While claims transformation is a major focus for insurance carriers, too many companies initially address systems needs without first paying proper attention to improving the business processes and operating models that drive the claims area.
Claims management has become an area for strategic innovation and growth, as carriers place increasing emphasis on innovation to differentiate themselves in a crowded, mature and increasingly commoditized industry.
Insurers are dedicating a significant amount of focus on claims-related business and technology initiatives to improve customer service, total claims results, operational efficiency and staff retention.
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