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Revving Your Analytic Horsepower

Most P&C insurers across the country are at various stages of upgrading their core claims management systems. A fortunate few have already completed the journey of an information technology (IT) transformation.

By Jim Kinzie, Kevin M. Bingham, Kim Small | Updated on October 26, 2011

Most P&C insurers across the country are at various stages of upgrading their core claims management systems. A fortunate few have already completed the journey of an information technology (IT) transformation.

From automated workflows and straight-through processing, to strategic allocation of claims resources, these 21st century claims management systems are helping companies gain a competitive edge through the use of modern technology, enhanced key performance indicators, and key performance predictors. However, for many insurance companies, the claims IT transformation journey is just beginning. Numerous challenges can exist, such as gaining C-suite support for the significant investment, unraveling complicated legacy systems, competing IT resource priorities, the complexity of researching/selecting a processing system vendor, and determining how to connect with the cloud computing evolution.     

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