InsurTech Center

Disrupting the insurance claims process — the right way

Technology can improve some common claims issues to expedite the evaluation and payment processes.

By Timothy D. Christ | April 05, 2022 at 12:00 AM

The next level of cost containment and claim cycle time improvement will come from reviewing all vendor processes, identifying those areas that can be done faster, better or cheaper.

It’s always a lot of fun to talk to insurance claims professionals who have experienced a claim themselves and have them speak honestly about their experience. Did they experience any delays, and if so, what were they? What friction did they encounter in the process? Where do they see an opportunity for improvement?

Everyone I have spoken with has several suggestions on how to improve things. Let’s review several standard processes that have been improved and those that can be further enhanced through technology.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
Educational webcasts, resources from industry leaders, and informative newsletters.
Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account? Sign In Now

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

Recommended Stories

Who's using what in P&C insurance: April 15, 2024

PC360 Staff Writer | April 15, 2024

Insurance technology news from Send Technology Solutions, Trean Insurance Group, Bond-Pro, and more.

Pennsylvania issues AI guidelines for state-licensed insurers

Ashley Hattle-Cleminshaw | April 11, 2024

The April 9 release outlines concerns over bias and transparency in AI-supported decisions, particularly in underwriting.

Cloudflare using lava lamps for secure SSL/TLS encryption

Ashley Hattle-Cleminshaw | April 01, 2024

Cybersecurity is only as strong as the random data sources creating encryption keys. True randomness is found in the chaotic physical world.

Resource Center

This guide empowers insurance carriers and risk managers to navigate complex regulations, safeguarding their brands from costly SMS and text messaging penalties.

Guide

Sponsored by gryphon.ai

The Ultimate Guide to SMS/Text Messaging Compliance

This guide empowers insurance carriers and risk managers to navigate complex regulations, safeguarding their brands from costly SMS and text messaging penalties.

Browse More Resources ›

Navigating the complexities of P&C core insurance digitization is no easy task. Explore the critical decisions between building or buying and how to achieve operational excellence in this white paper.

White Paper

Sponsored by Origami Risk

Build or Buy? Considering the Critical Decisions in P&C Core Insurance Cloud Digitization Projects

Navigating the complexities of P&C core insurance digitization is no easy task. Explore the critical decisions between building or buying and how to achieve operational excellence in this white paper.

Browse More Resources ›

As more customers “unbundle” their insurance products and spread their business among many carriers, agents must look for creative strategies to retain and grow business. Download this white paper to learn top strategies to ensure success in 2024.

White Paper

Sponsored by Melissa

Clean Your Data to Win the Customer Retention War

As more customers “unbundle” their insurance products and spread their business among many carriers, agents must look for creative strategies to retain and grow business. Download this white paper to learn top strategies to ensure success in 2024.

Browse More Resources ›

PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now

Copyright © 2024 ALM Global, LLC. All Rights Reserved.