A key problem in claims management lies in the billions of dollars in overpayment, inefficiency and waste–or what the industry generally refers to as “claims leakage.” Combine this challenge with the unprecedented number of recent catastrophic events, and insurers now have an even greater sense of urgency to speed up and improve claims-handling while optimizing adjuster communications and resources.
The silver lining is that insurers, once hampered by legacy systems that are resistant to integration and modification, are now increasing their information technology investments in claim systems–particularly in tech projects that incorporate the Internet in all phases of the claims life cycle.
As a result, claim departments are undergoing a dramatic transformation from inefficient, disjointed processes to a more streamlined workflow powered by integrated Web solutions. The following are some of the Internet tools that have begun to supercharge claims operations.
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