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Home Search results for "claims management" (Page 5)
Indemnity and Insurance

What are the Differences Between Indemnity and Insurance?

By Terra | Blog Posts | 0 comment | 21 May, 2021 |

While both indemnity and insurance are ways to manage risk and avoid financial losses, what makes them different is the way they undertake risk. This article is going to focus on how indemnity and insurance work together for risk management. What is Indemnity? According to Investopedia “Indemnity is a comprehensive form of insurance compensation for damages or loss. When the term indemnity is used in theRead more

Captive Insurance as a construction

What is Captive Insurance?

By Terra | Blog Posts | 0 comment | 17 May, 2021 |

Captive Insurance is another way to protect your organization against financial risk. With Captive Insurance, the ‘insurance company’ that provides coverage is owned by the insured. That means that the insurer who owns the risk, also owns the insurance company who does the captive coverage.  This Insurance Company -created to create the captive insurance policy- is subjected to the same regulations as any other insurance company and needs to have CapitalRead more

Improvements and Betterments

What is Improvements and Betterments Insurance?

By Terra | Blog Posts | 0 comment | 14 May, 2021 |

What is improvements and betterments insurance? “Improvements and Betterments refers to upgrades done by a business owner to a property that is rented from a landlord. According to IRMI, the International Risk Management Insitute improvements and betterments are “permanent additions or changes made to a building by a lessee at his or her own expense that may not legally be removed.”   These improvements andRead more

Five technology trends in insurance

Five technology trends in insurance shaping the industry

By Terra | Blog Posts | 2 comments | 26 April, 2021 |

The insurance industry has been undergoing changes in the 21st century. Along with a majority of other industries in products and services, it had to adapt to a new landscape: a digital world, with a digital cloud over it, oceans of data, and an increased reliance on what can be done remotely.    The digital landscape is where insurers struggle while others are able to thrive. That is the reasonRead more

Group of people saving money, representing the reinsurance process

What is Reinsurance? A Matter of Protection

By Terra | Blog Posts | 1 comment | 12 April, 2021 |

Reinsurance is defined as insurance for insurers. It works by insurers transferring portions of their risk portfolios to other insurers in some form of agreement.  The insurer that “buys” risk, or that “reinsures” an insurance policy is known as the “ceding” party. The party that accepts that part of the risk is the reinsurer.   The Insitute of Insurance Information cites the Reinsurance Association of AmericaRead more

A family with an umbrella symbolizing self insurance

Self-insurance: The Do-It-Yourself Kind of Protection

By Terra | Blog Posts | 0 comment | 30 March, 2021 |

What is Self-Insurance? According to Investopedia, “Self-insurance is a risk management technique in which a company or individual sets aside a pool of money to be used to remedy an unexpected loss.”  Self-insurance can be summed up as the decision to retain risk. For example, it means that if your house burns down you must pay for everything, rather than the insurance company, since you own yourRead more

Social Inflation

Social Inflation in the Insurance Industry

By Terra | Blog Posts | 0 comment | 22 March, 2021 |

Social Inflation has factors that can influence it to be higher or lower at various times, but the fact is that it exists and its effects are being felt across the insurance industry. Let us start by clarifying what Social Inflation is.  No matter the type of insurance you specialize in or the offers your company has available, you have probably heard the term ‘social inflation.’ Although many do notRead more

Cyber Insurance Coverage

Cyber insurance part 2: How much does cyber insurance cost?

By Terra | Blog Posts | 2 comments | 4 March, 2021 |

As discussed in part 1, cyber insurance can protect your business against cyberattacks. In the second part of the series, the focus will be on how costs are calculated in cyber insurance.   How to Calculate the Cost of Cyber Insurance  A study performed by AdvisorSmith Solution Inc  found that the average cost of a cyber liability policy in 2020 was around $1,500 perRead more

Cyber Insurance Protection

What is Cyber Insurance and why it matters?

By Terra | Blog Posts | 3 comments | 23 February, 2021 |

What is Cyber Insurance? Navigating through the internet should be a seamless experience. The world wide web has the capacity to nourish us all with knowledge, goods, and culture. Sadly, much like the real world, it is not necessarily peaceful all the time. Rather, the internet is filled with dangers. Specially if you work in health, finance, insurance, or any other industry that relies on data and the protection ofRead more

Animal Collision

Car Liability Insurance and Animal Damage

By Terra | Blog Posts | 4 comments | 19 February, 2021 |

  Animal collision on vehicles is often a subject of questions since most people don’t have a clear understanding of how it works. Animal collision will be the focus of this article as well as the dangers, the precautions and the actions to take to ensure protection.   Driving in the outskirts of any city can be relaxing. The airRead more

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  • Solutions
    • Claims Management
    • Policy Administration
    • Claims Benchmark
    • Connect Marketplace
    • Compliance Management
  • Who We Serve
    • Third-Party Administrators
    • Carriers
    • SIFs and SIGs
    • Captives
    • Managing General Agents
    • Medical Services Providers
  • Blog
  • Request A Demo
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