The inability to meet policyholders' growing expectations, combined with the increasing demand for streamlined interactions, provide a stronger case for the integration of newer age digital claims solutions. (Credit: Pixel Land/Adobe Stock)
In an age defined by technological advancement, the insurance industry continues to grapple with the complete digitization of operations that have long been reliant on legacy systems for decades.
Despite worldwide technology spending projected to increase 4.3% from 2022-2023, antiquated processes such as unsupported platforms and outdated servers have maintained a significant role in the insurance claims sector, widening the gap between carriers and policyholders with respect to customer experience, data optimization and development of internal processes.
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