3 min read
The Claim Payment Challenge: Simplifying Multi-Party Payments (part 1)
Not only is paper check payment much slower (5-7 days) and more expensive (10x more) than digital payments, but it also...
Not only is paper check payment much slower (5-7 days) and more expensive (10x more) than digital payments, but it also...
In the claims process, speed matters. The 2019 J.D. Power U.S. Auto Claims Satisfaction Study found that customer...
Want to keep your policyholders? Then you better keep them happy. There are almost no second chances. In today’s...
By Patricia Moore on Aug 25, 2020 8:00:00 AM
Insurance is entering a new era. And while the industry has been inching toward modernization over the past decade, the pandemic has amplified the urgent need for insurers to adapt and innovate. In this article, we’ll explore the business continuity strategies some companies are using to persevere in these rapidly changing global conditions.
By Patricia Moore on Jul 13, 2020 6:00:00 AM
Discussions about the coronavirus and workers’ compensation have dominated the industry since the early days of the pandemic. Who is responsible when an employee contracts the coronavirus on the job? How can employers ensure safe working conditions for their remote workers? What can be done to minimize losses in an economy stricken by turmoil?
By Patricia Moore on Jun 29, 2020 6:00:00 AM
Determined to continue serving customers in the face of global crises, many insurance companies have accelerated their technology road-maps, optimizing processes and enhancing communication capabilities to meet the urgent needs of today’s consumers. And as the main touch-point between providers and policyholders, the area of payments has become a primary focus in the industry’s intensified commitment to digital transformation.
By Patricia Moore on May 13, 2020 5:00:00 PM
As the proverbial gold standard for consumer data protection, System and Organization Controls (SOC) reporting provides verification that an organization has passed a rigorous audit and adheres to industry-leading system security and suitability guidelines. Although SOC audits are voluntary, with the recent increase in cyberattacks against insurance companies, this high-value report provides an important layer of validation for insurers choosing third-party vendors who will have access to their sensitive data.
By Patricia Moore on May 8, 2020 8:24:40 AM
This op-ed is a followup to our 12 Insurance Trends for 2020 blog article, originally published in December 2019.
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