Over the years, insurers have invested in transformation initiatives to stay competitive, support their strategies, and build more agile, adaptive and disruptive businesses and operating models. With a changing competitive landscape, insurers must realise where to bet big on transformation effort and cost.
The claims function is a critical moment-of-truth in the insurance value chain. For general insurers, digitising the claims function holds tremendous potential. Claims are one of the few opportunities insurance carriers have to deliver a positive, impactful customer experience, build customer loyalty and collect valuable data to help improve operations.
This article focuses on the benefits of embracing claims digital transformation.
• Outcomes that matter.
• The impact on claims outcomes.
• Levers for claims transformation.