Throughout their operations, insurers have focused on designing processes and leveraging technology to increase speed and efficiency. Even in claims–the "money out" side of the business–insurers understand expediting the end-to-end process is in their best financial interest because it targets leakage.

"When there is a delay in managing claims, the result is claims resources are reacting to claim developments, which drives up expenses and the cost to manage claims," says Steve Laudermilch, senior manager and a member of the claims consulting practice at Deloitte. "So, instead of managing the claim, the claim manages them."

Insurers also have come to understand the competitive advantage gained by an efficient claims process. "Speed is attractive to customers, and insurers know improving customer service can help them in terms of customer loyalty," says Susan Cournoyer, managing vice president at Gartner.