03 antonio derossi
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ICTI ConferenceBrijuni
1820 October 2007
Technology Innovation as a
Competitive Weapon forClaims Management
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Agenda
New frontiers in claims technology
Divide and conquer
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The sources of claims innovation
Fresh ideas (yet to become enablers)
Wireless claims applications
Accident reconstruction technology
Litigation management environment
Advanced disease management
Remote assessments
Voice biometric technologies
Predictive modeling
Convergence of
TLC, internet, TV
Increasing dataflows and directorysearches
Communitymanagement tools
Increasingcomputing power
Trends
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Wireless applications: enhance information gathering and
interaction with customers
Wireless devicescan support real-time claimssubmittal,assessment,negotiation, and
payment
Opportunity for adjusters
and customers
Impact
Higher customersatisfaction and
involvement
Faster claims
handling process Higher productivity
of assessors andadjustors
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Accident reconstruction technology: improve claims
dynamics understanding
Impact
400.000 newcustomers in 12months in Italy
Average cost ofclaims 5%
Frequency -15%
Easy to install clearbox chip installedon the car able totrack and send to acentral unit howmany km aredriven, when,where and how fast
Claims business opportunity
Attract with proper discount goodcustomer segments with lower
claims frequency Accident reconstruction algorithms Black box available for litigation
management
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Claims animation solutions: improve understanding of
complex claims and backup technical decisions
Recreate car crasheffects, providingvisual re-tracing ofimpact points, andidentify / confirm
possible injuriesresulting fromdifferent types ofcrashes
Claims business opportunity Impact
Demystify crashdata, soft tissuedamages and
resulting claimexpenses
Support litigation
Accuracy ofreserves
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Advanced disease management: improves customer well
being and reduces case cost
Remoteintensive care unithelps identify
chronic conditionsearly and referpatients to
comprehensiveprograms toimprove theirhealth and wellbeing
Claims business opportunity
Data search engines and predictivemodeling
Web community for
- 24/7 monitoring- Counseling on demand- Education
Alert on-site staff Exchange data with hospitals Drug story tracking
Impact after one year
Cardiopulmonary
arrests < 50%
Mortality of patientadmitted to program< 16%
Patient discharged
by hospitals > 22%
~ 20 lives saved
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Litigation management solutions: improve workflow of
arbitrations and legal activities
Impact
Reduction in cost of
interaction
Improved workflowof legal activities
Improved customerservice
An electronicworkspacesupportinginteraction andcommunication ofclaims handlers,assessors andlawyers
Claims business opportunity
Real-time collaboration Analysis of legal process and
impact of decision options Skill-based routing for trial
assignment Decision support tool Automated invoicing and reporting
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Tele-claims technologies: enabling on-line remote
assessments
Impact
Most motor claimssettled in
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Voice biometric technology: supports advanced
fraud detection
Analyze and
measure
physical andbehavioralcharacteristicsof individuals
Claims business opportunity
Rank claimant reliability based on Analysis of emotional state Analysis of narrative integrity Cognitive interviewing/double checks
Pushes genuinecustomers onto fast track
Reduces throughputtime and claimshandling costs
Lower leakage risk Improved service
Triggers investigation ofhigh risk calls
Impact
Better leakage control Better focus of
investigators andassessors
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Agenda
New frontiers in claims technology
Divide and conquer
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96
4
100
2005
Innovation projects
Regulatory compliance,infrastructure improvement,legacy maintenanceapplication evolution
IT investment budget (capex), percent
IT will tend to
focus too muchon costs and
businesscontinuity
The typical IT project portfolio has too little focus
on innovation
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It is imperative to understand how IT adds value
Business performance
improvement
Necessary to beatcompetition by improvingproduct, services, andperformance
New market positioning
One step ahead ofcompetitors
Turning IT into acompetitive weapon,innovating markets andservices or changing thevalue chain
Win the race
IT as business enabler
Change the rules
IT as innovation tool
Get pole position
IT as a commodity
Value Low cost, protect
revenues, limitoperational failure orregulatory liabilities
Necessary to dobusiness
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The three-part approach is very applicable in claims
Change the rules
IT as innovation tool
Win the race
IT as business enablers
Get pole position
IT as a commodity
Infrastructure mgmt Core legacy platforms
Accounting and back-office activities
Document and datamanagement
Application development
technologies
Seamless channelintegration (e.g., first
notification) On-line platform Integration with third
parties
eCFR and
performance mgmt Sophisticatedassessment tools
Teleclaims
Data search engines Voice biometric
Wireless claims Accident reconstruction Predictive analysis
tools
Virtual interactions and
negotiations
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Push IT managers to adopt a three-part budget model and
manage each part separately
100
Total ITbudget
60-70
IT as acommodity
20-25
IT asenabler
5-10
IT asinnovation
tool
Total budget
Index
Infrastructure Applications business users
are satisfied about Mandatory initiatives
Applications businessusers are not satisfied
New applications
Applications notconceived bybusiness users
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Claims executives role varies across the three parts
IT as a
commodity
IT as enabler
Businessleaders role KPI to be tracked Goals
Smart buyer Cost drivers Technology complexity Platform flexibility
Quality servicesat low cost
Managing
partner
Organisationalperformance
Times Quality
Continuous
performanceimprovement
IT asinnovationtool
Talent scout No. of ideas Brand recognitionBuild competitiveadvantage
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