In the U.S. P&C industry, claims processes remain fundamentally inefficient and there is a $36 billion opportunity to reduce claims-loss costs and expenses, according to “10 Startups Transforming P&C Claims: A US$36 Billion Opportunity,” a report from Aite Group.

“Claims operations are still extremely labor-intensive, heavily paper-based, and data-rich but information-poor,” said Stephen Applebaum, author and senior analyst at Aite Group in the report. “As visionary P&C insurers reinvent themselves around newly emerging operating models that involve customer-centricity as an enterprise-wide design paradigm, this outdated view of claims is changing.”

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access