Article Abstract:
The Independent Automotive Damage Appraisers Association has almost completed the implementation of computerized damage estimation systems at its service locations. The systems are highly touted for their ability to lower costs, generate claims information quickly and create management reports. This last feature is especially attractive because it enables insurance companies to better monitor appraisal quality and estimator productivity. Another attractive feature is mobility: the units are portable, desktop computers that weigh only 20 pounds.
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Article Abstract:
Driver classification for insurance premium purposes in New Jersey has been changed to an exposure to loss basis, instead of depending on gender, marital status or age. Factors considered include years of driving experience, driving record, type of auto and number of miles driven. This change was implemented because of faults in the prior method. The new system allows for quick premium adjustments for changes in loss exposure, resulting in a more efficient market.
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Article Abstract:
The property and casualty insurance industry may benefit from the improvements in expert systems. Expert systems have been invaluable in such areas as engineering because results can be quantified, but expert systems have been less effective in the insurance industry because of the inexact nature of insurance concepts. The use of fuzzy logic can help create expert systems that provide more realistic results for insurers.
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