Reconsidering Risk
Six months ago, we made predictions about major trends shaping the insurance market in 2021. Now, we are revisiting them to see what came true.
An insurance claim is a formal request by a policyholder to an insurance company for coverage or compensation for a covered loss or policy event. The insurance company validates the claim and, once approved, issues payment to the insured or an approved interested party on behalf of the insured.
Six months ago, we made predictions about major trends shaping the insurance market in 2021. Now, we are revisiting them to see what came true.
This “new” normal of hybrid work has significant implications for employers, and their employees.
Those who work in the insurance field need to be asking their policyholders vital questions to understand their risk of exposure to COVID-19.
The bottom-line is that organizations of all sizes are at risk of having their valuable data – about customers, employees, operations – compromised and or ransomed by a malicious actor.
This pandemic has afforded insurance carriers with a unique opportunity to re-evaluate how they operate independently, and how their actions can affect their attractiveness for new business.
Anyone who works in the workers’ compensation (WC) field clearly knows that there is not a shortage of claim information. When evaluated effectively, carriers can understand their policyholders through use of benchmarking standards and measurement of key performance indicators.