Articles - Connected Strategies for Claims Transformation


Welcome to the fourth and final piece in our series on Connected Claims Transformation. For this report, Insurance Nexus surveyed and interviewed over 600 executives from the insurance sector worldwide to find out how the industry views the challenge of creating a connected ecosystem within claims, where the challenges lie and what expectations are in the near to long-term.

 

 Over this series, we have explored how the transition towards Connected Claims is taking shape across the industry, and how carriers will seek to leverage the benefits of Connected Claims in future, with special focus on the technologies they will rely on. You can find parts one, two and three here.

 Throughout our research, and despite differences across North American and European markets, claims has emerged as a clear priority for innovation, due to the manifold advantages that Connected Claims provide to carriers and their policy-holders, from faster, more transparent claims, to efficiency, both in terms of time and resources.

 And yet there is a clear acceptance, evidenced by investment in third parties and supplementary technologies, that Connected Claims transformation will not solely impact claims departments; if claims are truly to become, personalized, seamless and omnichannel, the whole organization must be included.

 The successful insurance carrier of the future will not be built on siloed departments. It is this need for interconnectivity that means any approach towards embedding Connected Claims must be enterprise-wide, and with pressure mounting from the growing digital sector, there is an urgent need for carriers to act. If claims really is insurance’s “moment of truth”, now is the moment for Connected Claims.

 

 
 • The departments and job functions taking responsibility for claims transformation: from managing data, digital transformation and partnering with specialist third parties, Connected Claims transformation requires a multi-disciplinary approach
 • Current progress in Connected Claims investment: are carriers as effective as they believe, and where are they prioritizing future investment?
 • Building Connected Claims in the future: how are carriers currently investing in AI in the short and long-term, and what will this mean for carriers, their workforces and policy-holders? Which technologies do carriers think will yield the biggest lasting benefits?
  
  
 This report was produced in conjunction with Insurance Nexus’ upcoming Third Annual Connected Claims USA Summit 2019, taking place June 5-6, at the Marriott Marquis Chicago Hotel, Chicago. Welcoming over 750 senior attendees, Connected Claims USA is the world’s largest gathering for claims executives striving for efficient, customer-centric claims processing. More information can be found on the website
  
 I hope you enjoy the report!

 Mariana

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