claims

Apr
09
2018

It’s raining. You’re late for work. You get in your vehicle. You start the ignition and this appears on your dashboard. Should you a) check the oil, b) the battery, or c) the tire pressure? You would like to be able to take care of the maintenance immediately if you could only figure out what this icon represents….

Who?

Mar
29
2018

Last year (2017) was quite an active year for natural disasters and was a true testament of the impact that insurers make in times of need. While claims continue to roll in, 2017 could be the costliest catastrophe loss year in U.S. history.

Jul
26
2017

In a recent webinar (Reporting and Data Considerations during Guidewire Core Systems Upgrade), we asked our attendees which core legacy system(s) – Claims, Policy, Billing, or None – they hav

Jul
07
2017

Of all the processes inherent to insurance, it could be argued that none are more important than the claims process. The general consensus is that claims typically account for up to 80% of an insurance company’s costs. When it is stated like that, 80% does not seem like an exceptionally large number.

Mar
07
2017

My 4-year old daughter recently participated in a school exercise where she was asked to articulate her dreams and goals for the future when she grows up.  I was fascinated to learn that when she grows up she wants to be a Lego piece.

Jan
19
2017
Jan
16
2017

Data drives the digital age! Insurance carriers are realizing the benefits of the Big Data movement. Data provides a 360-degree view of the customer, feeds reporting and predictive analytics, and drives real-time business decisions. So why isn’t it also driving the strategy for implementing claims applications?

Dec
17
2015

In some corners, critical discussions around core system technology have changed dramatically.  Just a few short years ago it was all about issuing policies and bills faster, settling claims more accurately, reducing error ratios, automating routine processes, and utilizing industry data standard

Dec
10
2015

Big Data is a common buzzword in the business and technology world today. Wikipedia defines Big Data as a broad term for data sets so large or complex that traditional data processing applications are inadequate. The 4 V’s – Volume, Velocity, Variety, and Veracity - characterize big data.

Jun
12
2015

At Guidewire Live, we help our customers to understand their business in context of external data and make better operational and strategic decisions.  Until recently, we assumed that our customers must also be “live” on a Guidewire core system in order to take advantage of these capabilities.  That is changing now that we have released Spotlight

Jun
08
2015

Fraud occurs when someone knowingly lies to obtain some benefit to which they are not otherwise entitled to or someone knowingly denies some benefit that is due and to which someone is entitled. Insurance fraud occurs on both the claims and underwriting side, but we will limit the focus of this post to claims fraud. Claims fraud can be broken into two categories – “Soft Fraud” and “Hard Fraud”. Soft Fraud is used to define unwanted opportunistic behavior of normally honest people.

Jan
27
2015

One year ago, I told you a story about a VP of Claims who staffed up to improve her subrogation collections on personal auto claims, and I mentioned that we would continue supplying her with updates on 

Aug
04
2014

I am often inspired by the passion that claims people have to deliver for their customers. This is most apparent when an insured has had a loss that really disrupts their life and that of their family’s. Here is a video from CAA that talks about how they responded to one of the most catastrophic storms in Canadian history. This video and all videos produced by Guidewire use our customers’ own words and stories. We never provide scripts for people to follow.

Feb
21
2014

The ability to handle claims is important. In fact, for many it is probably the most important function of an insurer – at least from an individual policyholder’s perspective. However, policyholders, and insurers, are hoping that losses can be avoided and that function wouldn’t be necessary. Ever. So for most people, who do not understand the risk transfer benefits of insurance, it is perceived as an expense to be minimized.

Mar
13
2013

As in “I love loss development triangles!” (Wait, what were you thinking?) I love them so much I made a couple hundred thousand of them*.

Jul
03
2012

Last week, I had the good fortune of attending the ACE (America’s Claims Event) conference in Las Vegas. It was an energizing week for me, and I was particularly inspired to see so many of Guidewire’s customers in speaking roles at the conference. As you might expect with a claims conference, there were many complex issues discussed throughout the week. However, one theme that I heard consistently reinforced was quite simple.