The National Worker’s Compensation & Disability Conference (NWCDC) returns for another year. The event takes place October 20th to the 22nd at Mandalay Bay Resort in Las Vegas. TerraClaim is presenting at the NWCDC (booth #471) demonstrating how TerraClaim streamlines the insurance claim management process. A Place to Discuss Workers’ Compensation in Person The 2021 NWCDC is an opportunity to network with the biggest companies and influencers in the insurance industry. Attendees learn about the evolution of the insurance landscape with a special focus on Workers’ Compensation. Registration is still open for attendees andRead more
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InsureTech Connect (ITC) Returns this October and TerraClaim is going to be part of this historical event! Since 2016, the world’s largest Insurtech Event has offered exclusive access to the most comprehensive and global gathering of tech entrepreneurs, investors, and insurance industry incumbents. This year, the conference is back for 3 days of the latest innovations of the industry, top notch speakers, more than 500 hours of content, and 30,000 one-to-one meetingsRead more
Recently, the Cyber Insurer Coalition published a joint report with federal organizations showing that cyber-attacks have increased dramatically during the first half of 2021. The investigation analyzed 50,000 claims from policy holders in the United States and Canada in their words, the H-1 2021 Cyber Insurance claims report shows that “cyber-attacks involving ransomware increased 50% from January to July compared with the same time period of 2020. At the same time, theRead more
Business Interruption insurance is a type of coverage that a business owner turns to when they are forced to close their business for a period. The reasons behind this “non-voluntary” closure could be internal or external factors that make owners lose their ability to generate sales and income. Internals: such as a gas leak, a fallen tree, a broken water pipe, etc. Scenarios that force a company to stop businessRead more
Are you considering moving your time-consuming manual process to an automated system to support faster and more accurate claims processing? If so, you need to choose the right solution that directly addresses your specific claims goals. Switching from a manual process to a software that helps your company save time and money will depend on a series of factors. Sometimes, users are not familiar with IT (Information Technology) environments and isRead more
The Insurance Industry is opening its doors to new forms of insurance. In this new scenario, the concept of “Open Insurance” is generating a world-wide project that draws on the experience of the Open Banking initiative. Open databases allow insurance providers to share with each other, what information they have available about the insured. The outcome are tailored policies for each insured, less time spent on dataRead more
Artificial Intelligence: An answer for Insurance Claim Management? Artificial Intelligence (AI) is much more than a buzz word in the insurance industry. AI has promoted changes across the industry in various practices: Chatbots. Claim Management. Evidence Gathering for Auto and Health Insurance via wearables. Telematic Devices. Massive Data Production and Analysis, and more. Changes brought by AI are not only being adopted in the industry, but they are also changing insurance permanently. But before digging deeper into this subject, let usRead more
To understand what a mortgage clause is and what an additional insured on a mortgage is, you must first understand what a mortgage is. According to Investopedia, “A mortgage is a loan that the borrower uses to purchase or maintain a home or other form of real estate and agrees to pay back over time, typically in a series ofRead more
According to the U.S. General Services Administration, Blanket Purchase Agreements are “agreements established by a government buyer with a contractor to fill repetitive needs for supplies or services.” These agreements are crafted to simplify the acquisition of certain goods or services that are going to be required as time passe with the customer’s specific requirements in mind. Are there different typesRead more
Captive Insurance is another way to protect your organization against financial risk. With Captive Insurance, the ‘insurance company’ that provides coverage is owned by the insured. That means that the insurer who owns the risk, also owns the insurance company who does the captive coverage. This Insurance Company -created to create the captive insurance policy- is subjected to the same regulations as any other insurance company and needs to have CapitalRead more
