Episode #69: Evolution of the Insurance Claims Process

Guest: Tim Christ

Tim Christ, Vice President of Growth for Claimatic, joins Dr. Bill Kanasky, Jr. to talk about how the insurance claims process has evolved over time. Tim provides some background on Claimatic, an intelligent decisioning software that automatically and quickly triages, routes, and assign thousands of claims in complex workflows and then shares how the claims process has evolved from highly manual to the use of more technology, albeit at a slow pace. Tim comments on how some in the insurance industry have begun to place more emphasis on improving the customer experience and the benefits to client retention and reducing churn. He talks about how some insurance companies have begun leveraging data to realize savings by speeding up payments on certain types of claims and what the concerns are with the broader use or adoption of technology by insurance companies. Lastly, Bill and Tim discuss the effects of COVID-19 on litigation and their thoughts and predictions on how companies will manage their workforces as they are able to return in-person to offices and what that means for continuing to work remotely or hybrid models, etc.