How Agile Technology Supercharges Insurance Claims Processes

Modern information technology means two things for today’s insurance carriers: It means they have access to capabilities that can transform their business. It also means that failing to leverage those capabilities will cause individual insurance businesses to be left in the dust.

This is the nature of innovation. Insurance carriers that wish to remain competitive must embrace it.

During a recent Insurance Nexus webinar, insurance-industry thought leaders Amrish Singh, head of products for Metromile, Eric Spencer, chief claims officer for Ameriprize Financial, and Bryan Falchuk, founder of Insurance Evolution Partners, motivational speaker, coach and author of “Insurance Thought Leader,” addressed the power afforded by modern insurance claims technology.

Falchuk warned against several pitfalls that can hold companies back from modernizing. These include dwelling on bad experiences with new tech and being overwhelmed by project scale, among others.

“With a new generation of tools at our disposal, we have the ability to move the needle and really innovate in some exciting ways,” he said.
Falchuk added that investment in claims optimization technologies is key to insurance innovation.