In personal lines insurance, there's a heavy reliance on what a new policy administration system can do for a carrier, but in claims, the approach is different, particularly when it comes to an investment in new claims systems.
"A lot of rules—that's what run claims systems," says Karen Furtado, a partner with the research and consulting group Strategy Meets Action. "There also are a lot of reminders, which is why workflow is so important."
Many carriers operating with older claims systems are still trying to get their work done without the benefit of an imaging system, something that Furtado finds amazing.
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