How the Insurance Industry Can Improve the Reporting Process

December 28, 2019

At a time when every industry is being affected by digital disruption, insurance is facing a sea of change. From new competitors to complex regulatory requirements and the rapid proliferation of data, a myriad of factors is putting pressure on insurers to evolve. Amid this evolution, one part of the business is critical: regulatory compliance and financial reporting.

Spotlight

Westfield Insurance

Westfield Insurance is a part of Westfield Group, a customer-focused insurance and banking group of businesses headquartered in Westfield Center, Ohio, and in business for more than 168 years. Westfield Insurance provides commercial insurance in 21 states, personal insurance in 10 states and surety services to customers in 50 states. Westfield is one of the nation’s 50 largest property and casualty insurance groups, represented by a network of more than 1,000 independent insurance agencies.

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Accelerating transformation in insurance

whitePaper | May 4, 2022

In order to thrive and compete in the digital age, insurers cannot afford to overlook the opportunities that emerge where industry and technology trends meet. If digital had already fundamentally altered the way businesses operate over the past few years, the global pandemic certainly compounded those changes. Where and how we work, the products and services people choose to consume and how, what constitutes a positive customer experience from the significant to the subtle, no element of business is untouched by significant shifts. In many respects the insurance industry has done an excellent job of responding to these challenges—in the short term at least. But merely keeping up is not enough in the long term. In order to thrive and compete in the digital age, insurers cannot afford to overlook the opportunities that emerge where industry and technology trends meet. Seizing these opportunities may mean reprioritizing the transformation agenda, but the rewards will more than justify the means.

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Adjust Your Claims Audits: 5 Common Issues and How to Fix Them

whitePaper | November 12, 2019

A carrier’s quality assurance process is the backbone of its success. While not as well-known as underwriting or claims adjusting, QA is a vital part of insurance operations. QA auditors assess open, denied and paid claims to determine if avoidable errors occurred during processing, adjusting or settlement. Their reviews track performance against business standards and help improve internal operations and claim quality. QA gives employees vital information with teachable

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CYBER INSURANCE 101

whitePaper | January 15, 2020

In this video, learn how a territory manager reviews agency performance in their region and looks at AI-powered performance predictions for leads and flags from a specific agency. Microsoft is helping insurance companies redefine how they do business by empowering them to engage more effectively with agencies, gain insights on agent performance, and leverage AI to improve interactions.

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Doing Business with the FDIC

whitePaper | April 28, 2022

This brochure is designed to assist firms seeking to do business with the Federal Deposit Insurance Corporation (FDIC). It outlines the FDIC’s mission, organization, operational requirements, contracting policies and procedures, and information about the Minority and Women Owned Program (MWOP). It discusses the specific ways a business should go about trying to fulfill our contracting needs.

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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.

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2022 Property Risk Management Report

whitePaper | June 9, 2022

We are pleased to present the results of our second annual survey on property risk management from Archipelago and Advisen Ltd., a Zywave company. The survey took place during the first quarter of 2022 and was distributed to risk managers, insurance buyers and other risk professionals. In total, the survey received 209 responses. The data presented in the report focuses on responses from 187 risk managers who reported having a property portfolio greater than $100 million in total insured value (TIV). We sincerely thank all survey respondents for their valuable time and insights.

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Spotlight

Westfield Insurance

Westfield Insurance is a part of Westfield Group, a customer-focused insurance and banking group of businesses headquartered in Westfield Center, Ohio, and in business for more than 168 years. Westfield Insurance provides commercial insurance in 21 states, personal insurance in 10 states and surety services to customers in 50 states. Westfield is one of the nation’s 50 largest property and casualty insurance groups, represented by a network of more than 1,000 independent insurance agencies.

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