Weather losses continue to be a factor in companies second-quarter results, but the ultimate impact on net income varies depending on the size of the company and the lines written.
Auto insurer Progressive Corp. says its second-quarter net income rose 16 percent to $245.2 million as net premiums written increased 3 percent during the same time.
Auto insurer Progressive Corp. says its second-quarter net income rose 16 percent to $245.2 million as net premiums written increased 3 percent during the same time.
State Farm and Hughes Telematics, Inc. announce a joint effort to bring connected vehicle services and telematics savings programs to drivers across North America. The new effort is called In-Drive and has been tailored specifically for State Farm policyholders by Hughes. The service debuts in Illinois in September with more...
With the fine-tuned tactics that hardcore fraudsters employ to target their victims, no carrier can afford to lack a strong, unified strategy against fraud.
Anand Rao, principal with PricewaterhouseCoopers’ Diamond Advisory Services, lists four key technology developments that insurers must fully understand the implications of—and aggressively take advantage of—to remain competitive in the years ahead:
Exigen Insurance Solutions and The Evogi Group announced at ACORD LOMA Insurance Systems Forum a partnership to offer complete usage-based insurance and pay-as-you-drive platforms to insurers.
Some insurers, in their never-ending effort to more accurately measure risk, have found drivers can help—and in the process, maybe save themselves a few bucks. A relatively new “telematics” tool is becoming more and more common in the automobile-insurance underwriting realm: pay-as-you-drive, or usage-based programs.
Over the next five years, we should expect dramatic changes in insurance underwriting, claims handling and fraud detection. What are the key trends, and what will be their impact on the claims-handling and fraud-fighting workflow between now and 2016? Here are some predictions.