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Editor's Note

Here's a look at some of the major changes facing the industry in the next few years.

By Patricia Harman | Updated on August 01, 2015

I’ve had the privilege of speaking at a number of industry events this year and one of the topics that frequently comes up is how much this industry is changing. Technology has transformed the way adjusters, claims managers, risk managers, subrogation specialists and SIU investigators do their jobs. They have more tools available to track customers’ buying habits and investigate their losses. Social media has become an important source of information for claims managers and attorneys. Policyholders can now self-adjust some losses using their mobile devices — allowing them to schedule services almost immediately when a claim is filed.

The industry is about to undergo another major change as 25 percent of the claims workforce retires in the next three years according to a study by McKinsey and Co. Consider the years of experience that will be walking out the door — individuals who can look at a claim and know immediately it will involve complex issues that must be addressed early on to prevent costs from getting out of control on the back end.

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