It doesn’t do any good to write new business unless you can service it well, and managing claims is one of today’s most complex challenges. Consumers expect full transparency and personalized service, and they want it right now. Meanwhile, claims executives have to deal with new claims exposures, variable volumes, and increased pressure from regulators, legislators and plaintiffs’ lawyers. Smaller companies can’t spend fortunes on technology the way industry behemoths can. But being smaller and nimbler has advantages, and the Web can level the playing field. Strategic use of the Web lets smaller insurers innovate despite smaller budgets.
Getting rid of manual processes is essential to becoming more efficient. Linking claims systems via the Web with external information providers is relatively inexpensive and reduces the manual steps needed to process claims. Web-based systems also can automate internal communication of claims data.
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