Welcome to our thirteenth edition of Four For the Week (44TW)! To look through past editions, feel free to view our blog. This week we look back to an article from Q2 last year on claims management technology transformation predictions by 2030, next we imagine you wake up one day in the future with no auto insurance, next up – does the insurance industry provide a recession proof career choice? We close it out this week with the announcement of a webinar focused on insure tech claims technology disruption. Enjoy!
1. Claims 2030: Dream or reality? – A look back at the landscape in Q2 2019
Strategy & Innovation
Claimatic Team
Over the next decade, next-generation capabilities have the potential to completely transform the claims process. Carriers should focus on four areas to unlock value. Insurers are on the cusp of a new era of claims management, one supported by rapid technological advancements that provide unprecedented visibility into the claims process. Every touch point in the claims journey, starting even before an incident occurs, will be supported by a mix of technology and human intervention that seamlessly expedites the process
2. The End of Auto Insurance – Denise Garth
Technology & Preparedness
Claimatic Team
Imagine you wake up one day in the future. The article says accidents are rare or no longer possible due to autonomous technologies, hundreds of new safety features, an entirely new methodology for handling vehicular risk and a dramatic reduction in the personal ownership of vehicles. When claims events do happen, they are covered by the manufacturer or simply paid for out of a reserve created by a globally pervasive mobility corporation
3. By the numbers: Going to work in insurance
Strategy & Innovation
Claimatic Team
Insurance tends to be a stable and reliable career, according to the June 2020 employment report compiled by the U.S. Bureau of Labor Statistics and analyzed in a recent blog post published by the Insurance Information Institute. “It looks like the insurance industry is doing its part to keep the economy running,” wrote Steven Weisbart, the I.I.I.’s chief economist.
4. July 20th – Insure Tech Webinar – Disrupting the Insurance Claims Industry for the Better
Technology & Preparedness
Claimatic Team
Traditional insurance companies and insurtech companies are collaborating more than ever, as insurtech helps traditional insurers to modernize. It is becoming clear how technological trends can reduce operational costs by preventing fraud and automating services, so that insurers are free to acquire and maintain business. Not only are insurtech companies offering better pricing models, they are also using AI to automate its coverage process and customization
