NCCI | Jotup

Guidewire Jasper Release Boosts Commercial Lines Agility for P&C Insurers and Strengthens Functionality Across Entire Product Portfolio

Retrieved on:

Thursday, March 28, 2024

Professional Services, Data Management, Technology, Insurance, Software, Finance, Fintech, Risk, National Council, NCCI, Early access, Compensation, P&C, Multimedia, ISO

Guidewire (NYSE: GWRE) announces Jasper, its latest release, which boosts commercial lines agility for P&C insurers with support for layered coinsurance, schedule import, and a new U.S. Bureau Content Solution.

Key Points:

Guidewire (NYSE: GWRE) announces Jasper, its latest release, which boosts commercial lines agility for P&C insurers with support for layered coinsurance, schedule import, and a new U.S. Bureau Content Solution.
View the full release here: https://www.businesswire.com/news/home/20240328607054/en/
“Commercial lines insurers face both risk and opportunity.
For P&C insurers seeking to improve commercial lines efficiency, Jasper enables faster policy issuance and processing through its flexible, cloud-based platform designed specifically for commercial lines.
The solution accelerates the launch of bureau-compliant commercial lines while eliminating the challenges of managing the circular update process.

Commercial Lines Continue to Perform Better Than Personal, Though Overall Underwriting Loss Persists, New Triple-I/Milliman Report Shows

Retrieved on:

Tuesday, January 30, 2024

Insurance, Professional Services, Milliman, MAAA, Growth, Consultant, GDP, John Carbone Porfilio, NCCI, Gross domestic product, FCAS, News, Food, CBE, P&C, Insurance Information Institute, National Council, CPI

The 2023 net combined ratio for the property/casualty industry is forecast to be 103.9, with commercial lines at 97.7, outperforming personal lines at 109.9.

Key Points:

The 2023 net combined ratio for the property/casualty industry is forecast to be 103.9, with commercial lines at 97.7, outperforming personal lines at 109.9.
Record levels of severe convective storm losses are the single biggest driver of the overall adverse results.
The quarterly report, Insurance Economics and Underwriting Projections: A Forward View, presented on Jan. 30, at an exclusive members-only virtual webinar.
“Looking at commercial auto, underwriting losses continue, with a projected 2023 net combined ratio of 110.2, the highest since 2017,” said Kurtz.

Hourly.io Implements Origami Risk Core Solution to Automate Workers’ Comp Policy Rating, Provide Instant Quotes

Retrieved on:

Wednesday, January 10, 2024

Mobile, Wireless, Technology, Insurance, Human Resources, Finance, Fintech, Professional Services, Software, Small Business, Data Analytics, Origami, Overalls, Policy, Multimedia, API, Software as a service, NCCI, Automation

View the full release here: https://www.businesswire.com/news/home/20240110571557/en/

Key Points:

View the full release here: https://www.businesswire.com/news/home/20240110571557/en/
Using Origami’s API, Hourly can now provide instant quotes for policies throughout California and in other states as it continues its rapid expansion throughout the U.S.
Hourly combines payroll with time and attendance data to determine workers’ compensation premiums with to-the-penny accuracy in real time.
The rating information is instantly applied to applications submitted by insurance agents and brokers through Hourly’s instant quote portal.
Hourly is first of its kind in the industry to bridge this gap seamlessly with a mobile-first platform.

Wolters Kluwer's MediRegs launches new automated analytics solution

Retrieved on:

Tuesday, November 28, 2023

Analytic, API, Workflow, Medicare, Hospital, NCCI, Fine chemical, Health insurance

NEW YORK, Nov. 28, 2023 /PRNewswire/ -- Wolters Kluwer Legal and Regulatory U.S. has launched Analytical APIs within MediRegs, Wolters Kluwer's acclaimed healthcare coding, reimbursement, and compliance solution. The launch of this service enables healthcare revenue cycle, reimbursement, and audit professionals to use automated analytics to increase efficiencies and cash collections throughout the audit and appeals processes.

Key Points:

Analytical APIs provide healthcare revenue cycle professionals with real-time access to MediRegs, saving time and increasing efficiency
NEW YORK, Nov. 28, 2023 /PRNewswire/ -- Wolters Kluwer Legal and Regulatory U.S. has launched Analytical APIs within MediRegs , Wolters Kluwer's acclaimed healthcare coding, reimbursement, and compliance solution.
The launch of this service enables healthcare revenue cycle, reimbursement, and audit professionals to use automated analytics to increase efficiencies and cash collections throughout the audit and appeals processes.
"As healthcare revenue cycle professionals face significant staff shortages and rapidly changing Medicare rates, it's important for our customers to stay up to date on regulatory requirements," said David Bartolone, Wolters Kluwer's VP and General Manager MediRegs.
With healthcare revenue cycle professionals experiencing increased operational challenges, Wolters Kluwer has launched the Analytical APIs as an extension of the MediRegs platform so users can streamline their workflow and meet cash goals.

Inflation, High Interest Rates, and Catastrophes Contribute to 2023 Underwriting Loss for P&C Industry, New Triple-I/Milliman Report Shows

Retrieved on:

Thursday, November 2, 2023

The quarterly report, Insurance Economics and Underwriting Objections: A Forward View, was presented on Nov. 2, at an exclusive members only virtual webinar.

Key Points:

The quarterly report, Insurance Economics and Underwriting Objections: A Forward View, was presented on Nov. 2, at an exclusive members only virtual webinar.
“P/C growth has improved in 2023, growing 1.3% versus 2.1% for overall gross domestic product (GDP).
Léonard noted that top risk scenarios for 2024 include geopolitics, weaking employment and gross domestic product (GDP) contraction.
Turning to workers’ compensation, Kurtz noted that the 2023 net combined ratio forecast of 90.6 continues the string of underwriting profits.

NCCI Partners with FoxyAI to Enhance Quality Control Process, Slashing QC Time by 50%

Retrieved on:

Tuesday, October 17, 2023

Partnership, Property technology, QC, Intelligence, RRO, Automation, Computer vision, NCCI, Attention, Medical device

NEW YORK, Oct. 17, 2023 /PRNewswire/ -- FoxyAI, a PropTech leader in real estate visualization and property intelligence, has officially announced its strategic partnership with NCCI, a provider of effective Risk Resolution Outsourcing (RRO) Solutions with actionable intelligence to mortgage servicers and other firms in the financial services industry for over 30 years. This collaboration marks a significant milestone in the automation of quality control processes within the risk resolution industry.

Key Points:

This collaboration marks a significant milestone in the automation of quality control processes within the risk resolution industry.
Now, in collaboration with FoxyAI, NCCI continues to lead the industry by incorporating the latest AI-driven QC technology, FoxyAI's Quality Control Solutions .
As a result of this partnership, NCCI customers can now harness the power of FoxyAI's cutting-edge AI solutions to:
Streamline Quality Control: NCCI has reduced quality control time by an impressive 50%, enabling NCCI to expedite its processes while maintaining accuracy and reliability.
Cut Costs: By automating quality control tasks, NCCI can significantly reduce overhead expenses, making their operations more cost-effective and their human capital more efficient.

Hourly.io Selects Origami Risk Core Solution to Automate Workers’ Comp Policy Rating and Issuance

Retrieved on:

Monday, October 16, 2023

View the full release here: https://www.businesswire.com/news/home/20231016837189/en/

Key Points:

View the full release here: https://www.businesswire.com/news/home/20231016837189/en/
Hourly will use Origami’s API to instantly quote policies.
Hourly combines payroll with time and attendance data to determine workers’ compensation premiums with to-the-penny accuracy in real time.
The rating information will be instantly applied to applications submitted by insurance agents and brokers through Hourly’s instant quote portal.
Hourly is first of its kind in the industry to bridge this gap seamlessly with a mobile-first platform.

Inflation, High CAT Losses to Lead to 2023 Underwriting Loss for P&C Industry, But Recession Likely Avoided This Year, New Triple-I/Milliman Report Shows

Retrieved on:

Thursday, August 3, 2023

The quarterly report, Insurance Economics and Underwriting Projections: A Forward View, was presented on August 3 at an exclusive members only virtual webinar.

Key Points:

The quarterly report, Insurance Economics and Underwriting Projections: A Forward View, was presented on August 3 at an exclusive members only virtual webinar.
CPI will likely stay in the mid-to-upper 3% range through the end of the year,” Léonard said.
“For commercial auto, 2022 saw a return to underwriting losses, as the industry logged a 105.4 net combined ratio, the highest since 2019.
She also revealed that the “long tail” line for workers compensation claims has gotten progressively shorter over recent years.

Relativity6 Partners with Duck Creek Technologies, Offering Fast and Accurate Industry Classification

Retrieved on:

Wednesday, July 19, 2023

Insurance, NCCI, Workflow, Classification, ISO, Overalls, NAICS, P&C, Appetite, SR, Risk, Policy, Duck Creek, Book

CAMBRIDGE, Mass., July 19, 2023 /PRNewswire/ -- Relativity6 announced today that it has partnered with Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, to offer best-in-class industry classification. Via the Duck Creek Platform, Relativity6 allows insurers to instantly classify any business by its 6-digit NAICS, ISO GL, or NCCI codes. By providing high accuracy and speed around industry class codes, insurance carriers can instantly determine if a potential risk is truly in appetite, price policies more accurately, and ultimately reduce premium leakage.

Key Points:

Via the Duck Creek Platform, Relativity6 allows insurers to instantly classify any business by its 6-digit NAICS, ISO GL, or NCCI codes.
Relativity6 is the leading industry classification company, providing classification data to some of the world's largest carriers today.
We are thrilled to bring our best in class, AI-powered industry classification technology to the Duck Creek ecosystem," said Alan Ringvald, CEO of Relativity6.
Relativity6 NAICS classification data help do just this, and we are equally excited to add them to our Solution Partner Ecosystem."

DecisionHealth's 2023 Billing & Compliance Summit goes virtual, December 5-6

Retrieved on:

Monday, June 26, 2023

DOJ, NCCI, Medicare, Practice management, Billing, OCR, Travel, OIG, Education, Q&A, Tutoring

BRENTWOOD, Tenn., June 26, 2023 /PRNewswire-PRWeb/ -- DecisionHealth's 2023 Billing & Compliance Summit is going virtual, December 5–6. The summit offers two consecutive half-days of training sessions covering best practices and proven strategies for building a billing and compliance program designed specifically for medical practices.

Key Points:

The Billing & Compliance Summit offers two consecutive half-days of training sessions covering best practices and proven strategies for building a billing and compliance program designed specifically for medical practices.
BRENTWOOD, Tenn., June 26, 2023 /PRNewswire-PRWeb/ -- DecisionHealth's 2023 Billing & Compliance Summit is going virtual, December 5–6.
The summit offers two consecutive half-days of training sessions covering best practices and proven strategies for building a billing and compliance program designed specifically for medical practices.
Answers to pressing coding, billing, and compliance questions during the Q&A sessions each day.