Improving claims management is at the top of many insurance CIOs’ priority lists. The benefits are many—increased efficiency, reduced costs, and improved customer and agent service. But the question is: How do we improve claims management? Deloitte’s new report, “Driving Operational Excellence in Claims Management,” details some steps for P&C insurers.
Claims management is highly challenging, with multiple processes and platforms, according to the report. Complex, duplicative functions are performed, often with outdated technology. The consulting firm suggests a top-down commitment to operational excellence, which can provide a competitive advantage in a soft market.
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