Forrester reports that insurance companies have invested heavily in the digital transformation of the claims process, introducing a range of self-service capabilities for initial loss observations, settlement and the payment process. Forrester reports that insurance companies have invested heavily in the digital transformation of the claims process, introducing a range of self-service capabilities for initial loss observations, settlement and the payment process. (Photo: Thapana_Studio/Adobe Stock)

Inflation will pose a lasting challenge to the insurance industry, and it is questionable whether insurers will be able to compensate for rising claims costs on the premium side. Insurers need to become more efficient, as automation is developing into one of the significant drivers of success.

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