Tag: fraud prevention

The Future of Insurance – Personalized Policies and Instant Claim Approvals

Nordstrom
future of insurance - Personalized Policies and Instant Claim Approvals

Is There Such a Thing as Instant Claim Approvals? Could This Ever Happen? The concept of instant claim approvals might sound like a dream to anyone who’s had to wait weeks—or even months—for their insurance claim to be processed. But as technology continues to progress, the idea of instant claims is no longer pure fiction. Thanks to advancements in artificial intelligence (AI), machine learning (ML), and data analytics, the insurance industry is inching closer to making this a reality. Could we reach a point where claims are approved in seconds?…

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Record, Protect, Prevail: Dash Cams Lead the Charge in Road Security

Angela Linders
Dash Cams Lead the Charge in Road Security

Dash Cams: Revamping the Auto Insurance Industry In recent years, dash cams have transitioned from being novelties to essential automotive accessories. These compact devices, mounted on vehicle dashboards or windshields, continuously record the road ahead, capturing crucial footage that can be invaluable in the event of an accident. As technology advances, dash cams have become more affordable and accessible, leading to widespread adoption among drivers seeking additional security and evidence on the road. Impact on Insurance Claims One of the most significant impacts of dash cam usage is its role…

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Five Things to Do to Avoid Chargebacks

Guest Author

The intentions of the minds behind the chargeback system were obviously the fairest. Nevertheless, the very system has soon become a great environment for fraud, losses caused by it reaching almost 1.5% of the total merchants’ revenue. While there are companies specializing in chargeback prevention, there are things you as a merchant can do yourself to prevent these losses. Why are chargebacks so attractive to fraudsters? Probably the answer lies in the very history of it. Originally, the chargeback procedure was developed in the 1980s, when credit cards were just…

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Health Care Reform: The Real Issue

Guest Author
health insurance deadline enrollment

Everywhere someone is talking about Health Care Reform… politicians, consumer groups, and the media.  Big insurance carriers have become a target and are disparaged repeatedly for continuing to raise premiums.   While everyone focuses on health insurance reform, no one looks at what causes these sky high increases:  the rising cost of health care.  According to the Centers for Medicare and Medicaid Services, by 2019 health care spending will near $4.4 trillion.  The California Health Care Foundation reported that health care spending is rising three times faster than inflation.  Additionally, Medicare spending is…

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SAS wins innovation award for insurance fraud prevention technology

Guest Author
Insurance industry News

SAS® Fraud Framework for Insurance recognized by Strategy Meets Action (SMA) Business analytics leader SAS was recognized by leading insurance strategic advisory firm Strategy Meets Action (SMA) with its SMA Innovation in Action award for SAS® Fraud Framework for Insurance. This honor spotlights how new technologies can help modernize, optimize and innovate insurance practices. “SAS, the winner in the IT solution provider category for SAS Fraud Framework for Insurance, provides a cutting-edge solution by combining key next-generation technologies to help insurers detect and prevent both opportunistic and organized claims fraud,”…

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