NU Online News Service, April 25, 2:55 p.m. EDT
Since claims are the single largest expenditure for a property and casualty insurance company, investing in claims management operational improvements is one of the most effective strategies to drive profitable growth, according to a report by Deloitte.
In its report, “Driving Operational Excellence In Claims Management,” Deloitte notes that because up to 80 percent of each earned premium dollar goes to claims—as pay-out and related expenses—insurers that can reduce their claims costs by just one percentage point are likely to achieve substantial savings.
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