P&C insurers are looking for ways to automate and improve the claims experience for policyholders. From payment & disbursement to fraud analytics, we rank the top technologies helping P&C leaders evaluate and settle claims more efficiently.
The claims experience is the primary way many customers interact with their insurer. While a positive experience can lock in a customer for life, a bad one can lead them to switch insurers. At the same time, the claims process is growing more complex and costly for insurers.
Claims evaluation & settlement solutions are helping insurers gain insight into their claims, ultimately enabling them to automatically settle simple claims and shift resources toward more complicated tasks.
In this report, we evaluate 10 tech markets that P&C insurers should monitor, vet, and prioritize toward this effort, including:
- Cargo & asset tracking
- Catastrophe modeling
- Claim assessment analytics
- Claims management
- Content valuation
- Fraud analytics
- Medical bill review
- Payment & disbursement
- Robotic process automation (RPA)
- Settlement & subrogation
This report examines tech markets across P&C insurance using the MVP framework. This methodology scores top tech markets across two metrics:
Market momentum — Measures private market activity as a signal of the degree of overall market potential. Signals include the number of startups, the amount of capital invested, and the relative maturity of startups in the space, among others.
Industry leader activity — Assesses the degree of tech market involvement among established industry players. Signals include CVC activity, industry and executive chatter, and patent filings, among others.
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