Handling Claims in an Increasingly Digital World: A New Era of P&C Claims Management
January 1, 2016
The insurance industry is facing intense competition, pricing pressure, and rising fraud, all of which negatively impact the processing and payment of claims and hurt the customer relationship. Today, new technologies can reduce much of the administrative burden that has encumbered the claims adjuster. In addition, a wealth of data is captured when a property and casualty loss is reported, and by applying advanced analytics to that data, insurers can arm their adjusters with proven insights rather than gut feelings to predict optimal claims outcomes consistently.
Thanks to these automation options, global processing capabilities, and analytical systems and talent, insurers can improve the quality of claims service, improve claims accuracy, reduce claims leakage and incidents of fraud, and improve investment returns. These new tools and partners can change the game for property and casualty insurers. This white paper describes how insurers can take advantage of these advances by adopting the right tools and strategies.