Claims Management Lacking
Tuesday, July 24th, 2001 Risk ManagementImproving the corporate bottom line may be every executive’s ambition, but when it comes to addressing the most costly portion of insurance services--claims handling--insurers appear to be coming up short, a new survey revealed. When it comes to the claims process and loss adjustment expenses, a survey by the claims consulting firm Accenture found that companies devote an inadequate amount of resources to the function. The survey by the Chicago-based firm was released during the recent annual conference of the New York-based Risk and Insurance Management Society. The five-year study was based on an analysis of over 7,000 settled claims and interviews with some 3,000 claims personnel in North America and Europe, G. Victor Guyan, a partner in the firm, said in an interview at the RIMS conference.
