–New Real-Time Measurement and Process Controls Create Competitive Advantage
Hartford, CONN., November 28, 2006 – Claims effectiveness is fast becoming a differentiating competitive feature among property-casualty companies as new measurement and process controls change the way claims are quantified, according to a new study by Conning Research & Consulting, Inc.
“The claims process at property-casualty insurers has been undergoing an evolutionary change that has revolutionary implications� said Clint Harris, senior analyst at Conning Research & Consulting, Inc. �Insurers that have been implementing advanced technologies to support claims adjusters are now looking to enhanced analytics to quantify claims’ capabilities to both contain losses and reinforce renewal retention.”
The Conning Research study, “Property-Casualty Claims Management: Unlocking Value” examines critical changes in the insurance environment, and particularly in claims, including technology, staffing, outsourcing, regulatory, and catastrophe issues. The study is based on a survey of senior property-casualty claims executives and on statutory data analysis.
“As claims effectiveness becomes more transparent to stakeholders, claims management will have to be viewed as an even more central component of the company�s overall health,� said Stephan Christiansen, director of research at Conning Research. �Senior insurance executives who are able to define and assure claims effectiveness will be a step closer to unlocking the value of their claims asset.”
“Property-Casualty Claims Management: Unlocking Value” is available for purchase from Conning Research & Consulting, Inc., by calling (888) 707-1177 or by visiting the company�s web site at www.conningresearch.com.
About Conning Research & Consulting, Inc.
Conning provides insurance industry analysis to insurers and industry stakeholders. The Conning name has represented excellence in independent insurance industry research for 50 years. As a result of its wealth of experience and intimate knowledge of the insurance industry, Conning understands industry challenges and opportunities and provides in-depth insights and analyses on a wide range of industry products and issues. Conning is headquartered in Hartford, CT. www.conning.com