2. Digital claims management
Insurers are looking beyond algorithmic fraud detection to establish a claims model that is claims-centric and customer-focused. Their claims management is based on trust, loss prevention, mitigation and restoration. For claims prevention, they are viewing a combination of new web technologies and big data to enhance the risk selection process by combining location, external risk and analytics. Mobile and digital technology will become the primary solution for improved and effective claims management and customer service if also coupled with these improved compliance controls: