Property/Casualty Claim Officer Survey: Challenges Ahead

2008 Emerging Issues and Priorities for P/C Claim Officers

In a timely and strategic shift, claim officers are looking beyond traditional budget and operational controls, to focus on more sophisticated approaches to managing claim performance results. This and other changes are captured in Towers Perrin's inaugural Update: Property/Casualty Claim Officer Survey: Key Challenges for 2008.

Conducted by our Claim Management practice, the survey explores concerns that the U.S. P/C insurance industry and claim officers are facing today along with those they view as emerging trends.

Priorities of claim departments

While claim departments have traditionally focused on productivity as a key indicator of success, a significant number of respondents are considering new priorities: who they have on board, their technical and overall claim capabilities and how they use technology. Priorities, by importance, include:

• talent management (82%)
• effective use of analytics and data (52%)
• technology (50%).

Top concerns of claim officers

A majority of claim officer respondents (90%) cite the increasingly competitive business climate, industry consolidation and convergence as their top concerns.

Not surprisingly, the second greatest challenge, according to 79% of participants, remains the traditional measures of expense and cost management.

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This survey and future claim officer surveys are dedicated to providing insights into the U.S. P/C insurance industry. Contact us if you are interested in participating in an upcoming survey or would like more information about how Towers Perrin can help you successfully influence results amid a changing landscape.