Insurance claims handling is cumbersome for customers and expensive for insurance companies. Insurance claims handling processes have evolved only incrementally since online customer interfaces emerged. Customers want certainty that their claims will be assessed in a timely, transparent and objective manner while the Insurers want to reduce steadily climbing administrative costs and fraud losses. Both the customers’ and insurers’ challenges are derived from current claims handling processes that rely on subjective and manual steps to verify and assess information.
Synechron’s InsurTech Accelerators built on the Blockchain builds trust by:
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