New brief highlights digital trends and emerging tech examples in P/C claims
Boston, MA (May 17, 2017) – Digital transformation is becoming increasingly important in the insurance industry as insureds carry their digital expectations, set by customer service standards in other industries, to the claims experience. In a new brief, The Digital Evolution of P/C Claims, research and advisory firm Novarica focuses on the impact of digital in insurance claims and provides insight for CIOs and their business partners on key elements of digital claims evolution.
Insurers are looking towards emerging technology from the digital revolution the supplement the expectations of insureds: IoT, telematics, blockchain, UBI, mobile, wearables, sensors, GPS, drones, and smart fabrics. Big data technologies and analytics are also being leveraged to streamline processes and improve user experiences. The brief also includes named examples of emerging technology claims initiatives by P/C carriers.
Claims: Digital capabilities of midsize property/casualty insurers (Novarica)
“Digital is not just about mobile or omni-channel capabilities,” said Keith Raymond, Vice President of Research and Consulting, and co-author of Novarica’s new brief. “Digital is all of the processes required to fulfill an external request from an agent or broker through the back-end processes triggered during moment-of-truth interactions with carriers. The resulting expectations require insurers to rethink the relationships between information, people, and processes given new capabilities.
A preview of the brief is available from Novarica.
Novarica helps more than 90 insurers make better decisions about technology projects and strategy through retained advisory services, published research, and strategy consulting. Its clients include more than 90 property/casualty and life/annuity insurers. Its knowledge base covers trends, benchmarks, best practices, case studies, and vendor solutions. Leveraging the expertise of its senior team and of nearly 400 CIO Research Council members, Novarica provides clients with the ability to make faster, better, more informed decisions. Its consulting services focus on vendor selection, custom benchmarking, project checkpoints, and IT strategy. For more information, visit www.novarica.com.