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

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

Spotlight

General Insurance Corporation of India (GIC Re)

With more than three decades of experience in the re-insurance business, GIC of India, the Indian Reinsurer caters to the reinsurance needs of the country and also underwrites risks globally. GIC’s support to the Indian market comes in the form of obligatory cessions, company surplus treaties, market surplus treaties, Excess of Loss (XOL) protection to direct writing companies and facultative acceptances. GIC Re is spreading its wings to emerge as an effective reinsurance solutions partner in the world market and is an active partner in many agriculture reinsurance programmed of several insurance companies in SACRC countries, South East Asia, Middle East, Africa and Latin America.

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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.

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Modernizing Insurance Data to Drive Intelligent Decisions

whitePaper | June 16, 2022

Data has always been an important asset in the insurance industry, which is largely built on algorithms and financial models. Today, that is truer than ever before. Data can be analyzed to provide insurers with deeper business insights and the ability to target the right customers through the right channels with the right offerings in the right sequence. It also has opened the door to a growing group of digital natives and insurtechs that bring innovative ideas and solutions to help accelerate and improve the customer journey. Today, the advent of artificial intelligence (AI) is increasing the importance of data across the industry. AI is widely recognized for its potential to bring greater efficiency and innovation to the entire insurance value chain, from customer acquisition to claims processing, and for all stakeholders, including customers, agents and employees. However, effective AI depends on current, accurate and relevant data. AI is key to competitiveness, and data is key to AI.

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What Every CISO Needs to Know About Cyber Insurance

whitePaper | March 2, 2020

Decades ago, a group of merchants created a concept of general average—which is when all parties in a maritime venture share in losses resulting from a sacrifice of cargo in an emergency. What this group fashioned in 1890 was a method for merchants to insure their shipped goods. Upon landing, merchants whose cargo landed safely were expected to contribute a portion to merchants whose goods had been lost at sea. With this, an early form of insurance was born.

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Digital Transformation Myths in Insurance

whitePaper | November 21, 2019

In recent years, the tech world has made a sizeable dent in the insurance world. The launch of technology based start ups, such as Wrisk, Brolly and Cuvva has made bare the fundamental fact that the insurance industry was not really synonymous with technological development. That is changing. Many insurers are now embracing digital transformation as their keystone strategy.

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Lawyers Professional Liability Insurance

whitePaper | December 2, 2019

Professional liability insurance can be an awkward topic for brokers, as it sometimes entails reminding accomplished professionals that they need protection from their mistakes. However, law firms understand the value of specialized expertise – especially when it comes to the coverage afforded by their own Lawyers Professional Liability Insurance.

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Institutional Investors and Corporate Carbon Footprint

whitePaper | December 27, 2021

Climate-aware institutional investors are assumed to affect the transition towards a low carbon economy by exercising their prerogatives as owners of global companies. Investors concerned with climate change can influence investee companies’ carbon footprint by voting at shareholder meetings on climate-related issues and by actively engaging with executives and board members. The authors study to what extent institutional investors’ ownership affected corporate carbon emissions in 68 countries for the period of 2007 to 2018.

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Spotlight

General Insurance Corporation of India (GIC Re)

With more than three decades of experience in the re-insurance business, GIC of India, the Indian Reinsurer caters to the reinsurance needs of the country and also underwrites risks globally. GIC’s support to the Indian market comes in the form of obligatory cessions, company surplus treaties, market surplus treaties, Excess of Loss (XOL) protection to direct writing companies and facultative acceptances. GIC Re is spreading its wings to emerge as an effective reinsurance solutions partner in the world market and is an active partner in many agriculture reinsurance programmed of several insurance companies in SACRC countries, South East Asia, Middle East, Africa and Latin America.

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