
The primary benefit of an improved claims recovery process is the impact to your bottom line, but a truly great secondary benefit is the positive affect on customer satisfaction. Read Stuart Rose’s post about optimizing your claims recovery process.

Insurance fraud has no doubt existed wherever insurance policies are written, taking different forms to suit the economic times. Today the magnitude of insurance fraud is not only startling but increasing. Recent studies by the National Insurance Crime Bureau reported an 18.3 percent rise in questionable claims for the period 2009 to 2011. What are you doing to win the insurance fraud race?

Stuart Rose, Global Insurance Marketing Manager at SAS, takes a look back at 2011 with an inimical term. He uses annus mirabilis – I’ll let you look it up. For SAS, it describes our year to a tee. Does it describe your year as well?

Today, predictive modeling and forecasting are used by actuaries for pricing, but few insurance companies have applied analytics in real-time or near-real-time operational environment. The “analytical insurer” is using analytics throughout its organization to improve business performance and reduce risk.

They said it would never happen again, but it appears that the Solvency II deadline has been postponed once more. This gives a little breathing room for the whopping 45 percent of insurance companies have not started their Solvency II projects. Does this delay mean that insurers can take a wait-and-see approach?
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