CCC Intelligent Solutions (NYSE:CCCS) today reported a 50 percent year-over-year increase in the application of advanced artificial intelligence (AI) for claims processing. The company also reports that more than 9 million unique claims have been processed using a CCC deep learning AI solution, growing more than 80 percent in 2021, and the number of claims […]
Root Insurance Selects Tractable AI To Streamline Claims Operations
Root Insurance will use artificial intelligence (AI) to streamline and accelerate its claims operations using Tractable’s suite of AI solutions. Root will launch the partnership with the AI Subro solution from Tractable to enable Root to assess and respond to subrogation demands more accurately and efficiently. After testing market solutions head-to-head, Root chose Tractable, which […]
LexisNexis Risk Solutions Partners with Shift Technology on Claim Processing Technology
LexisNexis Risk Solutions and Shift Technology announced today the two companies have entered a strategic alliance that will enable insurance carriers to seamlessly incorporate LexisNexis Claims Clarity data and analytics into Shift’s insurance decisioning artificial intelligence (AI) models, allowing carriers to better predict fraud and risk at the first notice of loss. To achieve greater […]
Sfara Releases Mobile-Based, Ultra Low-Speed Crash Detection to Support OEM and Insurer FNOL Repair Experience
After several years of intensive testing in labs, in the field, and through commercial deployment by a major OEM, Sfara is releasing to the general market its ultra low-speed crash detection technology for smartphones. This is important news to industries associated with First Notice of Loss (FNOL), where having near immediate notice of a collision […]
Research Says Digital Insurance Claims Management Languishes
J.D. Power finds sluggish digital innovation as home and auto insurance customers continue reliance on personal channels during claim interaction. Property and casualty (P&C) insurance claims were supposed to be the tip of the sword when it came to digital transformation, but the industry is lagging far behind financial services and utilities providers when it […]
Snapsheet and Socotra Launch Joint Platform Across the Entire Insurance Policy Lifecycle
Snapsheet and Socotra announced a joint platform solution built in the cloud that allows insurers to quickly deliver and scale new products to drive more efficient, digital-first experiences spanning the entire policy lifecycle, from quote to claim. Socotra enables insurers to accelerate product development, reduce maintenance costs, and improve customer experiences. Snapsheet Claims software provides […]
NYCM Insurance Selects Snapsheet Payments Software
Snapsheet announced that NYCM Insurance, a personal lines insurance carrier serving customers in New York State, is tapping Snapsheet Payments software to enable digital payments for customers alongside its existing check option. In addition to digitizing payments, Snapsheet will also facilitate faster communication methods during the payments process, power automated workflows, and offer increased transparency […]
Tractable Launches AI Subrogation Solution for Auto Insurers
Tractable announced the launch of AI Subro, a new solution that will help US auto insurers resolve subrogation tasks with artificial intelligence (AI). AI Subro digitizes and accelerates many of the tasks involved in subrogation – the process by which insurers legally pursue third parties that have caused losses to the insured. At present, subrogation […]
Solera Acquires Australia-Based ENData
Solera Holdings, Inc. announced that it has entered an agreement to acquire ENData Pty Ltd, a Brisbane, Australia-based insurance technology provider. ENData’s data-driven property repairs and contents replacement solutions simplify and automate the fulfillment of insurance claims. This acquisition will further solidify Solera’s position as the leading provider of data and technology-enabled solutions that power […]
LexisNexis Report Shows 60% of Auto Claims Being Handled Virtually One Year After Start of Pandemic
LexisNexis Risk Solutions today released its 2021 Future of Claims Report, revealing how the COVID-19 pandemic has accelerated claims automation. The report includes actionable insights for auto insurance carriers to improve their customer experience and turn virtual claims processing into a competitive advantage. The secret? Offering a hybrid model of self-service claims with access to […]
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