A recent study conducted by Conning Research concludes that claim effectiveness is fast becoming a competitive feature among property-casualty companies as measurement and process controls change the way claims are quantified.
The study, entitled "Property-Casualty Claims Management: Unlocking Value" examines critical changes in the insurance claim environment, particularly in technology, staffing, outsourcing, regulatory, and catastrophe issues.
"The claim process at property-casualty insurers has been undergoing an evolutionary change that has revolutionary implications," said Clint Harris, senior analyst at Conning, in a release. "Insurers who have been implementing advanced technologies to support claim adjusters are now looking to enhanced analytics to quantify claims' capabilities to both contain losses and reinforce renewal retention."
"As claim effectiveness becomes more transparent to stakeholders, claim management will have to be viewed as an even more central component of the company's overall health," said Stephan Christiansen, director of research at Conning Research, in a release.
More information is available at www.conningresearch.com.
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