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We have conducted a survey of over 100 claims professionals in order to build a greater understanding of how insurers are building contemporary claims processes that will deliver the basis from which to transform their operations. This report explores the drivers for developing new claims projects and discusses which technologies are being leveraged to develop sophisticated claims transformation strategies.

In order to meet the expectations of efficiency and transparency that customers now demand, insurers must embrace the right digital elements to drive forward their business, providing the innovation and flexibility needed to survive in a competitive business landscape. 

In the lead up to the Claims Transformation Forum, we spoke to three claims experts in order to gain a better understanding of how their organisations are incorporating technology into the claims process, how connected devices will shake up the sector in the future and the best strategies for handling the plethora of information gathered through real-time data. 

We recently conducted a survey of claims professionals in order to explore the drivers for developing new claims projects and explore which technologies are being leveraged to develop sophisticated Claims Transformation strategies. This infographic looks into how Automation, Analytics and Claims Experience Technology are being implemented to improve the claims process. 

Insurance Companies have for many years now been operating panel arrangements for their law firms. They spend significant time on the selection process of their legal panel and most Insurers have a procurement process and department. Insurers control significant legal spend across their range of products and services and a law firm which is appointed to legal panel for an insurance company can be assured of good quality work of ranging values. 

Optimising performance in claims management can do wonders for a business. With a marked improvement in the speed and quality of responses comes a natural benefit to the satisfaction and retention of customers, as well as increasing market share and generating positive word-of-mouth. However, a multitude of inefficiencies are currently driving up claims costs and adversely affecting customers’ claims experiences. What is needed is a balance – an ability to transform the process in a way that enhances customer experience. Here, we offer a few words of advice on the subject to keep you on the right track…

Purchasers of Legal Services and in particular bulk purchasers, such as insurers, will spend considerable time in the selection process for their legal panel to assure themselves of best price and service delivery controlled through pre agreed performance indicators managed through service level agreements. 

Often however, the reality of policing and enforcing key performance indicators becomes an impossible or cumbersome task that is resource heavy with data that is flawed or slow to arrive.

Insurtech companies are raising the bar for the industry’s giants as they pave the way for a new generation of insurance which is highly specialised and tailored to the customer needs. Read our exclusive interview with Oke Eleazu, Chief Operating Officer , Bought by many and Dylan Bourguignon, CEO, So-sure to discuss their thoughts on how insurtechs are changing the face of insurance and the claims process.

Register your place today for Claims Transformation 2018. Download the form, fill it in & send it back to us here: enquire@iqpc.co.uk