Tag: auto claims

Auto insurance claims still need human participation, J.D. Power

G. Turner
Car mechanic auto insurance claims

According to a recent customer satisfaction study, consumers love tech but still need human interaction. While consumers may love technology for many interactions, auto insurance claims still need that human touch. The J.D. Power 2016 U.S. Auto Claims Satisfaction Study showed tech hasn’t fully replaced people. The research showed that Generation Y is less satisfied by the insurance claim process than any other generation. The study defined Generation Y as people born between 1977 and 1994. They found the auto insurance claims process to be the least satisfactory of any…

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Funny but strange auto insurance claims associated with animals

H. Cutner

Auto vs pet insurance claims Admiral Insurance has released a report that includes the 12 most unusual auto insurance claims that have involved animals since the start of 2012. Within the last two years, for example, peacocks have been associated with claims on four separate occasions. In one case, the peacock clawed at the car when it saw its own reflection in the paint. In another instance, pet peacocks broke loose and damaged a vehicle parked in their neighbor’s driveway. Dogs have also been frequently associated with claims, including when…

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Insurers keenly aware of retail risk on the eve of Black Friday

With Black Friday and Cyber Monday looming on the horizon, insurers are keeping a keen eye on risk in the retail industry. Black Friday is the most important shopping day of the year and, in many ways, the most important day of business for most retailers. The famous deals offered during Black Friday have never failed to draw masses of shoppers to stores. When so many people gather in one space, accidents are almost unavoidable. With insurers falling under more scrutiny in recent months, they have begun warning retailers to…

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No-fault insurance bill arrives at the Michigan Legislature

S.Vagus

Michigan’s Legislature has begun reviewing a number of bills that would transform the state’s auto insurance laws. State lawmakers have been attempting to confront the issue of excessive auto insurance rates and stem the tide of fraud that is inundating the streets. Amongst a sleuth of new regulations that would curb rate hikes, legislators will be hearing a bill regarding changing the state’s auto insurance into a no-fault system. The bill has already garnered a breadth of support from consumer advocacy groups. Currently, Personal Injury Protection (PIP) insurance is required…

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Michigan Senate bill aims to restrict auto insurance injury benefits

According to the results of a study that were recently released, there would be “potentially disastrous economic impacts” if there were to be a cap to the personal injury benefits under the state’s no-fault insurance law. The research, which was performed by the Anderson Economic Group for the Coalition Protecting Auto No-Fault, looks into the possible outcome of a bill before the Michigan Senate that had bipartisan support. This bill was sponsored by senators Virgil Smith (D-Detroit) and Joe Hune (R-Whitmore Lake) and would permit a cap as low as…

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Report shows insurance fraud is skyrocketing

The Association of British Insurers (ABI) has released a report with statistics indicating that there was an increase of 9 percent in fraudulent insurance claims between 2009 and 2010. The report showed that in 2010, there were approximately 133,000 fraudulent claims, with a value of £919 million. This indicates that there are an average of 2,500 false claims made every week by the public. In fact, over the past five years, the value and quantity of detected fake insurance claims has increased by 100 percent. It is estimated that the…

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