Industry Challenges

With the cost of claims continuing to rise within the UK’s fast-emerging ‘compensation culture’, a streamlined approach to claims management has become vital for insurers to protect their bottom-line. At the same time, quality of service is now paramount to retaining customers’ business and growing market share.

Competitive pricing and Internet-based awareness will lead some customers to switch from one deal to the next – but a quick and courteous ‘claims experience’ is fundamental to ensuring their loyalty. As a result, many insurers are looking to ‘e-claims’-style solutions to drive cost out of claims management, while enhancing customer service.

Key issues for claims directors

Companies intending to select a claims management solution face a complex set of business issues to address, especially how to:

> Enable faster and more effective first-notification-of-loss data capture
> Automate decisions earlier to enable more fast tracking
> Settle claims sooner with fewer touch points
> Reduce leakage in areas such as fraud and personal injury
> Connect up their supply chain to external providers
> Improve service and ensure it’s not impacted by leakage initiatives

To meet these needs, Sun Microsystems has teamed with its partners edge IPK, the Claims Company, Infoglide Software Corporation, and Pitney Bowes G1 software to create the 'Open Claims Alliance'.

Sun and its partners can provide a single integrated management solution for the quick and efficient handling of non-life insurance claims. Sun’s Integrated Claims Solution will lead to substantial innovation, efficiencies and cost savings for insurers, while enabling a better ‘claims experience’ for customers, helping to secure their loyalty and retaining their business.