The moment when a customer files a claim is often called the moment of truth: it’s a critical opportunity for the insurer to demonstrate its ability to process that claim optimally. “Optimally” used to mean processing claims in a fair and timely manner, but today, it also means delivering a tailored customer experience. Are property and casualty (P&C) insurers’ claims systems up to the challenge?

On average, insurers plan to invest $17.5 million in the claims function

Figure 1: How much does your organization plan to invest in its claims function over the next 3 years?
Click the image above for a large version of the Insurance Chart of the Week (opens in a new window).

Customers expect timely, fair claims resolution. Insurers must be positioned to serve customers accordingly, and using the channels that best suit a customer’s preferences. To compete effectively in today’s market, flexibility, agility and efficiency aren’t just nice-to-haves—they’re must-haves.

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