AIG's Lance Ewing and three other insurance industry leaders respond to this month's question.
“Cyber, terrorism, geopolitical risk, technology, and the economy will define the global (re)insurance industry’s challenges and opportunities in 2016. The pace of change is accelerating on all fronts, and the insurance world will continue to undergo a fundamental transformation.”
1. DR. ROBERT HARTWIG, President, Insurance Information Institute. CLM Fellow since 2010.
“It likely will be a breakout year for unprecedented collaboration between insurers and the federal government in jointly combating fraud through the Healthcare Fraud Prevention Partnership. The partnership is more quickly identifying scams, so its impact will accelerate in 2016.”
2. DENNIS JAY, Executive Director, Coalition Against Insurance Fraud. CLM Fellow since 2012.
“We will be continuing to monitor the impact that social media sites have on the types of claims that arise and the defense of claims. It will be interesting to see the innovative avenues of social media and instant forms of communication that develop and how this impacts the industry.”
3. MARY HAEFER, JD, CPCU, Head of Casualty Claims, CapSpecialty. CLM Fellow since 2009.
“What most claims and insurance professionals will be watching in 2016 will be emerging risks. Driverless cars, drones, e-cigarettes, 3-D printing products, the ever-evolving cyberrisks, and terrorism are just a few of the hot topics in 2016 and beyond.”
4. LANCE J. EWING, ARM, CRN, ERMP, Leader, IPG, AIG. CLM Fellow since 2014.
$325 Million
Attack damages from CryptoWall, one of the most lucrative and broad-reaching ransomware campaigns.
Source: Cyber Threat Alliance
$712 Million
Amount of the largest-ever health care fraud takedown.
Source: FBI
400 Million
Number of Instagram users.
Source: Instagram
2.5 Million
Number of e-cigarette smokers.
Source: Statistic Brain Research Institute
27
Percent of car crashes that involve cellphone use.
Source: National Safety Council
700,000
Number of drones expected to ship this year—a 63 percent increase from 2014.
Source: Consumer Electronics Association
As larger threats loom, pressure grows on litigation execs and attorneys to untangle the thorny issue of billing guidelines and adjustments
Bevrlee J. Lips was managing editor of Claims Management magazine (now CLM Magazine) from January 2012 until March 2017. blips@claimsadvisor.com
