As insurance buyers and their brokers strive to better manage the total cost of risk, looking beyond the traditional focus on premiums plus policy terms and conditions to the technology used by insurers can offer financial advantages when managing claims.

After all, technology drives an insurer’s ability to lower a policyholder’s total cost of risk by delivering better claim results more efficiently. This benefits policyholders in the short run by lowering claim costs. It helps over the long term, as more efficient carriers can offer greater pricing flexibility.

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