Significant process and technological improvements to the personal lines insurance claims function have been made over the past 15 years, but even more profound changes are likely in the next wave of investment over the next decade, according to a new study by Conning Research & Consulting.

"Insurers have driven significant change in the claims function and process since the mid-1990s in search of efficiency, effectiveness, and improved service to the policyholder," says Alan Dobbins, analyst at Conning Research & Consulting. "What is less clear in our analysis of available data is whether insurers have gained the expected financial benefit in terms of reduced expenses.  The world has changed, in terms of customer expectations, and insurers have responded, perhaps just to stay in the game."

The Conning Research study, "Personal Lines Claims: Building to the Next Wave of Investment" reviews the claims function as of the mid-1990s, presents the dramatic changes in claims leading up to today and measures the impact of those changes. Further, the study looks at those problems that still need to be addressed, and the technologies that will support insurers as they build on the changes to date.

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