Editor's Note: This article has been contributed by David Connolly, principal, Jennifer Dotts, senior manager, and Christopher Raimondo, senior manager, at Ernst & Young LLP's Financial Services Office.
Given the intense competition and profound change that is underway in the property and casualty (P&C) insurance market, many insurers are looking for ways to differentiate themselves in the minds of consumers. Claims management has been an area of strategic focus and significant investment. Top-performing insurers recognize claims management as among the most important customer-facing processes, and one in which they can make or break customer relationships. That is the fundamental reason why insurers seek to enhance their service offerings and strengthen their ties to policyholders, brokers and agents through superior responsiveness, speed and user-friendliness.
Of course, the imperatives to reduce operational costs and boost overall process efficiency are ever-present in insurance. Every dollar invested must produce tangible value—and claims transformation programs are no exception. Within claims, the focus always starts with minimizing leakage.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
