💥Improving claims in insurance from both the insurer's and customer's sides are a complex problem.
Why? Because the two have competing outcomes: the insurer wants to avoid claim payments, yet the customer wants to receive a payment.
💡How do you solve these competing goals and outcomes?
By applying the Decision-Centric Approach® and you can improve the claims so that both parties are satisfied.
Below👇 are the steps to solve this complex problem using Decision-Centric Approach to improve claims
– Identify the KPIs that are important: Claim Ratio, FTE1000, Cost Per Claim and NPS
– Identify the next problems, bottlenecks, and challenges areas that influence the KPIs: STP ratio, NOL Quality, and Pay Accuracy
– Identify the decisions that are related to the problems: Dispute Resolution decisions
– Frame the decisions: decompose Dispute Resolution decision
✨The Decision-Centric Approach® allows insurers to understand exactly what decisions to improve and how to improve them, ensuring the operation metrics are enhanced in the right direction. Therefore, they improve the business KPIs and, consequently, improve the outcomes from multiple aspects.
💣Not a big-bang approach, massive cross-organization digital transformation, etc. Invest in ROI. By applying Decision-Centric Approach®, you can improve the outcome of business decisions consistently over time and increase customer satisfaction, reduce operation costs and increase market share.
🚀To learn more about all use cases such as underwriting, pricing, claims, policy admin eligibility and etc. visit https://lnkd.in/gievp_dN
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Published December 26th, 2025 at 07:30 am
