It is easy for insurers to overlook the central role that claims play in their businesses. The claim is the actual "product" that customers pay for when they buy insurance policies. Insurance companies talk about their expertise, their customer service, and their financial strength, but it is only when a customer suffers a loss and files a claim that the insurer has a real opportunity to deliver on its promise to the customer.
Commercial and specialty carriers face additional challenges in processing claims in a manner that meets or exceeds customer expectations. They must have effective solutions for handling complex claims, as well as specialized claim-handling teams with industry expertise.
While swift and efficient claim management has a tremendous impact on insurers' own profitability, it is also one of the keys to heightening the overall customer experience and customer loyalty.
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