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Tag Archives: Claims Technology

  1. 4 Areas Of Concern From The Latest Insurance Executive Conference December 12, 2012

    Posted in Commentary, Strategic Planning.

    Recently insurance leaders came together at the 23rd Executive Conference looking at “Driving Growth in the Life and Property-Casualty Insurance Markets.” Throughout the conference 4 themes seemed to permeate: Data and technology, regulatory environment, climate change and social media. It would seem these issues will with the market for a while. Take a look at our brief overview of the conference.

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  2. Everybody Wants to Make Improvements In Claims But No One Actually Makes It Happen June 15, 2012

    Posted in Claims Technology, Commentary.

    There is so much that needs to be done in the world of claims. Operations need fixing, technology needs improving and a futures need to be defined. For some reason however, we are all really good at talking about it and not so good about doing anything about it. The industry needs to take action. Claims departments need to think creatively and “out-of-the-box” if we are going to attract new talent to the industry. This also means acting and not just talking about acting.

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  3. Why Don’t Claims Organizations Track Claims Through The Process The Way UPS Tracks A Package? December 28, 2011

    Posted in Bad Faith, Best Practices, Claims Technology, Commentary, SPOT on Costs, SPOT on Ops.

    Today as a customer you can track your packages from the moment they leave the store to the second they arrive at your door. During that time you can see where they are in the process. Truly amazing. Why can’t claims organizations do the same thing? How much better would a claim be if we could track it through the system in the same way UPS can track a package. Something to think about when reading the latest from theClaimsSPOT.

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  4. 5 Must Haves To Consider When Implementing a New Claims System June 21, 2011

    Posted in Claims Technology, SPOT on Ops.

    Implementing a new claims system can be fraught with issues and concerns. It is important to understand the people aspect both before and after a system is put into place. At the end of the day the system must support people and those people should be involved in the process way before you go live. This week we learn 5 suggestions to assist in the implementing a claims system learned from Paul Tuhy, Global Head of Claims for XL Insurance who recently spoke about technology at the most recent Americas Claims Event in New Orleans.

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  5. Looking Back On 2010 And Forward To 2011 In The World Of Claims December 31, 2010

    Posted in Best Practices, Claims Technology, Commentary, My SPOT, SPOT on Issues, SPOT on Ops.

    The year began with continued economic concerns, a poor job market and no recovery in sight. It has come to a close with a booming stock market, improved job numbers and a better outlook for 2011. Looking back on the year in claims and looking ahead to the future of claims is always a fun exercise this time of year so here we go! The Claims SPOT adds to the debate about the past and the future.

    Thanks for reading and have a happy and healthy holiday season and New Year!

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  6. Claims And The Investigative Journalist And Learning From All The President’s Men November 9, 2010

    Posted in Best Practices, SPOT on Issues.

    Investigating a claim is like being an investigative journalist. Using the story of Bob Woodward and Carl Bernstein and All the President’s Men, see how there is a relationship between investigative reporting and claims. In today’s post we also remind claim professionals how technology has truly made certain aspects of claims bette. Regardless, it is important not to forget what is most important in claims – the knowledge and skill of the claims professional’s ability to analyze fact and come to a reasoned and supported conclusion.

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  7. You Can’t Wait Till The Last Minute To Improve You Operation – Planning Starts Now! June 22, 2010

    Posted in SPOT on Ops.

    In a a great analogy about the rapid growth of lily pads in a pond, we discuss the need to start strategic planning to solve problems before they become to hard to deal with. Like most industries, adopting and changing with the times can be a difficult proposition. It takes time to think of issues, come up with solutions and implement the changes. Insurance companies have added legal, compliance and regulatory concerns to say nothing of complex (sometimes outdated) information technology systems. Regardless, it’s not too late to address issues such as a social media or mobile strategy. We give two suggestions of recent trends that should be explored by claims organizations over then next few years.

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  8. The Legacy Claims System Facelift – 5 Issues To Consider When Looking At New Systems June 7, 2010

    Posted in Claims Technology, SPOT on Ops.

    While historically the replacement of a claims system could seem like a 18-month root canal, new technologies and new approaches have made it possible to significantly reduce implementation times. While this can make a decision to change systems more appealing, the evaluation of new claims systems still presents a myriad of options. Pages and pages of feature-sets offer tremendous advancement, but can seem confusing and even overwhelming.

    So with all these options available, what are some key items to consider as you look at the marketplace? Taylor Smith gives 5 items to consider when selecting a new claims system for you organization.

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  9. New Claims Technologies To Help Companies Drive Revenue And Differentiate Themselves April 12, 2010

    Posted in Claims Technology.

    New Study By The Gartner Group Shows 10 Technologies With The Greatest Impact For The Property/ Casualty Industry To Drive Revenue. In this post I comment on 4 solutions that can have a dramatic impact on claims and improve bottom lines. Failing to adopt new technology will put companies at a competitive disadvantage. Every company should look to evaluate their current systems and offerings and create a strategic plan to keep up-to-date with software and solutions. Staying ahead of the curve is a sure way to help drive costs down and stand out from those who don’t.

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  10. Blizzard Warning in the East! Can your claims department keep running if the office closes? February 10, 2010

    Posted in SPOT on Ops.

    The East Coast snow storm is a great reminder to be prepared for disasters and other reasons why your office would have to close. Do you have the plans in place to manage the next event? Does your claims system give you the ability to manage claims remotely? Can you manage claims remotely for an extended period of time?

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  11. Better claim reports can help improve producer/carrier communications (take our poll) January 29, 2010

    Posted in Customer Service, SPOT on Ops.

    Improved producer carrier relationships can be a competitive advantage to help increase profitability in tough economic times. According to the survey, a key differentiator for carriers to attract more business from their producers is in the areas of claims handling and technology. Most modern claims systems can create automated customized reports. Producers should be able to ask for specific reports and have them electronically scheduled for delivery. Better reporting will go a long way to improving relationships, and can only help increase profitability and enhance service to the policy holders.

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  12. Are claim departments’ process and systems ready for the new “Freelance Nation” worker? January 26, 2010

    Posted in SPOT on Ops.

    Can claim departments handle the change in the American workforce. The insurance industry has struggled in recent years to attract and retain new talent, especially in claims organizations. In an effort to continually provide the best talent, as well as provide the best customer service, more of the “Freelance Nation” will need to be employed. To do this, claim organizations will need to employ strong procedures and up-to-date technology to ensure optimal performance from this more fragmented workforce. Are they ready?

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  13. Putting Puzzle Pieces Together and the Challenge of Creating a New Claims System January 22, 2010

    Posted in Claims Technology, My History.

    Tweet Creating a new claims system should be easy with no legacy, right? Not so fast! One of the great things about going to work for a start-up insurance company with a lot of venture money is the idea that you can build everything from scratch. No legacy of losses, a clean balance sheet, and […]

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  14. With old claims systems come old claims processes – You can’t change one without the other! January 21, 2010

    Posted in Claims Technology, SPOT on Costs.

    Tweet So you need a new claims system You know the darn thing doesn’t work or do what you want it to do so what’s next? You can’t just go out and buy a new system without understanding what your current process looks like. Over the years you have adopted your operation to your existing […]

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