Claims

The cost of fraud is 5% to 10% of insurers’ annual revenue, and it takes firms a median time of 20 months to detect continuing fraud.

Claims represents the most important customer touchpoint in the entire insurance journey. Nothing affects carriers’ bottom lines like claims.

Here are the top 10 reasons why 2017 should be considered the kickoff year for digital transformation in insurance claims.

The pressure is on insurance companies to move beyond incremental improvements and cost-cutting.

No matter where insurers fall on the maturity curve today, there is much they can do to transform the claims process.

Insurance is now ready for an AI-based analytics platform that can help minimize claim costs and improve customers’ claims experience.

Applying the right customer experience and technology can take a traumatic, frustrating experience and turn it into a positive, loyalty-building one.

Insurers can draw on NASA-like capabilities to monitor disasters and mitigate the effects.