Managing Third Party Auto Claim Trends During COVID-19
Fewer cars on the road, increasing accident severity, an uncertain economy—these are just a few of the unprecedented challenges the auto insurance industry has faced in 2020. Now, third party liability insurers are seeking the best method to adapt to this ever-changing situation. Let’s take a closer look at some of the trends the third party market has experienced in 2020 and the potential changes you can make in your claims workflow today to better manage in the current environment.
Silver Linings in 2020 [Video]
Watch Alex share some silver linings from 2020, with recommendations on how to leverage this year’s positive trends to help you find greater success.
Success Story: New AI Model Helps CCMSI Seal the Cracks in the Claims Cycle
6 MIN READ
Download a PDF Version of this Article CCMSI, a large boutique third party administrator (TPA), has been providing innovative risk management solutions to thousands of companies for more than 40 years. As artificial intelligence (AI) began emerging, CCMSI was early to adopt, and over the last several years, they developed an AI-driven intervention model that has been implemented with tremendous success. This new model had a simple goal: Use AI to flag at-risk claims for adjusters and ensure nothing falls through the cracks throughout the claims process.
2021 Regulatory Predictions for Auto Casualty and Workers’ Comp [Podcast]
On-Demand
In 2020, the workers' compensation and auto casualty regulatory environment was more active than ever—since the start of the COVID-19 pandemic, U.S.
New York No-Fault Fee Schedule: What You Need to Know
In October, New York will implement major changes to its fee schedule for auto casualty no-fault claims, which includes increased rates and significant changes to specific ground rules stating that providers may not bill outside of their section of the fee schedule. Find out what you need to know now to comply and what impact it may have for insurers and medical providers operating in the state of New York.
What You Need to Know About Extended Reality
5 MIN READ
The concept of Extended Reality (XR) conjures up images of virtual computer worlds built as an escape from everything around us. Considering what 2020 has been like so far, that might seem pretty attractive, but extended reality provides us so much more than just an escape. It can be a teacher, tour guide, trainer or an assistant. XR is an umbrella term that encompasses both augmented and virtual reality. It’s rapidly moving out of the hands of gamers and into the world at large.
The Insurance Workforce: How to Maintain Knowledge & Set New Employees up for Success
For the past few years, the insurance industry has become increasingly concerned that many of its most experienced adjusters are thinking about retirement. As many of our most veteran employees are getting ready to walk out the door, the industry needs to not only find a way to retain all of their invaluable expertise, but also make changes to attract, train and retain more young workers to take their place. The COVID-19 pandemic has only sped up the need for the industry to adapt. Let’s take a closer look at three main factors affecting today’s insurance industry workforce.