P&C Insurance Claim Officers Say Loss Cost Containment Is Primary Goal
2014年11月19日 - 11:05PM
ビジネスワイヤ(英語)
Proactive P&C claim handlers are the first line to
achieving superior claim outcomes
Chief claim officers (CCOs) from U.S. property & casualty
(P&C) insurance companies said loss cost containment and
delivering superior customer service are their top claim
operational goals, according to a new P&C Claim Officer Survey
conducted by global professional services company Towers Watson
(NYSE, NASDAQ: TW). Eighty-nine percent of the CCOs ranked loss
cost containment as either their primary or secondary claim
operational goal, followed by delivering superior customer service
(71%).
Survey respondents also emphasized the importance of proactive
claim handling. Eight in 10 (83%) of respondents said it is the
most important driver in delivering effective loss containment,
while the same percentage indicated proactive claim handling is
also the primary factor in delivering superior first-party claimant
customer service. Further, CCOs expressed that proactive claim
handling is key for delivering superior allocated loss adjustment
expense (ALAE) efficiency (69%), though they named effective
litigation management (89%) as the top consideration for ALAE.
“Claim officers recognize the success of their organization
comes down to people first and foremost — and that starts with the
claim-handling staff,” said Frank Ramsay, Towers Watson’s North
American claim management practice lead. “According to the survey’s
findings, CCOs say their claim handlers have extensive technical
expertise and experience, and generally are empowered by their
supervisors to deliver superior claim results. However, claim
organizations also have several competing priorities that take file
time away from their claim handlers, which in turn detracts from
their highest priority: managing the files they have been
assigned.”
The survey identified the top barriers that claim handlers face
to achieving superior claim outcomes on individual claims. Passive
claim handling (77%) topped the list, followed by ineffective
supervision (60%). In order to address the potentially damaging
ramifications of passive claim handling, respondents emphasized the
importance of empowering their claim-handling staff to settle most
of their claim inventory within their own authority. The majority
of CCOs (86%) said their claim handlers do not need additional
permission to settle claims within their authority, and nearly
three-quarters (74%) said most of a claim handler’s inventory falls
within the handler’s settlement authority.
“Supervisors that empower their claim-handling staff to take
charge of their claim inventories can really deliver value and
reduce passive claim handling. As the survey results showed,
passive claim handling is the top barrier to achieving superior
claim outcomes on individual claims. Supervisors should actively
work with claim handlers to address and eliminate the factors that
enable passive claim handling, such as misplaced priorities and
focus, overreliance on process and disengagement,” said Ramsay.
CCOs also revealed the primary challenges their claim handlers
face in delivering superior claim outcomes. Respondents named
insufficient understanding of leading indicators and metrics (46%),
high levels of inventories and caseloads (43%), and lack of
sufficient technical expertise (40%) as the primary challenges.
“More investment is needed to ensure claim handlers have a better
understanding of the metrics their companies deem important for
managing cases and containing costs. Insurers should also make sure
caseloads are reasonable so claim handlers can devote the necessary
time and effort needed to actively look at claims rather than
provide only perfunctory treatment,” said Ramsay.
About the Survey
This is the ninth installment of Towers Watson’s Property &
Casualty Claim Officer Survey, which examined how insurers are
benchmarking claim department performance and delivering optimal
claim outcomes. Thirty-five chief claim officers participated in
the survey, which ran from June 3 through July 11, 2014. Respondent
demographics represent a good cross section of the U.S. market.
While there are slightly more large carriers by premium volume,
small and midsize carriers are also well represented. Over half the
responding companies are predominantly commercial lines
carriers.
About Towers Watson
Towers Watson (NYSE, NASDAQ: TW) is a leading global
professional services company that helps organizations improve
performance through effective people, risk and financial
management. With 15,000 associates around the world, the company
offers consulting, technology and solutions in the areas of
benefits, talent management, rewards, and risk and capital
management. Learn more at towerswatson.com
Towers WatsonMedia Contacts:Josh Wozman,
+1-703-258-7670josh.wozman@towerswatson.comorBinoli Savani,
+1-703-258-7648binoli.savani@towerswatson.com
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