It is not technologically hard to connect the dots in data to drive actionable insights. What's more: Most carriers we speak with recognize the need for data modernization. (Photo: Tippa Patt for Shutterstock.com)
The evolution of insurance carrier claims capabilities is unlocking immense value while simultaneously creating an ever-widening gap between leaders and followers.
It comes as no surprise to tenured insurance executives that their organizations are sitting on a gold mine of claims data with the potential to generate serious long-term value and market differentiation. Leading carriers have already demonstrated a tangible advantage using this often-overlooked trove to feed a number of related efforts from pricing and product development to subrogation and arbitration.
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