While we gather around the table on Thursday, many of us will give thanks for the blessings in our lives. Will workers’ comp be among them? In this edition of Inside Workers’ Comp, we asked industry experts Chikita Mann, Mark
More stories
Mitchell
Article
Reduce Workers Compensation Claims By Using Wearables in The Workplace
According to the Application Resource Center, 1 in 6 Americans currently own a wearable device. While fitness is still the top priority for most wearable owners, when used in the workplace, these devices have the potential to prevent accidents, streamline the recovery process, and ultimately, improve health and financial outcomes for employees, employers and the workers’ compensation industry.
Auto Casualty
Article
Learn About The Auto Casualty Medical Price Index in 2017
The National CPI for All Services, as reported by the Bureau of Labor Statistics in August 2017 is 120.9, which reflects a 1.7 percent decrease since Q1 2017.
Auto Casualty
Article
5 Ways to Use Visual Reporting Effectively to Improve Claim Outcomes
Insurance carriers who aren’t looking at visual performance reports on a regular basis could be missing out on major opportunities to improve their operations and to move toward more standardized and efficient processes.
Mitchell
Article
Average Length of Rental for Repairable Vehicles: Q2 2017
Average Length of Rental (LOR) in the 2nd Quarter 2017 landed at 11.54 days, representing only a fractional rise of .07 days versus the 2nd Quarter of 2016. This is a continuation of the trend we began to see in the 1st Quarter of 2017 when the rate of increase dipped to a multi-year low of .2 days. As with Q1, there was very little consistency between regions and states which suggests that the flat U.S. number is not reflective of a true national trend.
Mitchell
Article
Average Length of Rental for Repairable Vehicles: Q1 2017
The rate of average Length of Rental (LOR) growth declined in Q1 of 2017 for the first time in multiple quarters increasing only a modest .2 days from 11.9 to 12.1. In March, the number was flat, the first month without a year over year increase in more than two years. The data demonstrates very little consistency across and within regions, therefore there doesn’t appear to be a true U.S. trend.
Mitchell
Article
Artificial Intelligence Gets Real: Three Ways AI Is Making Inroads in P&C Insurance Claims
Gartner named AI a top strategic trend for 2017, and according to a recent study by Accenture, 85 percent of insurance executives surveyed plan to invest significantly in artificial intelligence over the next three years. The value of AI applications in insurance is clear—it supports human decision making in a multitude of ways that could streamline the claims process, reduce fraud, and result in the better all-around outcomes for both claimant and insurance company.