The insurance industry has long been perceived as a monolithic institution resistant to change. However, with the increasing ubiquity of digital solutions, the industry is fast embracing technology across its functions.
Insurance providers handle claims settlement quite tactfully. Their service is judged on how fast and how accurately they settle a claim. For an insurance customer, a seamless and timely claims settlement is a key metric for assessing an insurance provider and engendering trust. However, claims management is generally a tedious process that involves multiple steps including claim review, investigation, adjustments (if required), and claim remittance/denial. |
