Data: The Foundation of High Performance Claims Handling
In a newly published white paper, independent research firm Aite Group states that insurance companies can save approximately 15% of loss costs and LAE by more effectively using technology. Critical to this cost reduction is utilizing innovative technology to analyze the full universe of claims data – especially unstructured data in free-form text and scanned documents. This provides greater insight into how every dollar is being spent so that insurance companies can minimize wasteful activities that do not improve claims outcomes.
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