Tag Archives: insurers

Claims recovery optimization

Stuart Rose

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.

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Drawing the line between fraud and abuse in PIP claims

James Ruotolo, Insurance Fraud, SAS

The IRC has identified expensive diagnostic procedures as “major drivers of overall medical costs in auto injury claims.” These drivers can help fuel medical mill scams and make it difficult to differentiate between suspected fraud and suspected medical billing abuse. Scams such as these are putting pressure on legitimate providers to remain competitive. James Ruotolo has some advice for insurers and medical providers.

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Solvency II deadline extension

Solvency II, a ticking bomb?

The recent proposal to extend the deadline for Solvency II compliance by one year reflects the finding of a report by the Financial Services Authority that many insurers are not ready to meet the standards. This extension can be veiwed as an opportunity to knuckle down – if you have the correct tips and tools. Here is some advice and a link to a white paper identifying six key challenges that must be addressed to meet Solvency II standards.

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Insurers tackle thorny issues in fraud detection and prevention

Insurance Fraud Panel PBLS

The Insurance Information Institute estimates that 10 percent of all property and casualty claims are fraudulent. Investigating suspicious claims after they are paid makes it so much harder for insurers to stop the fraudsters. In this post, Rachel Alt-Simmons reports on a panel discussion between Allstate and CNA, insurers that are now using data-driven decision making to detect and prevent fraud.

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Optimizing claims recovery

Stuart Rose

One way to reduce claims expenses is through claims recovery, unfortunately opportunities for claims recovery are often missed. Find out how you can minimize the number of missed recovery cases so you can increase efficiency and reduce loss expenses.

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Predictive analytics: Top five data excuses in insurance fraud detection

Basel III discussions

Given the increase in fraudulent claims, it is imperative for insurance companies to leverage technology as a key enabler to combat crime-ring-based fraud. Read this article to learn why predictive analysis is important for insurance fraud protection.

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The Dodd-Frank Act and insurers

Stuart Rose

It will be many years before the Dodd-Frank Act has been deemed a success or just another compliance burden. Read about the role of the Federal Insurance Office and its potential for streamlining rules and regulations for insurers.

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The operational risk dilemma: Prevent the fire

Rachel Alt-Simmons

Events of the past decade have highlighted insurers’ need to evaluate the impact of operational risks. Rachel Alt-Simmons gives examples of insurers that have not adequately protected themselves from disaster or loss. Read what you can do.

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