By Kumar Patel, Founder and CEO of Omnidya In an increasingly digital age, the greatest risks to consumers are digital – with data breaches topping the list. Cyberattacks are launched on financial service companies 300 times more than companies in any other sector. In 2017, KPMG reported that at least 81% of healthcare and health […]
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Assistant Vice President/Media Editor Every day more than 130 people in the United States die from drug overdoses (www.drugabuse.gov). The opioid abuse problem is not limited to the abuser and their family. Opioid abuse impacts all of us, with estimated costs to the United States […]
By Joe Chvasta, JD, CPCU Recently, I had the opportunity to compare claims scenarios of an excess of loss proposal with a quota share proposal for the liability coverage of our captive risk association. The results surprised me. Excess of loss is a form of non-proportional reinsurance in which the reinsurer indemnifies the ceding company […]
By Marilyn M. Singleton, M.D., J.D. For the next one and a half years we will have to endure the hyperbole, apocalyptic predictions, fake outrage, half-truths, and frank lies of politicians. Some kind soul should take pity on us and pass out beans to put in our ears. Of course, we should expose ourselves to […]
The Complete Guide to AI in Insurance Fraud Detection
By Kumar Patel, Founder and CEO of Omnidya.
The insurance industry is rapidly evolving. Emerging technologies are breathing new life into daily operations; and artificial intelligence (AI) has the singular potential to pervade every facet of insurance processes with advanced analytics, powerful predictions, and more robust risk management strategies.
By Donald T. DeCarlo, Esq. Stress is commonly cited as the cause of an increasing number of workers compensation claims. What is stress? The word “stress” should be defined and the types of stress claims described before we focus on this workers compensation claims trend. Stress means response behavior that is unique and personal, with […]
By Marilyn M. Singleton, M.D., J.D. June has been a month of reflection on life, death, our values, and the greater good. We commemorated the 75th anniversary of the 1944 Normandy invasion (D-Day), which began the liberation of France from German occupation and turned the tide of World War II. In what must have been […]
How does your credit score affect the price of your car insurance rates? How does that vary by state? Based On A National Analysis Of 61 Million Car Insurance Rates Most consumers know that credit plays a big role in their finances, whether they’re applying for a credit card or considering a car or home […]
By Gregory V. Serio When one thinks of a district attorney from New York City, the scene goes to any one of a number of celebrated crime stories from the City That Never Sleeps: murder, mayhem, and madness, it seems, trump virtually everything else. For anyone who ever tried to gain the attention of prosecutors […]
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Assistant Vice President/Media Editor The sharing economy has a significant impact on many industries, including traditional hotels. A Morgan Stanley report estimated that cannibalization of the hotel industry by such services as Airbnb was about 54% in 2018. Of particular concern is the popularity of […]
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