X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

A universal truth in claim processing is that the longer it takes to settle a claim, the larger the ultimate dollar payout for that claim. Reducing claim-processing time is a self-evident requirement for insurance companies. With states’ imposing more stringent prompt-payment regulations, the ability to comply is becoming increasingly important. Insurance companies also are realizing that accurate, fast claim processing pays dividends by reducing the number of customer service inquiries, improving customer retention, fostering better relationships with agents, and providing the ability to manage loss-adjustment expense.

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.