10 Startups Transforming P&C Claims: A US$36 Billion Opportunity
Report Summary
10 Startups Transforming P&C Claims: A US$36 Billion Opportunity
In The Inefficient World Of P&C Claims, A Few Startups Are Paving The Road To More Effective Solutions.
Boston, June 26, 2013 - Even following years of improvement, U.S. P&C claims remains fundamentally inefficient, characterized by labor-intensive, heavily paper-based operations. Claims is slowly changing, however, as visionary P&C insurers reinvent themselves around newly emerging operating models and position themselves to reduce overall claims loss costs and adjusting expenses to the tune of US$36 billion across the U.S. P&C insurance industry. Internal insurance company innovation sparked by entrepreneurial startups may pave the road to newer, stronger solutions. How can insurance carriers streamline their operations? Download this report to find out.
Written by senior analyst Stephen Applebaum, this Impact Note is based on March to May 2013 Aite Group interviews with early stage information technology companies that have developed new and innovative products and services for use in P&C insurance claims operations. This piece outlines the US$36 billion P&C claims revenue opportunity, profiles 10 companies that are transforming the industry, provides a directional indication of anticipated changes in claims process management, and provides recommendations for insurance carriers seeking to make the most of this opportunity.
This 39-page Impact Note contains two figures and one table. Clients of Aite Group's P&C Insurance service can download the report.