Claims processing is the cornerstone of any insurance business because it is the point at which an insurance company delivers on its commitment to its customers. Oddly enough, claims processing in the modern insurance space remains a manual, inefficient, error-prone operation.
By automating claims processing, companies can reduce the inefficiency and inaccuracy of inputting data by hand, measurably decrease Loss Adjustment Expense (LAE), and keep customers satisfied.
In a recent research report, Claims Automation: The Future of Insurance (March 2018), Aberdeen examined manual and automated claims processing in the insurance space.
