A recent study conducted by Conning Research concludes that claim effectiveness is fast becoming a competitive feature among property-casualty companies as measurement and process controls change the way claims are quantified.
The study, entitled "Property-Casualty Claims Management: Unlocking Value" examines critical changes in the insurance claim environment, particularly in technology, staffing, outsourcing, regulatory, and catastrophe issues.
"The claim process at property-casualty insurers has been undergoing an evolutionary change that has revolutionary implications," said Clint Harris, senior analyst at Conning, in a release. "Insurers who have been implementing advanced technologies to support claim adjusters are now looking to enhanced analytics to quantify claims' capabilities to both contain losses and reinforce renewal retention."
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