An insurance claim is a formal request to an insurance company asking for a payment based on the terms of the insurance policy. The insurance company reviews the claim for its validity and then pays out to the insured or requesting party (on behalf of the insured) once approved.
For years, insurers competed on price instead of maximizing value for their customers. Today, industry disruptions have raised customer expectations and amplified the need for accelerated digital transformation. Meeting these challenges will require new capabilities that improve offerings and experiences at speed and scale. To do this, insurers will need an open-cloud architecture with AI-based process automation that is secure, compliant, and freely integrates third party data without the worries of lock-in.
Is your company on the path to digital insurance transformation? Explore how modernization in digital experiences, flexible operations, and open cloud strategies can meet your evolving business needs and satisfy consumer demands.