Technology claims: industry adapts.

June 23, 2024
1 min read



Claims Technology Adaptation in the Insurance Industry

TLDR:

Key Points:

  • Rapid advancements in Insurtech and technology have disrupted the insurance industry, particularly in claims processing.
  • The adoption of technology in claims processes, such as drones, AI, and data analytics, has improved efficiency and customer experience.

The insurance industry is adapting to the changing landscape of claims technology. The claims process is crucial for insurers to fulfill policy promises, and technology plays a key role in enhancing customer satisfaction. Lee Elliston, Aspen Group’s claims Chief Operating Officer, discusses the development and implementation of digital capabilities in the claims ecosystem. Over the past five years, significant disruption has taken place in the industry, driven by the advancements in Insurtech and data-led solutions.

Key Elements:

In the interview, Lee Elliston highlights:

  • The challenges of technology adoption, particularly around data quality and integration
  • The importance of proactive use of data and AI in the claims process
  • The role of technical expertise and talent in leveraging technology for claims processing

Overall, the industry is excited about the potential of technology, especially AI and Gen AI, to revolutionize the claims space. The focus is on using data and technology to make informed decisions, improve efficiency, and enhance customer satisfaction.


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