Maximizing Results in Claims Compliance White Paper
  • Insights

  • Maximizing Results in Claims Compliance

    WP-MaximizingResultsinClaimsCompliance-Thumbnail Presented with a complex and ever-changing regulatory environment, insurance companies all too often experience non-compliant claims processing. This occurs for a number of reasons: the body of regulatory content that applies to Claims is immense and dynamic; regulatory requirements can vary considerably from jurisdiction to jurisdiction; transforming legal information into a useable form for claims practitioners requires extensive internal resources; historically, the tools available to claims personnel are ineffective for their needs.

    Recent research shows that failing to effectively respond to these challenges carries with it sizable and quantifiable costs that many managers fail to appreciate. These costs include the millions of
    dollars paid as part of market conduct exams and their findings, lost customers and revenue opportunities due to improper claim handling, and costs of internal resources used to monitor and analyze regulatory content.


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