White Paper

How Technology Is Significantly Impacting the Claims Process for Hurricane Losses

Hurricane losses involving water damage have increased in recent years, leading one insurer to invest more fully in innovative technologies geared toward streamlining the claims process.
By:

White Paper Summary

Since Hurricane Matthew hit the shores of Haiti and the southwestern United States in 2016, catastrophic-sized storms have dropped historic amounts of rain. While building codes and other measures have helped curb the impact of wind damage for insureds, the vexing challenge of water and flood damage has kept many insurers on their toes.

2017’s Hurricane Harvey alone dumped more than 27 trillion gallons of rainwater over Houston, creating property damage as well as lasting mold and other environmental hazards. It remains the wettest hurricane on record, causing $125 million in damages.

“At QBE, we’ve seen more than 50% of hurricane claims starting in 2016 involve water damage,” said Alyssa Hunt, head of technical operations, QBE North America.

The recent hurricane activity was one of the key factors prompting QBE to seek out new platforms that are able to respond to and address water damage head on.

To learn more about QBE North America, please visit their website.

QBE North America is a division of QBE Insurance Group Limited, one of the world's 20 largest insurance and reinsurance companies. We offer the unique integration of financial strength, a broad product set and sophisticated capabilities to deliver value for our partners and policyholders.
Share
Tweet
Share

More from Risk & Insurance

Legal Roundup: Supreme Court Handles Pension Mismanagement Case, Fortnite Dance Moves Are on the Line and More

The latest court decisions involving risk management and the insurance industry.

myMatrixx’s Phil Walls Explains the Future of Drug Costs in Workers’ Comp

Specialty drugs, prescription cascades and generics are all impacting the cost of drugs in the workers' compensation industry.

White Paper

Chasing Pain Complaints Doesn’t Work: Why Function Belongs at the Center of Workers’ Compensation Care

The practice of rating pain has created a host of problems in workers’ compensation. Bringing focus back to functional restoration has benefits for all.

Defining Meaningful Patient Engagement: How Keeping Patients Motivated and Fully Engaged in Their Recovery Process Improves Outcomes

Having a patient be active in their recovery after a work injury engages them in the process and bolsters workers' compensation results.

Go to Homepage >

More from Risk & Insurance

Riding the Gray Wave: How Ergonomics Can Help You Master Workplace Safety for Older Workers

Older workers may be more vulnerable, but their experience is indispensable, which is why it's important to protect them with ergonomics.
White Paper

myMatrixx 2019 Drug Trend Report

Each year, myMatrixx releases our Drug Trend Report to track the utilization and costs of pharmaceuticals used in WC cases. By looking back at the previous year we can better help our partners understand the primary factors driving the industry.
White Paper

5 Ransomware Facts You Need to Know About

The use of ransomware is not going away. The good news is that insurance and insurance consultants are quite willing and able to help.
White Paper

Here’s How Companies Are Using Captives to Offset Insurance Price Increases

With ‘traditional’ insurance pulling back in some lines, insureds are using captives to fill in the gaps.
Go to Homepage >
Share
Tweet
Share

Trending Stories

3 Lessons Pro Sports Has to Offer Crowd-Driven Businesses in the Wake of COVID-19

June 21, 2020

How Ergonomics Plays a Crucial Role in Cannabis Worker Safety

July 22, 2020

Perspective | First She Lost $100,000; Then She Burned The Books

June 10, 2020

A COVID-19 Response Strategy that Shows Resilience in a Changing Environment

August 3, 2020

Cookies

We use cookies to ensure we give you the best experience on our site. By continuing to use our site without changing your settings, you're agreeing to our cookie policy. Click to view our cookie policy.