Towers Watson Property & Casualty Claim Officer Survey
Toronto, ON (Nov. 20, 2014) – Loss cost containment is the paramount operational goal of chief claim officers (CCOs), and proactive, engaged claim handlers are essential to achieve that end, our ninth Property & Casualty Claim Officer Survey finds.
Eighty-nine percent ranked loss cost containment either first or second in operational claim goals, exceeding superior customer service (71%). Commercial line carriers find it particularly important. Personal lines carriers also emphasize customer service, a function of serving individual customers that have multiple options in a competitive marketplace.
Passive claim handling is the top barrier to achieving superior claim outcomes on individual claims (77%), far surpassing ineffective supervision (60%) (Figure 1).
Figure 1. Top barriers to superior claim outcomes
The report on the survey also describes how claims deals with:
- The Course of a Day: Daily Priorities; Empowerment
- Key Challenges
- Quality Assurance
- Build a Strong Front Line
To read the rest of the survey results or to save a PDF copy from Towers Watson, click here.
About Towers Watson
Towers Watson (NYSE, NASDAQ: TW) is a leading global professional services company that helps organizations improve performance through effective people, risk and financial management. The company offers consulting, technology and solutions in the areas of benefits, talent management, rewards, and risk and capital management. Towers Watson has more than 14,000 associates around the world and is located on the web at towerswatson.com.
SOURCE: Towers Watson