The claims department has long awaited its turn at the table for technology investment dollars, but recent trends suggest its fortune is improving. Organizations that take a strategic view of claims technology—and can articulate the benefits to those who hold the purse strings—are best positioned to get their fair share of the budget pie.
As the "money out" side of the business, claims has long struggled to gain the budget attention of the "money in" side.
"Claims has always been at the end of the line when it comes to spending because for years, the more compelling places to put investment were producer portals, new business functionality in policy administration systems, or other sales-focused systems," says Donald Light, director of Celent's Americas Property/Casualty practice. "The challenge for claims has been to articulate the business value created by claims projects and to get closer to its fair share of IT investment resources."
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