The speed at which COVID-19 is impacting the economy is unprecedented. Like many businesses, most insurance companies are trying to adapt to the “New Reality” and fine-tuning their business models and processes with the goal of serving their customers in this challenging environment while at the same time ensuring the ongoing safety and health of employees. Claims processing being a key division of insurance will see an adaptation of claims virtualization for faster and safer hassle-free automated claims processing.
The article on “How to better manage P&C claims amid social distancing” published by Propertycasualty360 explores why insurers should implement virtual claims handling to reduce cycle times, improve customer experience, and reduce costs. How P&C insurers approach and respond to these challenges will influence their resiliency and ultimately how they will fare.
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