The Changing Face of Claims: How Innovation Is Fueling Claims Transformation

An SMA Research Report

---

Author(s):

Karen Furtado, Partner

Karen Pauli, Principal

Publication Date:

July 28, 2016

Number of Pages:

15

Price:

$1,495.00 USD

Claims is a major area of innovation in the insurance industry today, driven by claims executives’ pragmatic need to increase efficiency, reduce complexity, and improve the customer experience. The Changing Face of Claims: How Innovation Is Fueling Claims Transformation explores the current activity and future plans for innovation in claims in the areas of restoration, mitigation, and prevention. The report places transformations in these three elements of claims into a broader framework for insurers.

This report covers:

• Transformation and innovation in the three elements of claims: restoration, mitigation, and prevention
• The expansion of services in restoration
• The development of mitigation and prevention through the adoption of emerging technologies
• Why the role of claims is changing at such an aggressive pace
• What changes can be expected in the next three years

The SMA Call to Action provides insurers with specific steps that they can take today in order to begin or further their own claims modernization and transformation.

Figure 1 is an example diagram from the report that illustrates the three elements of claims.

 

---