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Claims tag returned 130 results

  • India: COVID-19 claims settlement not keeping pace with the claims filed

    There is a large gap of 54% in the value of COVID claims submitted and COVID claims settled by the general insurers as on 31 March 2021 according to figures made available by the General Insurance Council of India (GIC).

    AIRPlus | 15 Apr 2021
  • Insured natural catastrophe losses in 2020 cost $81bn

    The year 2020 was the fifth costliest year since 1970 with global insured losses totalling up to $89bn. According to The Sigma Natural catastrophes in 2020 published by Swiss Re Institute on 30 March 2021. Sigma puts the global economic losses caused by natural catastrophes in 2020 at $190bn of which the insurance industry covered $81bn.

    Asia Risk | 31 Mar 2021
  • The insurance impact of Ever Given's Suez Canal blockage

    The grounding of an ultra large container ship - the Ever Given - in the Suez Canal brought traffic on the central shipping route between Europe and Asia to a standstill, with the potential to create more than $40bn dollars of trade disruption.

    Agents | 29 Mar 2021
  • A voice bot for instant motor claims registration

    Indian private non-life insurer, ICICI Lombard has launched a voice bot that will assist customers to instantly register motor claims, thereby facilitating speedy claim processing.

    AIRPlus | 25 Mar 2021
  • Community-based catastrophe insurance creates incentives for individual risk reduction

    Insurance plays a critical role in recovery from natural disasters, but many households and small businesses do not have sufficient coverage to fund repair and rebuilding due to affordability constraints, limited risk awareness, lack of understanding of insurance, or behavioural biases in decision making.

    Asia Risk | 24 Mar 2021
  • UK: Barriers for insurance professionals to help vulnerable clients

    Insurance professionals face several barriers when they try to support customers in vulnerable circumstances according to a new survey by Chartered Insurance Institute (CII).

    Asia Risk | 17 Mar 2021
  • Insurers should seek only essential information on claims

    Insurers should cut back on some of the claims information they demand from clients, which is causing mounting frustration and increasingly delaying payouts in the hard market.

    Asia Risk | 17 Mar 2021
  • Insurers should increase number of cat risk models to boost insurability

    Insurers should use a wider range of models to reduce catastrophe losses and halve the amount of uninsured risk for cat events according to new research study from Oxford University.

    Asia Risk | 17 Mar 2021
  • Aon and Praedicat to come up with specialist solutions for emerging risks

    Aon in a new collaboration with risk analytics company Praedicat, will develop a range of specialist liability reinsurance solutions to address product liability risks including nanomaterials and 5G.

    Asia Risk | 03 Mar 2021
  • Asia Pacific has the highest percentage of medical claims fraud

    Asia Pacific has the highest percentage of medical claims fraud, sitting at 4%. This is double that of the EMEA region and almost triple that of the US. The insurance industry loses about $1 billion in fraudulent medical claims each year, but it does not have the time, resources and scale to combat the problem. This was the problem that RGA attempted to solve with their claims adjudication automation solution.

    Agents | 07 Feb 2021

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