Are computerized claim adjusting programs designed only to cheat?
In recent years there has been mounting evidence that business ethics in the insurance industry are on a downhill slide while unfair claim practices are on the rise. Allstate recently posted 150,000 pages of “McKinsey Documents” on its website that evidence a business strategy designed by the global consulting firm McKinsey & Company. Policyholder experts contend these documents are only one quarter of the entire “McKinsey Documents” and that they prove a strategy aimed at increasing profits by underpaying claims. Other major insurers have also retained McKinsey & Co. A recent Miami Herald article by Bea Garcia on this subject quotes several sources affiliated with UP. To read the full article click here.
