Industry-analyst forecasts, trend studies, and other business intelligence give us a glimpse of future opportunities, as well as competitive challenges. But, calculated investments and strategic business plans are typically executed in advance of insurance industry studies. Consequently, reading published trends reports can be quite like a casino experience where you’re waiting for the dealer to turn the next card.
Today, we like how the cards played out. According to Novarica, commercial insurers continue to make investments in key technology systems. Listed among the Top 4 Tech Priorities is Core Claims Systems. Below is an excerpt that caught our attention.
While Novarica says carriers upgrading their claims-admin systems are realizing “substantial benefits,” the study notes that other insurers are “taking a more gradual approach.” Novarica contends, though, that carriers using modern systems “are rapidly gaining competitive advantages” and are achieving better outcome management.
The bolded words above sound to us like a loud repeating echo, however this time it’s not ClaimVantage shouting this truth. When your ears stop ringing these enviable words, call us and we will show you how to experience the real benefits of “competitive advantage” and “better outcome management”.