Insights
The Power of Advanced Reporting & Analytics: Highlighting Actionable Insights in the Claims Process
This is the sixth article in a seven-part series that highlights how technology and solution integration can result in improved claim outcomes. Click to read the first, second, third, fourth and fifth articles in the series. Analytics has been a hot topic for a few years now, and for good reason. More than half of analytics leaders reported a correlation between their organization’s analytics initiatives and seeing a “significant improvement” in their competitive standing.
The Future of Humane Automation in Property & Casualty Claims and Collision Repair: Emotion AI
Renowned machine learning researcher and New York Times best-selling author, Kai-fu Lee, has described the era we are living in as “the age of implementation,” or a time period during which artificial intelligence (AI) is moving out of the lab and into practical applications.
Premiums Written: Q4 2019 Casualty Must Read Round-Up
1 MIN READ
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, I’m excited to highlight an article from Rebecca Morgan, senior director of product management at Mitchell, which was published on WorkCompWire. Below I’ve included a link to the article and a list of my other favorite articles and casualty must-reads from this quarter!
Current Used Vehicle Market Conditions: Q3 2019
Average wholesale prices in October were flat relative to September, but remained modestly up on a year-over-year basis. Car prices fell on a monthly and annual basis, while truck-segment prices faired more favorably. Off-lease units showed signs of price softness. On the other hand, October CPO sales were strong, which is supportive of off-lease demand.
Three Workers' Comp Trends & How to Manage Them
In 2019, we have seen a variety of workers’ compensation trends come into even sharper focus, from electronic billing to medical marijuana to the aging workforce. Identifying and effectively managing trends and changes in the workers’ compensation industry can help claims organizations to make continuous operational improvements that can ultimately have a positive effect on their bottom lines and more importantly on positive outcomes for injured employees. Below, we have explored three significant trends affecting the industry today and outlined key tips for effectively managing them.
Three Automotive Claims Market Predictions for 2020
With the end of 2019 rapidly approaching, it is only natural to start thinking about the year ahead. We took a look at our data from the past three years and started to forecast what we expect to see in the year ahead. The wave of complexity in the automotive industry shows no signs of slowing down, and that means additional pressures on claims costs in the coming year. The following are three predictions for what we expect to be in store for the automotive claims industry in 2020.
When Do You Need an MSA?
This article is authored by guest blogger, Deborah Robinson Stewart, National Manager of Medicare Set-Asides, Genex Services. In its simplest form, the Medicare Set-Aside (MSA) is a pool of funding reserved for future accident-related treatment once a workers’ compensation case is settled. However, because of its complex nature, some employers will go the MSA route when there are better options available, or they’ll incorrectly believe a settlement agreement will cover these expenses and decide not to pursue.