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. While all claims professionals won’t have to be full-fledged data scientists, most will likely be required to have a working knowledge of the field to take advantage of all the new information at their disposal and be able to communicate the implications to stakeholders. (Credit: VideoFlow/Adobe Stock) While all claims professionals won’t have to be full-fledged data scientists, most will likely be required to have a working knowledge of the field to take advantage of all the new information at their disposal and be able to communicate the implications to stakeholders. (Credit: VideoFlow/Adobe Stock)

Editor’s note: This is part two of an article that appeared on PropertyCasualty360 yesterday. Part one can be found here.

Breaking down the exponential claims skillset

Most of the CCOs interviewed stressed that technological and statistical enhancements are unlikely to do insurers much good if their claims units don’t integrate them productively or understand when and how to use them effectively. This puts the onus on claims professionals to expand their technical capabilities and adapt their roles to handle a higher level of work and a wider array of responsibilities. This transformation isn’t about replacing skills — it’s more about adding some and amplifying others.

Claims teams should therefore be developing exponential professionals blending elements of four distinct skillsets to provide a hybrid customer experience — both digital and in-person. Such individuals should possess a mix of business, technology, data analysis and customer management skills — able to bridge the divide sometimes separating these elements to make cognitive systems effective, seamless, and user friendly for both the claims professional and claimant.

Are insurers recruiting professionals with exponential skills?

Deloitte performed advanced text analytics on more than 100,000 detailed job descriptions advertised by various global insurers over the past five years. Our analysis showed most insurers already seeking several skillsets that would be needed in an exponential claims professional, including business acumen (such as market sensing) and customer engagement (such as relationship management and negotiation). However, we also found gaps, which if allowed to persist might inhibit the transformation of claims departments to exponential levels.

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