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Claim Technology Trends

Anyone with an ounce of sales resistance will recoil from promises of a product that is "new and improved" because experience teaches that even if the former is true, the latter may not be.

By Michael A. Lucarini | Updated on May 30, 2007

Anyone with an ounce of sales resistance will recoil from promises of a product that is “new and improved” because experience teaches that even if the former is true, the latter may not be. Historical experience with claim technology by some insurance companies only confirms the skeptic’s prejudice. Some technology initiatives promise far more than they can deliver, and even those that worked added cost and complexity.

Despite the industry’s somewhat troubled adoption record, the upside potential of current claim technology is, in fact, demonstrable. An analysis of more than 10,000 claims and interviews with more than 3,000 claim personnel revealed that up to 45 percent of claim handlers’ time is spent on activities that do not affect the outcome of a claim.

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