Finding ways to improve claims servicing is vitally important for insurance companies. Claims are often a source of high operational costs for insurers and a point of direct interaction with customers. In fact, insurance companies have learned that a customer's likelihood of remaining with a carrier largely depends on his or her last claims experience.
That being said, insurance companies often struggle with a nontransparent, disconnected claims process. They often have cumbersome systems that make it difficult to keep customers informed of the status of their claims, difficult to notify them of when to expect the adjuster, and difficult to explain the company's reasoning for the payment amount. Customers are not the only people frustrated with the claims process. Often, lack of collaboration means the claims servicing workflow is inefficient and requires a lot of manual data entry.