With computer processing speeds going up and storage costs going down, claim organizations are looking to implement sophisticated claim systems that provide smart routing, predictive analytics, imaging, and customer self-service. The greatest challenge in this is underestimating the impact to the organization. The return on investment (ROI) for such a system is fundamentally driven by ensuring that every claim is handled by the right person at the right time.

In recent years, more claim organizations have started investing in new technology to make their operations less costly to operate as well as more efficient and effective. In the past, these goals would likely have been mutually exclusive. However, given the acceleration in computer processing speeds and declining storage costs — as well as the proliferation of the Internet in our daily lives — these goals are more achievable, with potentially significant returns on the technology investment.

Implementing sophisticated systems provides a means by which claim organizations can harness these advances to substantially improve operations. While the initial investment in these types of solutions can be significant, the payback can be substantial.

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