APQC - Property and Casual Insurance
The property & casualty insurance landscape features high levels of competition, regulation, and new customer expectations that are stoked by the new insurtech companies on the market. As customers seek to work with an insurance company that is agile and supports omnichannel communication, the traditional property and casualty insurance providers are faced with a process challenge. The property and casualty claims process involves receiving, processing and approving/denying property and casualty insurance claims. This process includes damage review (losses recorded, loss verification, etc.), assessment of coverage, field inspection (if necessary), adjustments, payment request (if approved) and client notification. Luckily, Mavim and APQC have joined forces to provide a world class process framework for the property and casualty insurance business that is embedded in the Mavim platform.
By leveraging the APQC property & casualty insurance process library in Mavim, business leaders will be able to:
Establish a common language for measuring and evaluating all business processes.
Identify the fits and gaps in current ways of working that lead to increased costs and longer lead times.
Visualize and communicate the impact of process change in the context of the broader operating model.
Drive continuous improvement by visualizing, measuring and monitoring best practice processes in an easy-to-use, Microsoft-based platform.