Business and Technology Trends, 2022 Workers’ Compensation

Eighteen examples of recent insurer technology investments are highlighted herein.  

October 18, 2022 –Emerging technologies, such as the internet of things and wearables, are playing a greater role in workers’ compensation, but insurers are still focusing on replacing core claims and policy administration systems, and are improving agent and policyholder portal functionality. They are also prioritizing AI, business intelligence, predictive analytics, and document management upgrades.

This report provides an overview of workers’ compensation insurer business and technology issues, data about the marketplace, and examples of recent insurer technology investments. This report is part of a series on key business and technology trends in specific lines of business in the U.S. insurance industry. These reports draw from the expertise of Aite-Novarica Group’s staff, conversations with Aite-Novarica Group clients and Insurance Technology Research Council members, and a review of secondary published sources.

This 35-page Impact Report contains one figure and two tables. Clients of Aite-Novarica Group’s Property & Casualty service can download this report and the corresponding charts.

This report mentions Accomplice, AF Group, AIG, Alaska Timber Insurance Exchange, Altai Ventures, altumAI, Amerisure, AmeriTrust Group, AmFed National Insurance Company, Applied Underwriters, Aquiline Technology Growth, Ascot Group, Asymmetric Ventures, Brewer Lane Ventures, Chubb, CNA Financial, Convr, Crownpeak, Crum & Forster (Fairfax Financial), CWG, Duck Creek, Eclipse Ventures, EMPLOYERS, Encova Insurance, Enstar Group Ltd., Everest Insurance, EvolutionIQ, Federated Insurance Companies, FFVA Mutual, FirstMark Capital, First Round Capital, Foresight, Foundation Capital, Frankenmuth Insurance, futureWork Insurance Solutions, Gain Life, Gradient AI, Great American, Guardian Life, Guidewire, Herald, HighSage Ventures, Hi Marley, Insurate, InsurePay, Jopari Solutions, Kentucky Employers’ Mutual Insurance (KEMI), Key Risk, Kinetic, Liberty Mutual, Main Street America (American Family), MTech, Nationwide, New Mexico Mutual, New York Life Ventures, Omaha National Group, Origami Risk, Pinnacol, Preferred Professional Insurance Co., Reliance Standard Life, Republic Group (Great American), Sapiens, Sedgwick, Service Lloyds Insurance Company, SFM Mutual Insurance Company, SmartPay, Sompo International, Tangram Insurance Services, Texas Mutual Insurance Company, Travelers, Tull Investment Group, UFG, Workplace Safety & Insurance Board (WSIB), World Innovation Labs, Yukon Workers’ Compensation Health and Safety Board, and Zenith National (Fairfax Financial).

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