Insurance companies around the globe are refocusing their efforts to improve overall operational efficiency, squeezing costs out of the system without impairing the overall customer service experience.
Our practical industry expertise enables us to assist businesses identify fundamental and lasting improvements in operations. Since the specifics of a firms’ business model and service offerings vary, we explore a spectrum of potential operational efficiencies.
For many general insurers, the goal has been to create more competitive, flexible and scalable claims operations. While some have seen bottom-line benefits from improved claims handling and reduced expenses, the benefits have often been limited by a siloed approach; that is, too many insurers have invested in “point” solutions that don’t fully integrate processes or data flows for optimal process efficiency and effectiveness.
Outsourcing: how to make it a success 2011 was a tough year for insurers and with slow economic growth, low interest rate and changing capital requirements; 2012 will continue to be a challenging one. To combat these challenges and put their profitability on a firmer footing, management is turning its attention to cost reduction initiatives.
Toward effective governance of financial institutions Much has been done to improve governance at the world's largest financial institutions but in its recent report, Toward Effective Governance of Financial Institutions, the Group of 30 said improving corporate governance across the industry at large is a matter of great urgency.
Delivering results through claim technologies How well are insurers achieving improved claims management through their investments in claims technologies? Our survey shows which areas insurers need to invest in to see improvements. See also our webcast.
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