Maurice Blackburn Lawyers has rolled out an artificial intelligence-infused solution that cuts the time taken to assess a client’s entitlement to a superannuation disability insurance claim from months down to the span of the client’s initial phone call. Developed by Microsoft partner, Arinco, the system saves time for the client while also freeing up the lawyers who would otherwise have their time taken up with combing through insurance policy fine print. Maurice Blackburn’s insurance claim lawyers provide a no win, no fee service to clients and it’s imperative that the initial triage of claims is fast, inexpensive and accurate. A ground-breaking solution developed using Azure Cognitive...
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When you signed up for your employee benefits, you may have glossed over the section on disability insurance. If you’re healthy, it’s tough to imagine ever being unable to work—even for a short amount of time. But disabilities can happen, and your workplace coverage may not be enough. One in four 20-year-olds will become disabled before retirement age, according to the Social Security Administration. While many rely solely on Social Security disability payments, the average payment is $1,234 per month. Plus, these benefits may be difficult to qualify for (we’ll cover more on that later.) Short-term vs. long-term disability insurance Your company may offer one or two types of disability...
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Last year, while enjoying a lovely dinner with several friends at a favorite local restaurant, our evening was disrupted by a phone call. The news was devastating. While we were spending an evening filled with laughter and camaraderie, a husband of one of the ladies was at home watching their children. He needed something that was stored in the attic and climbed up the access ladder to obtain the item. The access ladder, which was permanently attached to the entrance of the attic, suddenly gave way. My friend’s husband abruptly fell to the concrete floor beneath him. Fortunately, he survived the fall, but he suffered very serious injuries that left him partially paralyzed. In a split second...
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The ' Disability Insurance market' report Added by Market Study Report, LLC, enumerates information about the industry in terms of market share, market size, revenue forecasts, and regional outlook. The report further illustrates competitive insights of key players in the business vertical followed by an overview of their diverse portfolios and growth strategies. The research report on Disability Insurance market offers a thorough analysis of this industry vertical, while evaluating all the segments of the market. The study provides significant information concerning the key industry players and their respective gross earnings. Additionally, crucial insights regarding the geographical...
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In his over two-decade racing career, Formula 1 legend Michael Schumacher was never involved in an accident that would have forced him off the circuit. However, last year when skiing in the French Alps, Schumacher met with an accident that left him in coma, from which he is still recovering. That, in a nutshell, is the unexpected nature of accidents. Many a times, the impact of the accident could leave one in a state much worse than death. Most people tend to have life or health insurance of some form, but they forget to anticipate the risks associated with accidents. While health and life policies do address the risk of illness and death, even they do not take into account the situation...
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Mental health has become an increasing concern for people around the world because of the COVID-19 pandemic. The coronavirus has disrupted normality as we know it, causing mass uncertainty which, for some, is a potent cause of distress and anxiety. But the global pandemic is only highlighting and exacerbating an issue that has been top of mind for many organisations, including insurers, for some time. It’s in everyone’s best interest – individuals, insurers, governments and communities - when people are as physically and mentally healthy as possible. “First and foremost, we need to raise the prominence of the role that insurance can play in helping consumers deal...
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Breeze announced on Tuesday it has teamed up with Assurity Life to launch an API-driven disability insurance product with a digital application and underwriting process. Through the new service, individuals may request a personalized disability insurance quote and complete a secure application process online in 10-15 minutes. By using existing data from health records and other sources, Breeze allows eligible applicants to skip the medical exam often required by manual underwriting. “Policies from the Omaha -based company are issued by underwriting partner Assurity Life, which is rated ‘excellent’ by AM Best for financial strength. Coverage is available in 49 states and...
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This well versed report is thoughtfully crafted to arm report readers with convincing market insights on the mettle of all aforementioned factors that propel relentless growth despite significant bottlenecks in the Life, Pension, Health & Disability Insurance Market. This recent research compilation on the Life, Pension, Health & Disability Insurance market presents a deep analytical review and a concise presentation of ongoing market trends that collectively inculcate a strong influence on the growth trajectory of the aforementioned Life, Pension, Health & Disability Insurance market. This study covers following key players: Anadolu Hayat Emeklilik Assicurazioni Generali...
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Western Union Partners with AXA to Offer Insurance Services Through Its Global Payments Platform Today, Western Union (NYSE: WU), a global leader in cross-border, cross-currency money movement and payments, announced a new strategic partnership with AXA to leverage Western Union’s global omni-channel platform to deliver affordable life and disability insurance offerings to consumers in France, sending money via www.westernunion.com to 10 African countries. The partnership will initially be a pilot program which Western Union and AXA hope to grow and scale over time. The initiative highlights the broader potential opportunities of Western Union’s strategy to leverage its unmatched global...
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And even if you don’t need to be hospitalized, if you do experience symptoms and test positive, you might have to stay quarantined for enough time that you’d lose income. These risks highlight the need for everyone, regardless of their age or current state of health, to have some form of disability insurance coverage. You might think you don’t need disability insurance, especially if you’re young and in good health. Hopefully, you’re right. Unfortunately, though, becoming disabled can happen to anyone at any time. This isn’t specific to coronavirus either; it has always been true. The Americans with Disabilities Act has detailed specifics on what a disability is, but the most basic...
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