Since the 1990s, Accenture has been conducting research on the claims process. Our study includes more than 70,000 claims reviews and 4,500 interviews with claims professionals that span more than 14 countries.
We recommend three actions for insurers to drive high performance in their claims function:
- Tackle the whole, not the pieces. We recommend a holistic view of the claims operating model, including personnel, processes and technologies, and how that fits into the overall business strategy.
- Reinvent the claims professional for an outcomes-focused culture. The claims professional of the future needs to be at the center of a customer-centric, multichannel strategy that’s powered by real-time access to data. Collaboration and innovation are key, as are relevant metrics to encourage meaningful performance objectives.
- Maximize the value of technology. Technology underpins a successful transformation. It must capture data at a minute level of data, analyze it in real time, extract customer or outcome analytics, and then respond with actionable insight for the customer and the claim. This requires the right technical architecture, services and configuration—one that is agile and flexible.
Insurers have the opportunity to truly transform their claims function. By doing so, insurers can create competitive differentiation, improve customer loyalty and drive efficiency.
Did you miss the first two posts in this series: Catch up here:
- Part 1: Consumer expectations, the data deluge and outcomes still matter
- Part 2: The people imperative, changing face of risk and evolution of technology
To learn more, download Claims at a Crossroads: Accenture Claims Transformation Services (pdf; opens in a new window).