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August 11, 2020

Six Things Newsletter | August 11, 2020

Summary:

In this week's Six Things, COVID-19 and the long slog ahead. Plus, why WFH threatens innovation, how insurers are applying AI, 5 things here to stay post-pandemic, and more.

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COVID-19: The Long Slog Ahead

Paul Carroll, Editor-in-Chief of ITL

While sorting through the latest studies and projections about the path of the coronavirus this past week, I was hit in the face with a veritable two-by-four by a piece in Medium by my old friend and colleague Sam Hill. Sam, an all-around smart guy who may be known to some of you because of some high-impact consulting he’s done in the insurance world, writes that, even under the best of scenarios, we’re probably looking at the end of 2021 before the world might return to normal.

Let that sink in for a minute. More than 16 more months of this, in one form or another… continue reading >

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SIX THINGS

Why Work-From-Home Threatens Innovation
by Stephen Applebaum

Non-insurance competitors such as Amazon, Google, Tesla, Comcast, General Motors and many others are not standing still, and neither should insurers.

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How Insurers Are Applying AI
by Tiffany Wang and Jeff Goldberg

Insurers should not invest in technology-driven projects; instead, look for use-case-driven projects.

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‘Scalable Compassion’ in Workers’ Comp
by Thomas Ash

As much as claims representatives want to help individuals, there has been no feasible way to provide compassion at scale.

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Panic Pricing May Be a Bad Idea
by Wayne Allen and Guy Fraker

While raising rates might be how the industry has responded to uncertainty in the past, there are reasons not to do so now.

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Claims and Effective Risk Management
by Christopher Mandel

How you prioritize claims and related activities will have significant effects on how you can contribute to organizational success.

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5 Things Here to Stay, Post-Pandemic
by Chad Levine

While responses to where and how people work have varied, several effects on workplaces from the pandemic will persist even once it subsides.

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