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The Shifting Landscape of the Insurance Industry Driving Claims Transformation
Claims organizations have progressively become customer focused — in some instances, they’re the only interaction point between customers and a carrier outside of policy purchasing and renewals. This has created unprecedented pressure on claims organizations to not only deliver quality outcomes for the carrier but also provide exceptional service and experience for the customer and their producer.
Shifting economic dynamics have driven claims organizations to no longer be viewed as pure cost centers. There is increasing expectation for claim units to operate efficiently and at near equilibrium.
Together, these factors put significant strain on a carrier’s claim technologies and platform ecosystems. Patch-work solutions are incapable of supporting modern systems and advancing capabilities.
In our next blog post, we will explore the emerging trends that are impacting and being leveraged across the claims industry.