Published: 08 February 2024
Life insurance claims represent key, but neglected, touchpoints for both existing and prospective customers. As this neglect represents a potential risk for insurers, their CIOs should undertake an internal evaluation to identify system and process shortcomings and technological opportunities.
Claims process modernization is an area neglected by insurers and core system vendorsalike.
Insurers have accumulated numerous policy administration systems with differing claims processes across these systems. CIOs seek to consolidate the claims process across these systems.
Life claims processes are highly manual in nature and ripe for automation.
Build a business case for claims modernization by documenting process inhibitors and identifying associated measures that could quantify any current inefficiencies.
Examine automation options that will help streamline processes in the short term and augment decision making in the medium term by using Gartner’s automation tool to gain inspiration and select use
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