Maintaining compliance with state and federal legislation can bechallenging, given the volume of potential violations. But despitethis challenge, managing claimant communications to avoid fines orother sanctions is important. This written documentation providesan extensive paper trail necessary to comply with regulations.While compliance processes most often fall to the operationallevel, the job of ensuring core data quality should not only be thefocus of claim departments, but also in customer service and agentportals.
In a recent Wolters Kluwer Financial Services' industry researchstudy, five of the top 10 most common market conduct compliancecriticisms for property and casualty insurance are in the claimdepartment. Of these, three relate to contacting or notifyingcustomers:
1. Failure to acknowledge, pay, or deny claims within specifiedtime frames;
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