Trends Report

Digital Claims Management Will Protect Your Customers — And Your Financials

October 15th, 2019

Summary

Insurers are digitizing claims to reduce the cost of claims and prevent customer attrition. Claims analytics, fraud detection, and self-service options top insurers’ priorities for improving the claims experience. AI-enhanced claims processing, claims analytics, and claims fraud detection will transform claims management by delivering accuracy, speed, and certainty to the claimant. Zurich Insurance slashed claims costs and improved recovery times in US workers compensation insurance by using predictive analytics. AXA’s machine-learning- and AI-powered fraud detection tool Sherlock improved fraud detection threefold. To enable claims automation, claims handlers need to capture and turn operational data into analytical data.

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