According to Investopedia, Commercial Car Liability Insurance is part of a car insurance policy. It provides financial protection to a driver who harms someone else or their property while operating a vehicle. Commercial car insurance is like personal car insurance in many ways. The difference is that Commercial insurance is designed specifically for vehicles that are used by or for a business. Commercial car insurance offers both liability coverage and collision coverage for business vehicles and theirRead more
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Starting from the top, insurance claim management is a term used to describe the process that takes place once a claim is filed. It involves guiding the insured from point A (claim) to point B (resolution) whether that includes payment, or if the claim is approved or denied. Process is everything when it comes to managingRead more
What is Commercial General Liability? What happens when someone is shopping at the supermarket and a display of soda cans collapses on them?. In a case like this, commercial general liability provides coverage to the grocery store for bodily injury, personal injury, and property damage. 1. Does commercial general liability cover everything surrounding my business? Although it is considered “comprehensive,” not all risksRead more
Implementing technology in insurance claims can automate the process, leaving you with more time and improve the overall claims process. We’re breaking down the top five ways that insurance claims automation can help your business, and how claims management creates a powerful feedback loop that can automate claim processing. 1. Prevent Insurance Fraud There areRead more
Six tricks to prevent fraud Through this series on how to prevent insurance fraud, we’ve gone over what fraud is, and how can technology help prevent fraud. This is the last entry. It’s time to take action to prevent insurance fraud. Read on for our 6 tips to stop fraud in its tracks. 1. Automate ThroughRead more
An Insurance Industry Debate “The insurance industry needs to increase transparency and rebuild trust” is the name of a speech given by Richard Harding at the Insurance Council of New Zealand Conference of Tower Insurance. According to his conclusion’s, and the best way for a company to rebuild trust is “with a culture of transparency.” Something very important that has beenRead more
6 of the most common claims around Christmas Christmas is fun and a jolly time when people have their hopes up for the upcoming year. Yet, did you know that December is one of the busiest months of the year for theft, accidents and fires claims? Here are some of the most common claims that come up after Christmas celebrations. CrackedRead more
This is the second entry in our series on Insurance Fraud. In our last post we covered what insurance fraud is. In this entry you will learn the benefits of using smart systems to prevent fraud. How can Smart Systems prevent fraud? The Coalition Against Insurance Fraud summarizes the relation between artificial intelligence and insuranceRead more
What is insurance fraud? Insurance Fraud has proven to be a big problem in the insurance industry. In our series on insurance fraud we will explore “Insurance Fraud, how it’s Defined & 7 Common Types of Fraud“, “How can Smart Systems help you prevent fraud” and finally we will give you five tricks to preventRead more
To reduce costs in workers’ compensation used to be tricky. Not only because it must obey the law of each state (leading to cost variation), but because it can get really expensive if not carefully planned. So, we’re going to try to share a couple of important points to keep in mind. These will helpRead more
