Zurich's Claims Transformation - Pegasystems Inc.
Zurich's Claims Transformation - Pegasystems Inc.
Zurich's Claims Transformation - Pegasystems Inc.
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Internal Drivers Coupled with a Difficult<br />
Marketplace Has Made <strong>Claims</strong> <strong>Transformation</strong><br />
Critical<br />
<strong>Inc</strong>reasing<br />
Process<br />
Complexity<br />
Observation<br />
• Inability to access<br />
claims data needed<br />
to detect fraud<br />
• Missed opportunities<br />
for salvage,<br />
subrogation and thirdparty<br />
recovery<br />
Implication<br />
• Fraud accounts for<br />
nearly 10–15% of the<br />
loss ratio<br />
• Missed recovery<br />
opportunities have<br />
considerable<br />
implications on the<br />
profitability<br />
Lacking<br />
Customer<br />
Centricity<br />
<strong>Inc</strong>reasing<br />
Risks: Fraud,<br />
Litigation<br />
Key<br />
Challenges<br />
for <strong>Claims</strong><br />
Organization<br />
Changing<br />
External<br />
Environment<br />
Aging<br />
Technology:<br />
Inefficient<br />
Processes<br />
Observation<br />
• Multiple<br />
disparate legacy<br />
platforms<br />
• Lack of<br />
integration<br />
with internal and<br />
3 rd party<br />
systems<br />
Implication<br />
• <strong>Inc</strong>reased<br />
claims<br />
settlement time<br />
and cost<br />
• Declining<br />
customer<br />
satisfaction<br />
levels<br />
Source: (a) Capgemini Analysis, 2010<br />
2012 Confidential, <strong>Pegasystems</strong> <strong>Inc</strong>.<br />
In collaboration with<br />
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