More P&C and life insurers are modernizing or replacing their claims processing systems so they can take advantage of data, analytics and digital channels, as well as improve efficiencies and better serve customers, according to a new report from Novarica, a research and advisory firm focused on insurance business and technology strategy.

According to the report, “Business and Technology Trends in Claims,” more than 40 percent of insurers are either replacing or enhancing their claims systems this year, planning to do so, or engaged in major enhancements. The report, authored by Novarica assistant VP research and series editor Steven Kaye and associate Iain Prendergast, is part of a series that looks at the impact of technology across industry sectors and functions.

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