Insurers can drive down their claims costs by $36 billion if they embrace technology innovations allowing them to better manage their information assets, says an industry analyst.
"The waste in this industry is shocking," says Aite Group Senior Analyst, Property & Casualty Group, Stephen Applebaum.
The consulting group has released a report, "10 Startups Transforming P&C Claims: A US $36 Billion Opportunity," says that by adopting innovative claims-technology solutions, insurers would not only stop wasting money, but improve their relationships with their customers and reduce their yearly double-digit retention losses. The report reviews ten technology companies Applebaum says are innovative leaders with a lot of buzz in the industry.
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.
