From the perspective of both insurers and vendors, technology offers the greatest potential for improving the claims adjustment process and reducing claims costs and operating expenses. A better solution would be a multiparticipant claims portal. Such a solution would maximize the impact on the overall claims process and efficiency, while at the same time minimizing the costs and risks associated with a proprietary solution. The portal will drive efficiencies through the claims process and ultimately translate into an improved bottom line for insurers. It can be defined as a Web-based, single point of contact for adjusters to communicate electronically in real-time with their partners, vendors and other participants throughout the claims handling process, while at the same time optimizing workflow.

Property & casualty insurance
Insurance claims
Advantages