Developing an effective claims strategy has never been more complex, or vital for a carrier’s survival – digital technologies and changing customer expectations have disrupted the insurance landscape, whilst the pressure to reduce claims costs is now larger than ever.
As insurance’s ‘moment of truth’, it is during the claims process that carriers’ services, products and delivery are placed under the most scrutiny. In an industry facing challenges that range from greater regulation, tightening margins and competition from agile, digital insurers, legacy carriers are seeking to differentiate themselves from their competition in any way possible. It is no surprise, therefore, that claims should be under a special focus.
And yet, bringing about personalized, seamless and omnichannel, (i.e. Connected) claims is not simply a case of refreshing or reorganizing a single department; the process has the potential to disrupt an insurance carriers’ operations entirely. The successful insurance carrier of the future will not be built on siloed departments, and this need for interconnectivity necessitates an examination of holistic, enterprise-wide strategies for embedding Connected Claims.
Insurance Nexus interviewed and surveyed over 600 senior insurance executives from around the globe, from senior leadership to claims investigators, from IT to marketing, to find out how executives view the challenge of creating a connected ecosystem within claims, where their challenges lie and what their expectations are in the near to long-term.
Download the report todayfor comprehensive, exclusive and actionable insights into:
The departments and job functions taking responsibility for claims transformation: from managing data, digital transformation and partnering with specialist third parties, Connected Claims transformation requires a multi-disciplinary approach
Current progress in Connected Claims investment: are carriers as effective as they believe, and where are they prioritizing future investment?
Building Connected Claims in the future: how are carriers currently investing in AI in the short and long-term, and what will this mean for carriers, their workforces and policy-holders? Which technologies do carriers think will yield the biggest lasting benefits?
This report was produced in conjunction with Insurance Nexus’ upcoming Third Annual Connected Claims USA Summit 2019, taking place June 5-6, at the Marriott Marquis Chicago Hotel, Chicago. Welcoming over 750 senior attendees, Connected Claims USA is the world’s largest gathering for claims executives striving for efficient, customer-centric claims processing. More information can be found on the website at https://events.insurancenexus.com/connectedclaimsusa/.