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Digitalizing claims processes to improve customer experience and cut costs

Digital transformation in insurance is witnessing an uptick, and property and casualty (P&C) insurers too have upgraded their core platforms. However, claims processing automation in P&C insurance has largely failed to improve the customer experience or cut costs and settlement time. The ongoing COVID crisis has further highlighted the obstacles in seamless claims processing. Insurers are facing challenges in enabling straight-through processing, same-day settlement, and rules based automated adjudication due to siloed digital adoption. While the case for complete digitalization is strong, insurers are grappling with challenges such as complex claims, need for diverse skillsets, and the absence of a strategy that grabs opportunities for digital technology interventions in the insurance claims value chain.

To thrive in the post-COVID era, insurers must transform claims operations by:

  • Increasing process automation
  • Adopting artificial intelligence powered decision engines
  • Moving to connected digital platforms for seamless processing with limited or no human intervention
Muthu Natarajan

Consultant, Guidewire Practice, Banking, Financial Services, and Insurance, TCS

Gayathri Devi

Business Consultant, Banking, Financial Services, and Insurance, TCS

Ramesh Ramaswamy

Insurance Transformation Practice Leader, Banking, Financial Services, and Insurance, TCS


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