Editor's Note: As part of an expanded editorial approach, Claims will begin offering first-run, feature-length articles on our web site before they appear in our monthly print issue. These articles will be clearly marked and are intended to expand the editorial breadth of the magazine while at the same time delivering even more useful and educational insights to our readers courtesy of experts in the field. We hope you find this extended coverage helpful.

Today's soft market, and resulting tighter margins, means it's time to place renewed focus on improving claim efficiencies and implementing new processes that reduce costs and increase recoveries. However, finding time and resources to design and implement these can be difficult for insurers faced with competing initiatives and goals.

Many insurers have found that focusing on cost controls and efficiencies often creates issues elsewhere, as critical success factors like quality or customer service suffer from over-emphasis on metrics like claim expenses and cycle times. Alternatively, if too much attention is spent on individual losses, cycle times can skyrocket, reducing the ability to effectively service clients. Managing the claim process with one eye on servicing the insured and another on the bottom line requires a delicate balance and active management.