Cash flow management is a common challenge among service providers, including contractors and independent adjusting firms. Following the latest active hurricane season, many firms are experiencing difficulties in their accounts receivables while still struggling to perform at top service levels on a consistent basis. Without predictable cash flow, vendor firms must find alternative methods to maintain their operations and pay their own workers until they receive compensation for their services.
Read our article in the January 2017 issue of Claims Magazine, discussing critical calculations and paperwork generated for loss adjustment expenses (LAE), loss reserving and overall risk management strategies.
Read our article in the July 2016 issue of Claims Magazine, defining best practices in project management that result in delivered systems that exceed expectations.
“St. Petersburg, Fla.-based VIP Software said it is now offering BAP in its suite of Xactware-integrated products for claims processing.”
St. Petersburg, Fla.-based VIP Software announced the integration of its BAP software with Xactware’s XactAnalysis. XactAnalysis identifies errors and opportunities for costs savings in the estimating process. Bill Audit Pro audits invoices against the approved estimates to identify billing overages.
Data was, is, and always will be the lifeblood of the insurance industry; but data is evolving faster than most of the industry tools used to capture and measure it. A dynamic insurance carrier must gain insights into new forms of data that will prove to be valuable as innovative technology and social norms emerge.
Claims Magazine and PropertyCasualty360.com highlight the products and services currently on the market that have the ability to provide insurers with critical data while saving them time and money. Our own invoice auditing and reporting software, Bill Audit Pro, made the list!
The three areas where a company can capitalize on predictive analytics are marketing, claims and underwriting.
Meet our CEO, James Makris, featured in Tampa Bay Business Journal’s Executive Files.
Executive Files with James Makris, founder, president & CEO of VIP Software. (Alexis Muellner/Tampa Bay Business Journal; Produced by Company Man Studios)
A recent survey of North American insurance carriers revealed approximately 82% rely on predictive modelling and analytics to help with their product lines. Modelling provides strong analytical forecasting that insures a company is correctly pricing its lines of business and evaluating its risk. Predictive models also play a large part in expansions for companies looking to grow their books or potentially move into other lines.
What is Big Data, and does your company suffer from it? Big data is a collection of data from traditional and digital sources inside and outside your company that represents a source for ongoing discovery and analysis. So, what does traditional and digital mean to the property and casualty insurance industry?
Data was, is, and always will be the lifeblood of the insurance industry; but data is evolving faster than most of the industry tools that are used to capture and measure it. A dynamic insurance carrier must gain insights into new forms of data that will prove to be valuable as new technology and social norms emerge.