Claim costs and operations costs is by far the largest expense item in the insurance industry.
Every small inaccurate valuation and variation in the valuations among the adjusters has a great impact on claim costs. With a uniform standard, the opportunities to reduce and gain control over costs increase.
Upptec Claim Content Automation with uniform valuations means control of claim costs. Our customer use cases show reduced settlement of more than 10%.
Automation provides great gains to claims handler productivity and maximises claim process efficiency to enable allocation of resources to complex claims of higher value and risk.