It's nice to hear property & casualty insurers are getting serious about putting more money in their claims operations. In a recent survey of p&c carriers, Accenture reported that insurers have discovered too many problems with their current systems that keep them from operating effectively in the most important customer-service area of their operation.
When filing a claim, every policyholder want exactly the same thing—to get what the insurer has promised through their insurance contract and as quickly as possible. The last part has been the holdup for many carriers that use older and/or inefficient systems. Systems don't have to be old to be inefficient as many carriers, sadly, have discovered.
In an interview with Michael Costonis, a managing director in Accenture Property and Casualty Insurance Services, he reported the average p&c company (if there is such a thing) is "operating with basic and inflexible technology."
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