Insurance

Claims are often treated as the part of insurance that begins after a policy has already been sold. In reality, claims service can have a much bigger influence on the economics of the business. Claims are one of the...

Insurance fraud has always been a major claims challenge, but the economics of detecting it are changing quickly. Insurers are dealing with large volumes of claims, increasingly complex evidence and fraud schemes that can be difficult to distinguish from...

Insurance claims work has always depended on experience. Complex coverage decisions, difficult negotiations, large losses and unusual claims often require judgement that is built over years, not learned from a manual. That experience is now becoming harder to replace...

Litigation is no longer funded only by the people and businesses bringing a case. A growing market of third-party capital is financing legal disputes in exchange for a share of any eventual recovery. That money can help claimants pursue...

Artificial intelligence is becoming a more common part of insurance claims, from document processing and fraud detection to damage assessment and claims triage. But as insurers move these systems into more important parts of the claims process, regulators are...

Natural catastrophes are no longer creating occasional spikes in insurance losses. They are becoming a more persistent part of the claims environment, with insurers dealing with frequent storms, wildfires, floods and other events alongside the possibility of much larger...

Claims have traditionally been used to understand what happened after an insured event. A loss was reported, investigated, settled and eventually recorded as part of the insurer’s claims history. That information then fed into reserving and performance analysis. But...