With the insurance industry facing the slowest growth rate since the 1930s, property/casualty carriers are studying ways to improve operational effectiveness and drive growth, and claims is one of the key areas in which they are investing.
Property and casualty insurers are faced with difficult choices when dealing with aging claims systems, which can't provide the high level of service that customers expect from their carriers today, one leading consultant warns.
Many insurance carriers have made the bold decision--and in some cases have completed the journey--to replace their legacy claims administration system. There has been plenty of hype and many
OneShield, Inc., a provider of insurance underwriting, rating, workflow, and policy administration systems, and BlueWave Technology, a provider of claims management systems, have announced a market
At the same time, it "provides agents with an easy-to-use, Web-based interface that allows agents to perform all policy transactions," CGI noted. These include "quote, new business, endorsements,
According to several analyst firms, investments in claim-management systems are on the rise as organizations seek to sustain growth, service, and profitability from their claim operations.
Scene Genesis, Inc. (SGI) recently unveiled SceneConnect, a web-services product that lets property-casualty insurers connect their claim systems with external applications and data sources.
Geoff Engert, a spokesman for Tampa, Fla.-based AF, said the system would facilitate communications between insurance companies, third party administrators, self-insureds, collection operations and ot