According to recent research from industry analyst, Novarica, more than 40% of life insurers are busily replacing or majorly enhancing their most important systems, including portals, underwriting, policy admin, claims, billing, and BI, with claims receiving the highest percentage of total replacement of any other category.
Despite the apparent need, a compelling business case for a system replacement is almost always required in order to justify and prioritize getting a new claims management system in any organization. The approach to such a business case involves assessing the current business process and its performance, designing the future process, identifying the business benefits and finally calculating the ROI. Many companies have already started to see substantial returns from replacing outdated legacy systems with modern claims technology.
This webinar, through a blend of slides and system demonstrations, goes beyond general ROI concepts and details life claim specific functions and metrics that can go into helping you to build your own business case and estimate the kinds of returns your organization could achieve.