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How Telematics is Changing Insurance Claim Handling

The future of technology is coming to insurance claims. While information derived from usage-based insurance telematics hasn’t fully been utilized in the claims process, the benefits that it can provide – consistency, efficiency, and accuracy – offer a way to reduce claims costs. Telematics is considered an accurate way to predict loss costs for insurers in Britain already. They have been implementing telematics information as the first notice of loss. But how can telematics change the insurance future? LexisNexis Outside of the U.S., every LexisNexis client using telematics data in its claims processing is experiencing significant savings. Should an accident happen, the information is transmitted back to LexisNexis. The information is then used as a first notice of loss (FNOL). A message alerts the carrier of the insured’s accident. The carrier can then reach out to the insured and send help to the scene. The insurer can also expedite repairs! They can send a tow ... Read more

4 Ways to Make Exercise More Fun!

Don’t believe that fun and exercise are synonymous? Read on! Many of us are hitting the gym hard or taking running lunches to trim away the Christmas turkey and tone our tummies for the summer sun! However, the quiet buzz of treadmills, the fluorescent yellow lighting, and the smell of sweat, regret, and failure in the gym is inspiring no one! For those who need to make exercise more fun and less dull, here are our top 4 tips! Go Outside: If you’re in the ever-sunny state of California, opt for outdoor running and training to boost your body into workout action! Exercising outdoors is a great way to keep things interesting! Pair Up: Have a friend that struggles with the daily grind at the gym? Exercise together! Not only will you motivate each other to work harder but you’ll actually look forward to sweat sessions! Switch It Up: If you’ve been doing crunches for ... Read more

Top 10 Workplace Discrimination Claims in 2015

Know what claims frequently cause business downfalls. In 2015, retaliation charges increased by nearly five percent and continues to be the leading concern raised by workers across the country. In our ever litigious society, should an employer feel disgruntled, they will make it known – or their lawyer will. The U.S Equal Employment Opportunity Commission (EEOC) released breakdowns of the 89,385 charges of workplace discrimination that the agency received during the 2015 fiscal year. EEOC resolved 92,641 charges during this time and secured more than $525 million for victims of discrimination in the private sector and state and local government workplaces through voluntary resolutions and litigation. The top 10 charges were as follows: Retaliation: 39,757 accounts Race: 31,027 Disability: 26,968 Sex: 26,396 Age: 20,144 National Origin: 9,438 Religion: 3,502 Color: 2,833 Equal Pay Act: 973 General Information Non-Discrimination Act: 257 With that information stated, all business owners should take action to ensure their company runs correctly and has proper protection in place, should a ... Read more

Life Insurance: What Am I Paying For?

Life insurance is a valuable insurance policy – even though it may not always feel like it! Does life insurance feel like a weighty outgoing each month, rather than a good value investment? After all, unlike a house or car, you’re buying peace of mind—rather than something you can physically touch. Premiums can increase over time and seem to fluctuate more than you’d like them to. A life insurance policy is designed to maintain your family’s finances when you are no longer there to do so. From paying funeral expenses, remaining debt, and your child’s college fund, life insurance is a policy that wholly supports your family. What makes life insurance premiums rise? Put simply, as long as you pay regular premiums to a life insurance company, then the policy should guarantee to pay out a sum of money if you die within the term of the policy. In essence, the greater your risk, the ... Read more

Does My Roommate Need Renter’s Insurance?

Renter’s insurance protects your belongings and living space! From the kitchen to the living room to your favorite sweater, most roommates share everything. Roommates are often the siblings you never asked for (or got), but there’s a mutual likeness when sharing a living space with another human being day in and day out. Whether you watch reruns of The Voice together every night, or stay in your room to avoid awkward small chat, many roommates think that if one of you has renter’s insurance, the coverage extends to the entire apartment and all of the contents. This is a costly misconception. Renter’s insurance protects the property of the people listed on the policy. Unless your roommate is listed as an additional insured on your insurance policy (or is a domestic partner, spouse, or a member of your family), their things will not be covered. Here’s the lowdown on renter’s insurance for roommates: A roommate does ... Read more
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