As profitability pressures on property/casualty insurance carriers continue to increase, innovative insurers are turning their focus inward with back-to-basics initiatives to improve efficiency in their core operations, with claims being of particular interest. Many have invested in replacing legacy claim systems with modern technologies, but simply replacing technology without looking at the whole picture of the claim adjusting value chain is unlikely to allow the new technologies to deliver full value to the claim adjusting operation.
In addition to new technology investments (and regardless of their current claim adjusting technology), insurers have a number of strategies available that can help them enhance their claim operations, improve efficiencies, and better control costs.
Triage and Segment
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