Claims spending is expected to rise 5.8 percent over the next three years, according to Karen Pauli, who presented at this week’s CEB Towergroup Financial Services Technology Conference; as a result, the bottom line for claims executives is investing in technology in order to keep costs down and satisfaction up.
While natural catastrophes have been getting a lot of attention for putting strain on claims departments in the last two years, the high number of catastrophe claims is not why spending is expected to rise.
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