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Best’s News & Research Service - June 21, 2017 03:11 PM (EDT)

A.M. BestTV: New Technology Adds Adjusting Speed and Reach, Diminishes Relationships

  • June 21, 2017 03:11 PM (EDT)
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Oldwick //BestWire// - In this A.M.BestTV episode, attendees at the 2017 National Association of Independent Insurance Adjusters conference in St. Thomas, Virgin Islands, said new technology-enabled services are re-making their industry, aiding those who can leverage them and threatening old workflows and relationships. Click on http://www.ambest.com/v.asp?v=naiia1617 to view the entire program.

“Everyone is paperless today, which gives you the ability to accurately handle a claim from your phone or car, as well as print checks from your car,” said Francis Marx, president, Curley Adjustment Bureau. “Now, due to drones, you can be on the scene of a horrific auto accident or a serious fire.”

David Root, president, Root Cause Consulting, said he sees technology as a positive and a negative.

“Obviously technology has changed the industry tremendously,” said Root. “The old brick and mortar offices are becoming obsolete. However, with technology you lose a little of that human touch, which in a lot of ways is regrettable, since there is something to be said for that face-to-face contact.”

For full video coverage of the 80th National Association of Independent Insurance Adjusters conference, including exclusive executive interviews, visit http://www.ambest.tv/naiia17 .

Other people that appear in this episode:


  • Brenda Reisinger, executive director, National Association of Independent Insurance Adjusters;

  • David Hausch, president, Hausch & Company;

  • Paul Nilles, executive vice president, GC3;

  • Peter Schifrin, president, Schifrin, Gagnon & Dickey;

  • Palitha Jayawardena, director, Ceylinco Life Insurance Plc; and

  • Susan Daniels, president and chief executive officer, Northern Adjusters.

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  • Insurers Embrace Liability-Driven Investing, Says Conning’s Mainolfi: Daniel Mainolfi, managing director, Conning, said insurers and pension fund managers have become proficient in investing against long-term liabilities, which can reduce overall volatility: http://www.ambest.com/v.asp?v=mainolfi617 .

  • Assignment of Benefits Issue Drives Florida Claims Costs Higher: Chris Draghi, financial analyst, A.M. Best, reviews a Best’s Special Report, which looks at Florida’s practice of allowing contractors to assume responsibility from insureds for insurance repairs and how insurers are responding: http://www.ambest.com/v.asp?v=floridaaob617 .

  • Insurers Set for Frenzied Activity Ahead of New Reporting Standard: Attendees at the 11th Annual Asian Insurance CFO Summit said International Financial Reporting Standard 17 will require companies to rebuild their information systems, and change how they capture and manage data and respond to regulations: http://www.ambest.com/v.asp?v=asiacfo1617 .

A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html . View A.M.BestTV episodes at http://www.ambest.tv.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source.



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