Three Ways Technology Is Changing the Nature of the Property & Casualty Industry
The insurance industry is always changing, but continuous technological advancements have the pace of change occurring faster than ever before. Property & Casualty (P&C) market insiders are experiencing companies of all sizes undertaking major digital initiatives to add efficiencies and increase economies of scale.
The Power of Technology: Six Ways to Improve Casualty Claim Outcomes
Though the Property & Casualty (P&C) industry has made definitive inroads into technology adoption, there remain vast opportunities for the sector to reap the benefits of technology to achieve better, faster results. Insurers and claim organizations at large still have a big opportunity to digitize their operations to improve casualty claim outcomes––incumbent insurance carriers could more than double their profits over a five-year period by digitizing their current business operations, according to a McKinsey report.
Premiums Written: Q1 2019 Casualty Must-Reads
This quarter, we were featured in PropertyCasualty360 where Executive Vice President and General Manager Nina Smith explained how technology and automation can actually help to further humanize the claims process by freeing up employee’s time to focus on the claimant.
Cobotics, a New Type of Man-Machine Collaboration
The robot revolution is well underway, and far from science fiction narratives where malicious robot overlords render people obsolete, robots are here to do something surprisingly human: collaborate. Cobots, short for collaborative robots, share another human trait: with the help of artificial intelligence, they can learn on the job.
Five Inevitable Technologies That Will Transform the Claims Process
The other day while FaceTiming with my daughter who is away at college, I was reminiscing about my own time away at college. While I was at school, I wrote hand-written letters back home every week to keep in touch with my family. I called home every other week, but rationed my time on the phone since I was paying long distance phone charges.
Premiums Written: Q4 2018 Casualty Must-Reads
Each quarter, I round up and highlight some of my favorite articles written by Mitchell experts and let you know where we have been published outside of our mPower thought leadership website. This quarter, we were featured in PropertyCasualty360 where Executive Vice President and General Manager Nina Smith explained how data and technology can help improve claims decision making and outcomes.
The Power of Integration and Automation: Humanizing the Claims Process
Getting injured on the job or in an auto accident can have a significant impact on a person’s life. Going through the process of filing a claim and getting treatment can make it even more complicated. In fact, a 2018 study found that one in seven survey respondents said it took longer than expected to settle their Property & Casualty (P&C) claim, with delays adding to their burden.
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