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May 2013

Lucian Camp considers how well his insurers know him…..

21/05/13

My family and I moved into our current home way back in February 1997.  We arranged our mortgage, a fairly chunky £400,000-worth, through the brokers John Charcol, who also arranged £400,000 of 25-year term life cover with a very large and prominent life assurer.  The cover is still in place, and over the years I’ve paid many thousands of pounds in premiums. Since then, much has happened in our lives.  Our two children, who were then very small, are now pretty large and both at uni.  My wife stopped working full-time and set up a part-time business from home.  I…
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Alan Newman draws our attention to a current vacancy: Wanted: A Minister for Insurance

21/05/13

Wanted: A Minister for Insurance Even an industry outsider such as myself understands that Insurance is different. Unlike other market sectors (e.g. construction, energy, leisure, retail, or telecoms) Insurance and The State are natural partners. Wherever there is a combination of democracy and developed economy, citizen-consumers look to a combination of State and Market to help us manage the risks that we and our families face.  The relationship, therefore, between the two parties is too important to be defined by Regulation. • For Accident & Emergency services the State is the provider. • For Motor Insurance the State makes it…
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Fineos’ CEO Michael Kelly discusses “Using Heuristics to Achieve Better Claim Outcomes”

14/05/13

FINEOS is the number one provider of Group and Individual software solutions for the global Life & Health insurance industry Claims assessors or handlers in the Protection industry gather a wealth of data and information during their triage and assessment of a claim and interactions with the claim-related participants.  This information is generally recorded against the individual claim record.  While management information capability from the claims management solution will provide reports such as overall and individual performance of your Claims Department, auto-production of your claim settlement rate, how much has been paid out, your claim handling costs, liability trends per…
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