As soft market conditions persist, insurers continue to find themselves under pressure to show a clear, definable and achievable return on investment for their information technology projects, especially claim-related initiatives.
The opportunity for improvement in claims organizations is garnering the attention of many a claims executive. Whether the goal is reduced leakage or improved claims efficiency, the industry is taking a closer look at investments in new claim technology to alleviate excessive claim costs.
However, claims executives are not alone in their pursuit of a company's precious capital and resources, so they must come to the table well prepared with a good business case to warrant the investment.
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