Delivering next generation claims operating model for general insurers

Operating models answer a very fundamental, yet most substantial question: How to deliver profitable and differentiating services to customers. Amid changing customer expectations, a rapidly evolving digital technology landscape and altering cost and profit bases, executing a strategically aligned, “fit for vision” operating model has always been a taxing goal for insurance leaders. Before we discuss transformation initiatives, however, let us first define the construct of an operating model.

Organizations are complex systems that deliver value. An operating model breaks this system into components – such as people, process, technology, location, suppliers and customers – showing how it works. It helps leaders identify key focus areas and problems that are causing underperformance and need investments to thrive in future. Insurance Chief Experience Officers (CXO) address key focus areas consistently to formulate and execute holistic strategies for growth and improvement.

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