Technology-Based Industrialization of Claims Management in Motor Insurance
Journal
BIT Banking and Information Technology
ISSN
1615-0252
Type
journal article
Date Issued
2010-10-13
Author(s)
Baecker, Oliver
;
Bereuter, Albrecht
Abstract
Over the past years, German motor insurers have been facing growing competition from in- and outside the industry (e.g., car manufacturers, automobile clubs). Together with a growing pricing pressure on insurance premiums, their combined ratio increased from 94.5% in 2004 to 101.6% in 2008. This indicates that cost savings and process improvements in claims management have a great impact on the KPIs of insurers. While insurance companies are under pressure to decrease costs, customers lack adequate assistance when it comes to an insurance claim. Against this background, we present an analysis of today's claims management process in motor insurance and describe four technology-based process improvements. In order to realize the process improvements, a service-oriented architecture is presented and the implementation of a demonstrator illustrates our solution. Finally, we propose business value metrics to measure the effects linked with each process improvement.
Language
English
Keywords
Claims Management
Motor Insurance
Mobile Technology
Industrialization
HSG Classification
contribution to scientific community
Refereed
Yes
Publisher
Ibi Research GmbH
Publisher place
Regensburg
Number
2
Start page
65
End page
74
Pages
10
Subject(s)
Division(s)
Eprints ID
69711