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Sedgwick launches Gen AI feature to expedite claims 0

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Sedgwick launches Gen AI feature to expedite claims

Sedgwick launches ‘Connect 2024’ list of major trends and issues Memphis, TN (Mar. 3, 2025) – Sedgwick, a leading global provider of claims management, loss adjusting, and technology-enabled business solutions, is pleased to announce the launch of a new innovative solution, an AI-generated claims summary feature in viaOne. The viaOne portal is Sedgwick’s digital hub that provides clients with real-time access to their data and visibility into every aspect of their claims. This new feature allows examiners and claims professionals to quickly view a summary of the past 12 months of information for a particular claim at the click of a button. This solution transforms the claims process as it efficiently provides key insights, reserve suggestions, next best actions, interactive settlements, quality assurance, predictive modeling, carrier requirements, and more. By leveraging Sedgwick’s proprietary GenAI technology, new efficiencies are created for examiners when taking over claims or conducting claims reviews, streamlining the process and saving time. This recent advancement in Sedgwick’s technology evolution journey further positions the company as the leading claims administrator in revolutionizing claims management. “The creation of this claims summary feature is a testament to Sedgwick’s commitment to simplifying claims and transforming the industry. We remain hyper focused...

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AM Best Assigns Excellent Rating to MEM

Article 0 Comments AM Best has assigned Financial Strength Rating of A- (Excellent) and Long-Term Issuer Credit Ratings of “a-” (Excellent) to Previsor Insurance Company (Centennial, Colo., MEM Protect Insurance Company, MEM Shield Insurance Company and MEM Secure Insurance Company. The outlooks assigned to these Credit Ratings (ratings) is stable. Collectively, these companies are referred to as Underwriting Entities. All companies are domiciled in Columbia, Missouri, unless otherwise specified and have an intercompany pooling agreement with MEM Mutual Insurance Company (formerly Missouri Employers Mutual and Previsor) and are reinsured affiliates of MEM Mutual Insurance Group. The ratings reflect the balance sheet strength of MEM, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. MEM specializes in workers’ compensation insurance, particularly within the Midwest region. The Underwriting Entities are strategically important to the Group as MEM Protect, MEM Shield and MEM Secure were established as part of MEM’s ongoing strategic initiative, which transition from a public state-sponsored mutual insurance company to a private one, effective Jan. 1, 2025. Previsor has been a wholly owned subsidiary of MEM since its purchase in 2011. The transition will allow MEM to...

GenAI Capabilities rolled out to 100% of Manulife’s Workforce with 75% Engagement Rate 0

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GenAI Capabilities rolled out to 100% of Manulife’s Workforce with 75% Engagement Rate

Manulife’s digital capabilities, including AI-enabled enhancements, are expected to generate a threefold return on investment over five years through 2027 Toronto, ON (Mar. 6, 2025) – Manulife is pleased to announce that over 75 percent of its global workforce are engaged with GenAI through learning, immersive experiences and tools, including ChatMFC, its proprietary GenAI assistant introduced in 2024. Manulife has been actively investing in AI tools to embed across its workforce since the AI practice was introduced nearly ten years ago. By democratizing access to AI-enabled solutions, the Company is empowering colleagues to harness its potential in their daily workflows, enhancing efficiency and driving innovation. AI is not a stand-alone function at Manulife, it is an integral part of how the company operates across teams, geographies, and business units. A Culture of AI Democratization and Innovation “AI is transformative, and it is creating efficiencies for how we work, create, and interact with one another,” said Jodie Wallis, Global Chief Analytics Officer, Manulife. “By equipping our teams with GenAI tools, we’re enabling them to work smarter, move faster, and make a bigger impact. We’ve doubled our AI-driven impact by diversifying and expanding solutions, strengthening data and AI platforms, and practicing responsible...

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25 Pacific Palisades Fire Victims Sue LA and Water & Power

Article 0 Comments Twenty-five victims of the Palisades Fire victims filed an inverse condemnation lawsuit in the Los Angeles Superior Court against the City of Los Angeles and the Los Angeles Department of Water and Power, alleging the entities failed to maintain an adequate water supply and fire hydrant system. “LADWP and the City of Los Angeles had a duty to properly construct, inspect, maintain and operate its water supply system,” stated Peter McNulty of the McNulty Law Firm, attorney for the fire victims. “The system necessarily failed, and this failure was a substantial factor in causing my clients to suffer catastrophic losses.” Related: Insurers Have Now Paid Out Nearly $7B for LA Wildfires The suit alleges the city and LADWP’s “facilities, reservoir, water supply system, hydrants, infrastructure and other public improvements, as deliberately designed and constructed, presented an inherent danger and risk of fire to private property.” The Palisades Fire burned in conjunction with several fires that hit the L.A. area in January. The other major fire was the Eaton Fire. Related: California Governor Asks Congress for $40B for LA Wildfire Relief Los Angeles County sued Edison International to recoup its losses from the fire, which was one of...

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Minnesota Bill Aims to Combat Sexually Explicit, AI-Generated Deepfakes

Article 0 Comments Molly Kelley was stunned to discover in June that someone she knew had used widely available “nudification” technology to create highly realistic and sexually explicit videos and images of her, using family photos that were posted on social media. “My initial shock turned to horror when I learned that the same person targeted about 80, 85 other women, most of whom live in Minnesota, some of whom I know personally, and all of them had connections in some way to the offender,” Kelley said. Backed by her testimony, Minnesota is considering a new strategy for cracking down on deepfake pornography. A bill that has bipartisan support would target companies that run websites and apps allowing people to upload a photo that then would be transformed into explicit images or videos. States across the country and Congress are considering strategies for regulating artificial intelligence. Most have banned the dissemination of sexually explicit deepfakes or revenge porn whether they were produced with AI or not. The idea behind the Minnesota legislation is to prevent the material from ever being created — before it spreads online. Experts on AI law caution the proposal might be unconstitutional on free speech grounds....

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Alactrity Solutions Acquires InspectionConnection

Article 0 Comments Alacrity Solutions Group announced the acquisition of InspectionConnection from Latitude Subrogation Services, LLC. The transaction marks Alacrity’s 16th acquisition since 2015. InspectionConnection, founded in 2018 and based in Columbus, Ohio, is a full-service appraisal and desktop review company specializing in autos, specialty vehicles, and heavy equipment, including construction vehicles, tractor trailers, and farm machinery. Alacrity Solutions, based in Fishers, Indiana, is one of the largest independent providers of insurance claims management services in North America. Topics Mergers & Acquisitions Was this article valuable? Thank you! Please tell us what we can do to improve this article. Submit No Thanks Thank you! % of people found this article valuable. Please tell us what you liked about it. Submit No Thanks Here are more articles you may enjoy. Interested in Mergers? Get automatic alerts for this topic.

Trust, Personalization and Transparency: Foundational for Premium Accuracy 0

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Trust, Personalization and Transparency: Foundational for Premium Accuracy

By Stephen Applebaum and Alan Demers — The insurance industry is at a crossroads. Brewing negative consumer sentiment toward insurance affordability and premium fairness is spilling over as profitability struggles threaten markets. As the industry takes needed action, the approach itself comes into question. Insurers find it difficult to inform and educate a customer base that views pricing as opaque and overly complicated. All of this begs the question; can premium adequacy and trustworthiness co-exist? Eroding Trust As trust erodes and consumers grow increasingly skeptical, the industry faces mounting challenges. Recent lawsuits involving individuals’ driving data from connected cars and consumer apps being sold to insurers without clearly informed consent has struck a nerve. Allegations of improper home insurance cancellations based on flawed aerial imagery and related concerns of insurers “spying” on their customers has surfaced. And even more attention has been attracted by the recent reports of non-renewals for many homeowners just prior to the Los Angeles area wildfires and is generating a mix of angst and wake-up calls. But each of these actions are deemed necessary for carriers to ensure viability despite the obvious criticism that they lack transparency. Insurer profitability has been in the forefront as the...

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Truck Trailer Manufacturer Earns TDI Lone Star Safety Award

Article 0 Comments The Texas Department of Insurance, Division of Workers’ Compensation (DWC) has recognized Kalyn Siebert with the Lone Star Safety Award for its exemplary commitment to workplace safety. Kalyn Siebert is a leading manufacturer of custom-engineered heavy-haul truck trailers, and employs 188 workers at its Gatesville, Texas, facility. To qualify for the Lone Star Safety Award, employers must demonstrate a proven safety program, maintain injury rates below the national average for the past three years, and have no work-related deaths within the prior 12 months. Kalyn Siebert’s achievement highlights its dedication to fostering a safe and healthy work environment for employees. Kalyn Siebert partners with DWC’s free on-site consultation services through the Occupational Safety and Health Consultation Program (OSHCON). OSHCON helps Texas companies comply with OSHA regulations and develop effective safety programs at no cost. As a recipient of this award, Kalyn Siebert may be invited to share its best practices at industry events, mentor other organizations, participate in safety and health panels, or contribute to the Texas Workers’ Compensation Conference on September 29-30 at the Embassy Suites in San Marcos. Source: Texas Department of Insurance Topics Auto Manufacturing Was this article valuable? Thank you! Please tell us...

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Supreme Court Hears Texas Nuclear Waste Storage Dispute

Article 0 Comments The U.S. Supreme Court was hearing arguments on Wednesday on whether the Nuclear Regulatory Commission has the authority to license nuclear waste storage facilities amid objections brought by the states of Texas and New Mexico as well as the oil industry. The U.S. government and a company that was awarded a license by the NRC, the federal agency that regulates nuclear energy in the United States, to operate a facility in western Texas have appealed a lower court’s ruling declaring this storage arrangement unlawful. The arguments were ongoing. The Supreme Court, which has a 6-3 conservative majority, showed skepticism toward the authority of federal regulatory agencies in several major rulings during former President Joe Biden‘s administration. The NRC case is being argued at a time when President Donald Trump‘s administration has taken aim at various federal agencies in his campaign to downsize and overhaul the U.S. government and fire thousands of workers. The NRC issued a license in 2021 to Interim Storage Partners to build a nuclear waste storage facility in Andrews County in Texas, near the New Mexico border. The NRC has issued such licenses to private companies since 1980. A proposal to permanently store the...

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Short Seller Challenges SEC on Free Speech: SEC Roundup

[embedded content]Welcome to SEC Roundup, a bimonthly video series by former Securities and Exchange Commission senior trial counsels Nick Morgan and Tom Zaccaro, founders of the nonprofit advocacy group Investor Choice Advocates Network. The SEC charged Left with engaging in a $20 million multi-year scheme to defraud followers by publishing false and misleading statements regarding his supposed stock trading recommendations. While Left, the founder of Citron Research, defends himself in those ongoing cases, his attorney Eric Rosen, a partner at white-collar boutique Dynamis and a former Assistant United States Attorney, recently submitted a rule petition to the SEC seeking regulatory clarity on an issue with First Amendment implications: After publicly commenting on a security, how long must an individual wait to make a trade directionally different from the statement? Assuming the individual has no access to insider information about the company and that the individual makes no false or defamatory statements about the issuer, one possible answer to the question is that the individual may trade immediately. But it’s not clear the SEC would agree, so Left and Rosen are seeking regulatory clarity from the agency.