four fundamental principles of insurance and among them the most prominent is ‘utmost good faith’ or ‘Uberrima fides’. Although the insurance business runs on TRUST, but it has been breached by several times, due to which many insurance companies have paid the fraudulent claims, due to lack of evidences.

Spotlight

EMPLOYERS

EMPLOYERS® focuses on workers’ compensation insurance and services for America’s small businesses. With operations from coast to coast, our goal is to understand and then meet the needs of independent, entrepreneurial companies. With roots stretching back to 1913, EMPLOYERS has the experience, financial stability, knowledge and resources to provide the coverage and specialized services that America’s small businesses need.

OTHER WHITEPAPERS
news image

7 Questions to Ask Before Designing Your Insurance

whitePaper | January 14, 2020

After months of strategy and budget meetings, you’ve got the green light – it’s time to begin building your company’s quality assurance program. But are you prepared for the realities of the creation process? Can you address the inevitable questions and setbacks as they appear?

Read More
news image

LXA — a unique, no-code solution transforming the insurance claims process

whitePaper | December 20, 2022

Traditionally, those specialists working on data analytics and machine learning use cases have a fairly niche skill set. They have an innate aptitude for computer science, statistics, math and so forth.

Read More
news image

Sophos Guide to Cyber Insurance

whitePaper | December 14, 2021

The cyber insurance market is changing fast, and conditions are getting tougher as the market hardens for the first time in its 15-plus year history. While most organizations already have some cyber insurance coverage, many are finding the bar for renewal is getting higher as capacity shrinks – and premiums are going up.

Read More
news image

The Impact of Big Data and Artificial Intelligence (AI) in the Insurance Sector

whitePaper | January 28, 2020

Big data and artificial intelligence (AI) are two words that are widely used when discussing the future of business. The potential for applying them in diverse aspects of business has caught the imagination of many, in particular, how AI could replace humans in the workplace. Big data and AI could customize business processes and decisions better suited to individual needs and expectations, improving the efficiency of processes and decisions.

Read More
news image

Accelerating change in insurance distribution through technology

whitePaper | March 14, 2022

If you want to see the influence that insurtechs are having on how insurance will be sold in the future, look no further than Lloyd’s of London, which has been about as technologically behind as an institution can be. Brit Ltd. announced in May 2020 that, in collaboration with Google, it has created Ki, a new syndicate that will be part of Lloyd’s, that “will aim to significantly reduce the amount of time and effort taken for [commercial] brokers to place their [excess] capacity, creating greater efficiency, responsiveness, and competitiveness.” The Ki platform, which will launch in 2021, will be cloud-based, able to be accessed by brokers directly, and involve algorithms able to evaluate Lloyd’s policies.

Read More
news image

How InsurTech is transforming the insurance industry to address a new era of emerging risks, and improving lives along the way.

whitePaper | December 10, 2019

Insurance, since its inception, has shaped patterns of economic and social growth. It has helped us mitigate the damage of threats and disasters from droughts to car accidents, and has opened new pathways to financial health and stability that would not have been possible without risk management. Insurance is part of all of our lives and, as societies across the globe now grapple with increased risks from climate change to geopolitics, and new trends in consumer demand and technological advancement, insurance is changing.

Read More

Spotlight

EMPLOYERS

EMPLOYERS® focuses on workers’ compensation insurance and services for America’s small businesses. With operations from coast to coast, our goal is to understand and then meet the needs of independent, entrepreneurial companies. With roots stretching back to 1913, EMPLOYERS has the experience, financial stability, knowledge and resources to provide the coverage and specialized services that America’s small businesses need.

Events