Five Questions with Assured Research President William Wilt on What’s Trending in Auto and Workers’ Comp Today
We sat down with William Wilt, president of P&C industry research firm Assured Research, to explore what’s trending in the auto casualty and workers’ compensation industry today.
The Power of an Optimized Workflow: Automation, Customization and Solution Integration
6 MIN READ
This is the fifth article in a seven-part series that highlights how technology and solution integration can result in improved claim outcomes. Claims automation can provide many benefits to the insurance industry. For example, implementing claims automation could free up 54 million to 285 million adjuster hours annually, amounting to $1.7 billion to $8.9 billion in cost savings within five to seven years, according to Deloitte.
Auto Casualty Glossary of Terms and Definitions
1 MIN READ
The auto casualty industry and pharmacy benefit management can be complex. Looking to learn more? Download our Auto Casualty Glossary of Terms to increase your knowledge of common industry terms such as fee schedule and peer review.
Why Your Bodily Injury Adjusters Are Overloaded with Work, Hint: You Might Be Asking Them to Focus on the Wrong Things
Workload is the number one cause of stress in the workplace, when compared with other factors including people issues, work-life balance and lack of job security, according to Statista. Overworked employees can lead to stress and burnout, which ultimately has a negative effect on an organization’s bottom line, since it can lead to a decrease in productivity, more potential for mistakes and higher turnover rates.
Ineffective Liability and Injury Assessment: Causes and Effects
The cost of automobile accidents has risen significantly over the past few years. From 2015 to 2017, bodily injury loss costs increased by 12.4 percent, property damage by 11.4 percent and personal injury protection by 6.4 percent, according to the Insurance Information Institute. In comparison, consumer prices rose 3.4 percent overall over that same time range.
Changing Workforce: What to Do Now Before Your Best Bodily Injury Claims Adjuster Retires
4 MIN READ
Preparing for retirement typically means contributing to a 401K, figuring out your cost of living and deciding what you’re going to do with your time once you aren’t occupied 40 hours per week. But for insurance companies, preparing for retirement has taken on a whole new meaning.
The Power of Streamlined IT Investment: Simplifying Claims Technology Implementation
4 MIN READ
This is the fourth 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 and third articles in the series. In the past decade or so, the world has undergone tremendous technological transformation. For example, in 2008, only 139 million smartphones were sold, compared to 1.56 billion in 2018, according to Statista.
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