Data: The Foundation of High Performance Claims Handling
Report Summary
Data: The Foundation of High Performance Claims Handling
For insurers, turning routinely overlooked data into actionable information defines the next level of claims-handling performance.
Boston, July 16, 2014 – The basic premise of the insurance business involves insurers making and keeping promises to policyholders. But while policyholders feel keenly the loss of lives, property, or livelihood, insurers see only the data about these events; further, insurers' ability to keep their promises depends on their ability to understand all of the available data. Insurers will win customers and reach the next level of claims-handling proficiency by making better use of their only natural resource—data.
Based in part on Aite Group's Q2 2013 study of new entrants to the U.S. P&C insurance claims-handling market, this Impact Note indicates to insurers where they have the potential to change the key processes that determine most policyholders' views of their carriers and how to achieve the next level of performance for claims professionals.
This 15-page Impact Note contains four figures. Clients of Aite Group's Health Insurance, Life Insurance, or P&C Insurance services can download this report.