Insurers face an uphill battle when it comes to claims management, according to James Swayze, president and CEO of Symbility Solutions, Toronto. Swayze, who presented on the topic at the 2010 PLRB Claims Conference last week in San Antonio, presented results of a JD Power & Associates study that revealed 46% decline in client satisfaction scores for property claims between 2004 and 2008, and a rising claims process cycle time that averages 18.6 days to close.
“Insurers using the latest satellite roof measurement device, property damage estimating tools or content replacement plans may believe they are up to date,” noted Swayze, “but if these tools aren’t integrated with the claims department’s file, it could just be creating a techno-stew that makes the claims process even more difficult to swallow.”
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