Modern Claims Strategy Essential to Future Profitability of L/H/A Insurers

Combination of audit concerns, competitive concerns, and evolving market forces have driven claims interest

 Aite-Novarica Group Profiles 9 Vendor Solutions in Latest Market Navigator

Boston, MA (Aug. 31, 2021) – Developing a modern and effective claims strategy can be essential to future profitability as insurers from individual and group lines take advantage of the voluntary benefits and worksite marketing spaces. In its latest Market Navigator, Life/Health/Annuities Claims Systems, research and advisory firm Aite-Novarica Group provides an overview of the available claims systems and suites for US life/health/annuities insurers, as well as detailed profiles of nine vendor solutions.

“Insurers are deploying advanced capabilities to keep pace with changing customer expectations,” said Nancy Casbarro, Vice President of Research and Consulting and co-author of the report. “Failing to deliver on these expectations can put insurers at a notable disadvantage, especially with products that have frequent touchpoints.

Each profile summarizes the vendor organization, technology used, differentiators, client base, supported lines of business, deployment options, implementation approaches, upgrades and enhancements, and key functionality. Vendors profiled include: Benekiva, Concentrix, DXC, EIS, FAST, FINEOS, Majesco, and Ventiv.

Click here to access the report.

Report Summary

A combination of audit concerns, competitive concerns, and evolving market forces have driven claims interest among life and annuities insurers. Aite-Novarica Group’s new Market Navigator profiles nine claims systems and suites for U.S. life, health, and annuities insurers, summarizing the vendor organization, technology used, differentiators, client base, supported lines of business, deployment options, implementation approaches, upgrades and enhancements, and key functionality.

Clients of Aite-Novarica Group’s Life Insurance practice can download this 94-page Market Navigator.

Click here to access the report.

About Aite-Novarica Group

Aite-Novarica Group is an advisory firm providing mission-critical insights on technology, regulations, markets, and operations to hundreds of banks, insurers, payments providers, and investment firms—as well as the technology and service providers that support them. Comprising former senior technology, strategy, and operations executives as well as experienced researchers and consultants, our experts provide actionable advice to our client base, leveraging deep insights developed via our extensive network of clients and other industry contacts. For more information, visit aite-novarica.com.

Source: Aite-Novarica Group

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