"Overall, survey responses make clear that the majority of these organizations are falling behind in their quest to improve operational efficiency, and that a lack of process standardization and strategic vision is the primary obstacle to future transformation efforts."

Laura J Hay, Global Head Insurance KPMG

Hay goes on to describe approaches to remedy this shortfall. Initiatives and transformations critical to success include: -

  1. Operating model and process redesign
  2. Distribution
  3. Legacy systems
  4. Alternative sourcing
  5. Intelligent automation.

Many insurers have also found an answer in the digital claims platform 360Siteview. Over 3.6 millions claims processed have proved the operational improvements achievable today. These are summarised below with references.

Customer Satisfaction

  • From FNOL in days and hours to minutes; 35% of customers will transact direct from the web if provided with an option to report online 360GN
  • Of the balance who may still call then over 95% can be engaged in a digital process with call handling time reduced by 66%360GN
  • Claims life-cycle reduced by minimum 40% 360Globalnet (360GN)
  • Increase in Net Promoter Score by 20 or 30 points McKinsey & Company
  • Average of NPS 77% over all Home & Auto customers, 82% in Pet 360GN


  • 30% reduction in cost of claims McKinsey
  • Digital Lean Initiative leading to cost reductions of 15% Boston Consulting Group (BCG)
  •  Digital customer journeys yielding cost reductions up to 20% BCG
  •  From 20% of call centre calls being “what’s happening” to 50% drop in status calls McKinsey
  • Up to 70% reduction in call centre resource requirements 360GN
  • 60% Reduction in FTE staffing Boston Consulting Group
  • 5% to 20% reduction in expense ratio McKinsey
  • Up to 50% reduction in processing time per claim LexisNexis
  • Total Cost of Ownership reduced by 20% to 30% McKinsey
  • 3 points to 5 points reductions in combined savings ratio Bain & Company


  • 5%-15% Annual Revenue Growth Bain & Company
  • Using data prefill at FNOL 14% improvement days to pay for PI LexisNexis
  • 3 points to 5 points reductions in combined savings ratio Bain & Company
  • 1 to 4 manual touches removed from claims process LexisNexis
  • 1 to 15 day reduction in processing time per claim LexisNexis
  • 3 to 10 times more cases processed per adjuster LexisNexis

Finally, the bane of all CTOs and CIOs; the multiplying cost of multiple platforms and digital initiatives. The only way to avoid escalating costs is to insist on a price structure that is a PAYG or Subscription pricing model which require no major Capital Expenditure by the Insurer. And that does not require that you replace today’s legacy core systems; rather that you do so at a time of your choosing when convenient and cost-efficient.


“Revolutionising Insurance Claims “ https://www.360globalnet.com/en

“Time for Insurers to face Digital Reality”.  https://www.mckinsey.com/industries/financial-services/our-insights/time-for-insurance-companies-to-face-digital-reality

“Capturing Value from the Core” ;https://www.mckinsey.com/industries/financial-services/our-insights/capturing-value-from-the-core

The P&C customer rediscovered through analytics; https://www.bain.com/insights/the-p-and-c-customer-rediscovered-through-analytics 

Digital Disruption in Insurance: Cutting through the noise ; https://www.mckinsey.com/industries/financial-services/our-insights/digital-insurance

How a Digital Approach is improving customer satisfaction at a major insurer ; https://www.bcg.com/en-gb/industries/insurance/digital/bcg-digital-approach-improving-customer-satisfaction-productivity.aspx 

Attacking complexity in Insurance Products and Processes;  https://www.bcg.com/en-gb/industries/insurance/attacking-complexity-in-insurance-products-and-processes.aspx

 2019 Future of Claims Study LexisNexis- balancing claims automation and empathy https://risk.lexisnexis.com/insights-resources/white-paper/2019-future-of-claims-study