by Collective Team | Nov 1, 2024 | Last Updated: Dec 18, 2024
P&C insurers must adequately prepare for seasonal surges in demand to minimize service disruptions and maintain policyholder satisfaction during peak periods. With proper preparation, insurers can allocate resources efficiently and optimize operational costs...
by Collective Team | Oct 10, 2024 | Last Updated: Dec 18, 2024
No policyholder looks forward to initiating a claim, but when they do they expect a fast and seamless experience. Insurers must strike a balance between processing claims quickly and maintaining accuracy and thoroughness. Failing to do so can lead to overpayments or...
by Collective Team | Sep 9, 2024 | Last Updated: Oct 28, 2024
Like in most other industries, the possible uses for Artificial intelligence (AI) in insurance processes continues to expand. This is especially true for more repetitive and resource-intensive functions like claims processing. AI can help insurers improve accuracy,...
by Collective Team | Sep 9, 2024 | Last Updated: Sep 27, 2024
When considering outsourcing key insurance functions, it’s essential to have confidence in the proficiency of the team handling these critical tasks. You want to be sure they’re well-equipped to navigate the industry’s complexities and deliver top-tier service to your...
by Collective Team | Aug 28, 2024 | Last Updated: Dec 18, 2024
Insurance underwriting is tougher than ever, with the industry facing a $24.5B net loss in 2023. Despite challenges like a potential recession, surging natural disaster claims, and rising fraud, the market is growing, valued at $1.8T and set to expand. Covenir offers...
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