Episodit
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Tim Fagan of 1-800 WATER DAMAGE discusses strategies to streamline the claims restoration process and addresses the differences between commercial and residential claims.
The claims restoration process involves many variables, each affecting the speed and cost of claim resolution. As the scope of residential and commercial claims can differ, Tim Fagan, brand president at 1-800 WATER DAMAGE, offers suggestions for improving the restoration process to benefit both insurance carriers and policyholders.
In this podcast, youâll learn:
â How policy differences impact the claims restoration process.
â The importance of urgent response and creative restoration plans for both types of claims.
â How technology is improving the speed and cost-effectiveness of claims closure.
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Through a combination of artificial intelligence (AI) and computer vision models applied to aerial imagery â and delivered through a comprehensive software solution â Nearmap changes the way insurers manage and price property risk. It earned them multiple PropertyCasualty360 Luminaries Awards, including as a company for its risk management innovation and technology innovation.
Individually, Dave Tobias, general manager of Insurance at Nearmap, was named as a risk management innovation Luminary for his leadership in creating the industryâs first comprehensive property intelligence tech stack. It began with his co-founding of Betterview in 2014 to help insurers better manage risk, and over time, this effort evolved into joining forces with Nearmap in 2023.
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Market conditions that are a moving target, talent shortages, and quick advancements in technologies such as AI have created unique challenges for the specialty insurance market. According to Mike Kerner, a member of the board of management at Munich Re responsible for global specialty insurance, while there are challenges in specialty re-insurance, thereâs also room for optimism.
In this podcast, youâll hear:
The value of expertise, stability and partnerships in the specialty market;
What he sees on the horizon for the specialty lines; and
Where exactly his optimism is coming from.
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Fire and smoke events can be one of the more stressful moments for a policyholder. This podcast looks at some key ways to make them whole again.
Fire and smoke incidents create complex challenges and potential delays in the claims process for insurance companies. Bill Gordon, regional business coach at 1-800 WATER DAMAGE, and Tim Singnysane, director of operations at 1-800 WATER DAMAGE, share best practices for improving claims efficiency, identifying hidden damages earlier, and improving customer satisfaction and retention.
In this podcast, youâll learn:
How specialized expertise can prevent claims slowdowns and address hidden damages.
Best practices for capturing accurate damage information and improving claims efficiency.
The benefits of partnering with experienced restoration professionals to support customer satisfaction and retention.
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Ken Davis and Bill Gordon of 1-800 WATER DAMAGE, part of BELFOR Franchise Group, explain strategies to optimize water claims efficiency without increasing costs during high-volume events.
Hurricanes, floods, and other water-related events lead to spikes in claims volumes for insurance companies. As carriers work to efficiently manage the ebb and flow of water claims, Ken Davis, claims partnership manager at BELFOR Franchise Group, and Bill Gordon, regional business coach, at 1-800 WATER DAMAGE discuss best practices for improving claims process efficiency.
In this podcast, youâll learn:
Which key areas can be optimized while keeping insureds satisfied,
How this helps with policyholder retention, and
What can be done about the upcoming generational shift with adjusters.
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In todayâs environment, global financial mandates are evolving quickly to thwart money laundering activities, and because insurance companies are considered financial institutions, they are subject to comply with the changes.
In this episode with LexisNexis Risk Solutions, Bob McConn, the associate vice president for claims solutions, shares his take on the current situation, as well as strategies carriers can employ to work toward compliance.
Youâll also hear:
How the U.S. regulatory landscape is shifting toward targeted sanctions against individuals and organizations. Details on the frequency of watchlist updates. Why carriers need to monitor their customers throughout the customer life cycle. What actions insurers can take to protect themselves and support improved compliance.If carriers put themselves at risk, the damage can be both financial and reputational. Listen now to learn how your organization can keep current with the changes.
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As insurance risk continues to evolve, understanding the use of CBIS has become increasingly important. In this podcast, Gary Sanginario, associate vice president of product management, and Prasanth Kambhatla, associate vice president of data science, both experts at LexisNexis Risk Solutions, take a look at CBIS, including its history and how it continues to benefit both insurers and consumers.
Youâll also hear:
How CBIS helps predict a consumerâs risk and how insurers leverage it to predict future insurance losses. Details about comprehensive studies conducted to address concerns about unfair bias based on race and ethnicity. About the testing framework employed by LexisNexis Risk Solutions, how the framework leverages well-established methodologies, and key takeaways from quantitative testing. -
Rising premium rates, stricter underwriting, and carriers pulling out of states are
creating challenging marketing conditions for independent agents looking to maintain
and grow their book of business.
In this podcast, Michael Streit, general manager at Applied Systemsâ EZLynx company,
discusses the challenges posed by hard insurance markets for independent insurance
agencies and the strategies for navigating difficult conditions.Youâll also hear about:
The drivers of the current hard market conditions, such as inflationary factors,
tighter underwriting, carrier withdrawals from states, and more. Which actions independent agents can take to turn hard market challenges into
opportunities and capture more renewals and new business. How technologies such as retention management tools, customer relationship
management systems, automated workflows, and others can help support agents
in the current market conditions. -
Climate change is a complex issue with far-reaching consequences across various sectors, including the insurance industry. In this podcast, James Handley, director of data science at LexisNexis Risk Solutions, and Heikki Vesanto, data science manager at LexisNexis Risk Solutions, shed light on climate change impacts on the insurance industry â and how policyholders and insureds can prepare.
Youâll also hear:
The factors increasing risk, such as record-breaking temperatures, warmer oceans, social inflation, and more. The areas hardest hit by climate change and potential future impacts. How proactive measures and innovative technologies can facilitate more informed decisions and help mitigate risks associated with climate change. -
Clearspeed's CEO explains how their AI-enabled voice analytics technology is reimagining risk assessment in this exclusive podcast.
A finalist for PropertyCasualty360âs Luminary award, Clearspeed has leveraged its past as a Department of Defense contractor to pioneer innovation in risk assessment technology for the insurance industry.
In this exclusive Meet the Luminaries podcast, Alex Martin, CEO at Clearspeed, explains how its voice-based risk assessment technology provides a âmissing puzzle pieceâ for those executing their leadership strategies.
Youâll also hear:
â How the innovation is revolutionizing risk assessment;
â Why itâs transforming the customer experience, and simultaneously driving down costs and mitigating risk for fraud; and
â What lessons Clearspeed can share with other companies interested in innovation.
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As organizations handle an increasing amount of data, using that data quickly and efficiently isnât always easy. Thatâs why many are turning to AI to help with tasks such as triaging claims and providing adjustors with the right insights at the right moment to support more informed decisions.
Ann Latimer, senior vice president, head of claims operations, at Signal Mutual Indemnity Association, describes how she leveraged Gradient AI to transform their claims triage, and what it takes to get internal buy-in for an AI system.
In this episode, youâll hear:
· Why claims triage was a natural introduction point for the AI solution;
· What challenges Signal Mutual Indemnity has undertaken in adoption; and
· How Lattimerâs team measures success on the platform.
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