Are You Ready for the Claims Class of 2013?

By Michael Rivers December 12, 2012

As 2012 comes to a close, it’s natural to think about what the New Year will have in store for us. In property/casualty claims departments across the United States, 2013 is likely to bring new staff. According to a recent survey by Accenture, as reported by Insurance Networking News, 68 percent of claims executives are planning to hire claims professionals over the next year. And that raises two interesting problems.

Graduation

The first is talent availability. Twenty-six percent of the survey’s respondents indicated they may have recruiting challenges. The coming retirement of baby boom–generation claims adjusters will further constrain this talent market, if not next year, then the year after. Net new hires will come on top of replacements.

The second problem derives from the first. A dearth of experienced talent will force insurers to find new ways to make junior and new experienced claims handlers more effective. Training and technology, of course, will be crucial, especially as this effort is paired with an ongoing commitment to fair, fast, and consistent claims settlement.

ISO Claims Outcome Advisor® (COA™) can help you get more value from your 2013 claims hires while also improving the consistency and accuracy of your claims settlements. COA services — including ISO Liability Advisor ®,ISO Injury Advisor ®, and ISO Subrogation Advisor — help ensure that adjusters ask the right questions and arrive at settlements consistent with your company’s payment history for similar cases.

The ISO COA suite is not a substitute for claims adjuster judgment and experience. While it does help everyone from new to seasoned adjusters, the platform does not “automatically adjust” for you. However, it can accelerate learning and results for new hires, and as they grow in the profession, their use of ISO COA will mature.

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