Tim Fagan of 1-800 WATER DAMAGE discusses strategies to streamline the claims restoration process and addresses the differences between commercial and residential claims. The claims restoration process involves many variables, each affecting the speed and cost of claim resolution. As the scope of residential and commercial claims can differ, Tim Fagan, brand president at 1-800 WATER DAMAGE, offers suggestions for improving the restoration process to benefit both insurance carriers and...

Through a combination of artificial intelligence (AI) and computer vision models applied to aerial imagery – and delivered through a comprehensive software solution – Nearmap changes the way insurers manage and price property risk. It earned them multiple PropertyCasualty360 Luminaries Awards, including as a company for its risk management innovation and technology innovation.  Individually, Dave Tobias, general manager of Insurance at Nearmap, was named as a risk management innovation...

Market conditions that are a moving target, talent shortages, and quick advancements in technologies such as AI have created unique challenges for the specialty insurance market. According to Mike Kerner, a member of the board of management at Munich Re responsible for global specialty insurance, while there are challenges in specialty re-insurance, there’s also room for optimism.  In this podcast, you’ll hear: The value of expertise, stability and partnerships in the specialty market;  ...

Fire and smoke events can be one of the more stressful moments for a policyholder. This podcast looks at some key ways to make them whole again. Fire and smoke incidents create complex challenges and potential delays in the claims process for insurance companies. Bill Gordon, regional business coach at 1-800 WATER DAMAGE, and Tim Singnysane, director of operations at 1-800 WATER DAMAGE, share best practices for improving claims efficiency, identifying hidden damages earlier, and improving...

Ken Davis and Bill Gordon of 1-800 WATER DAMAGE, part of BELFOR Franchise Group, explain strategies to optimize water claims efficiency without increasing costs during high-volume events. Hurricanes, floods, and other water-related events lead to spikes in claims volumes for insurance companies. As carriers work to efficiently manage the ebb and flow of water claims, Ken Davis, claims partnership manager at BELFOR Franchise Group, and Bill Gordon, regional business coach, at 1-800 WATER...

In today’s environment, global financial mandates are evolving quickly to thwart money laundering activities, and because insurance companies are considered financial institutions, they are subject to comply with the changes. In this episode with LexisNexis Risk Solutions, Bob McConn, the associate vice president for claims solutions, shares his take on the current situation, as well as strategies carriers can employ to work toward compliance. You’ll also hear: How the U.S. regulatory...

As insurance risk continues to evolve, understanding the use of CBIS has become increasingly important. In this podcast, Gary Sanginario, associate vice president of product management, and Prasanth Kambhatla, associate vice president of data science, both experts at LexisNexis Risk Solutions, take a look at CBIS, including its history and how it continues to benefit both insurers and consumers. You’ll also hear: How CBIS helps predict a consumer’s risk and how insurers leverage it to...

Rising premium rates, stricter underwriting, and carriers pulling out of states are creating challenging marketing conditions for independent agents looking to maintain and grow their book of business. In this podcast, Michael Streit, general manager at Applied Systems’ EZLynx company, discusses the challenges posed by hard insurance markets for independent insurance agencies and the strategies for navigating difficult conditions. You’ll also hear about: The drivers of the current...

Clearspeed's CEO explains how their AI-enabled voice analytics      technology is reimagining risk assessment in this exclusive podcast. A finalist for PropertyCasualty360’s Luminary award, Clearspeed has leveraged its past as a Department of Defense       contractor to pioneer innovation in risk assessment technology for the insurance industry. In this exclusive Meet the Luminaries podcast, Alex Martin, CEO at Clearspeed, explains how its voice-based risk      assessment technology...

As organizations handle an increasing amount of data, using that data quickly and efficiently isn’t always easy. That’s why many are turning to AI to help with tasks such as triaging claims and providing adjustors with the right insights at the right moment to support more informed decisions. Ann Latimer, senior vice president, head of claims operations, at Signal Mutual Indemnity Association, describes how she leveraged Gradient AI to transform their claims triage, and what it takes to get...

Accurate reconstruction cost estimates (RCEs) are key to building strong property insurance policies. They support dependable insurance-to-value, which inform policy limits and reliable quoting, benefiting both insurers and policyholders. In this episode of “Filling the Gap,” Trish Hopkinson, head of 360 Value for Verisk’s Underwriting Solutions, discusses how current and accurate information is critical in avoiding underinsurance gaps, which leave all parties vulnerable in the case of a...