Complimentary White Paper
More Data, Earlier: The Value of Incorporating Data and Analytics in Claims Handling
While many property and casualty (P&C) carriers have incorporated third-party data and analytics into their application and underwriting processes, few have integrated them deeply into their claims process. Meanwhile, claims departments are feeling pressure to reduce expenses, identify and battle fraud, and enhance customer service—while also coping with a shrinking workforce of claims adjusters and IT resource and budget constraints. Today's market pressures require carriers to move past the traditional claims-handling procedures, to enable a more nimble, flexible claims process.
To assess how having more data earlier can evolve the claims process, LexisNexis conducted a study of more than 10 million features from A.M. Best's top 20 carriers. Download the whitepaper and discover:
- Key findings of the study illustrating that incorporating more data can lower cycle times by 15% while also reducing attorney involvement
- An impact case study outlining the return on investment for a typical mid-size carrier after integrating more data earlier in the claims process
- Eight qualities and capabilities to look for in an data and analytics provider
Access this white paper and learn how integrating third-party data and analytics into the claims lifecycle can help you achieve competitive differentiation and increase profitability—through greater efficiency, reduced costs and increased customer satisfaction.