Insurers' ability to process claims effectively has never been more important to their financial results and customer experience. Look at most any carrier's website and you'll see lots of language touting their fast, fair and friendly claims-processing practices and customer-satisfaction statistics.
But claims is a function that relies heavily on the skills of individual claims adjusters and their demeanor with the claimant. And while the goal is to offer a fair settlement and pay the appropriate amount, carriers also need to minimize leakage and fraud. Delivering that balance in a cost-effective manner-keeping both external-loss costs, such as attorney and expert witness fees, and internal-operating expenses low-can prove difficult without solid technology support, as manual processes lead to increased errors, missed steps and cost much more to deliver than automated processes.
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