Inarguably, technology can help cut claims costs. Whether using such tools as ISO Claims Outcome Advisor® or SIU Case Manager, insurers can arrive at faster, fairer, and more consistent payments; optimize the use of limited internal resources; and refer more questionable claims for investigation. Ultimately, those efficiencies all go straight to the bottom line.
However, the savings don’t stop there. Some insurance companies have found that they can also reduce another expense — real estate.
Through the use of automated claims management systems, adjusters can work from home with a connection to the office for needed information. That translates into decreased overhead: less office space, energy, utilities, IT services and support (depending on a company’s infrastructure), and perhaps, administration and disaster recovery.
Aside from those many advantages to the insurer, claims adjusters themselves enjoy benefits: getting more done with less time behind the wheel (or on mass transit) and less commuter expense, not to mention a significant boost in morale. After all, who likes to sit in traffic?
And a happier employee tends to be more productive. Again, that benefits the insurer. Thus everyone wins, and the return on investment keeps returning.
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