Property Casualty 360 recently ran a series of interviews about claims processing technology. There are lots of great insights in there, but here's one of of my favorite quotes: “The most significant impact that technology has is that it shortens the lifespan of a claim — everything from contact to inspection to settlement time frames.” - Ken Tolson, vice president, U.S. Property & Casualty Eastern Region, Crawford & Company.
I don't think technologists always recognize how important speed is to business. There's always plenty of talk about “streamlining processes”, but that can come over as a criterion of good design, rather than a real business benefit. But the point of streamlining anything is to make it go faster. Streamlined vehicles offer less wind resistance. Streamlined processes enable businesses to cut to the chase.
Use technology well, and you can manufacture the most precious commodity: time. The original aims of automation were around reducing clerical effort and multiplying scale. Today, the challenge is to get your information moving. If it's sitting some place, it's killing time. Tolson reminds us that taking a timeline perspective is crucial to improving business outcomes.
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