Abstract
Overview
Introduction
Claims management lies at the very centre of the insurance industry, and
processing claimants efficiently is perhaps the biggest challenge that
providers face. The balance between claim validation and customer satisfaction
complicates the process making cost containment difficult.
Scope
- An evaluation of claims costs containment strategies
- Analysis of the current trends in fraud and anti-fraud systems
- Discussion of the latest regulatory developments affecting claims
Report Highlights
The ABI estimated that personal lines fraud was directly costing the insurance
industry up to £1.6 billion a year in 2006. This additional outlay was passed
onto the consumer which increased premiums by an average of 5 per cent.
With many large insurers having numerous legacy systems to handle claims, it
has benefited some insurers to rely upon contractors to provide IT solutions.
Specialized companies in the claims management industry have made numerous
investments in technology that can provide the up-to-date IT backbone for the
claims process and so generate savings.
Reasons to Purchase
- Gain insight into strategies insurers are adopting to combat claims
inflation.
- Benefit from an examination of the impacts regulation and legal changes
have had on claims management.
- Develop your future strategy to deal with changes occurring in UK claims
management
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