A new report from Aite Group examines the state of property & casualty insurance claims and the solutions that are helping transform the industry. Aite Group interviews with 35 stakeholders in the p&c insurance and information technology industries describe emerging opportunities for cost reduction, claims service, customer satisfaction, and industry best practices relating to claims management.
All p&c insurers have the common goal of providing fast, fair, accurate, and customer-focused claims service. It is, however, a complex process, simultaneously involving a number of internal and external parties that can impact the claims process and its progress on multiple fronts.
Over 37 percent of respondents named cost/expense reduction as one of their top three business drivers for purchasing a new claims system. Thirty-four percent cited customer satisfaction; 16 percent answered aging technology; and 12 percent reported regulation.
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