6Insurance Business Review Nov - Dec 2022Editor's NoteNew Era in Claim AdjudicationThe demand for expert claim adjusting services is an ever-present one. As insurers, claimants, and policyholders seek modern and efficient claim adjusting services to settle the rising number of claims in a post-pandemic recovering economy, the claim adjusting market is growing in tandem. The insurance claims adjusting market has become worth $274.2 billion in 2022, experiencing an average growth of 3.9 percent per year. This market growth is propelled primarily by the pandemic, with rising consumer claims settlement suits for handling business losses brought on by the recession and health insurance claims caused by high medical expenditures. Faced with an enormous amount of claims, insurance carriers are seeking ways to ensure faster claims resolution with minimal liability to themselves, driving market growth. Increased regulatory requirements for the employee benefit fund and downstream insurance markets are further anticipated to aid market growth.This edition of Insurance Business Review shines light on the key developments in the claim adjusting space and how insurers are leveraging the latest solutions and services to drive efficiencies in their claim adjudication operations. It features thought leadership articles from Laurie Pierman, Vice President of Claims Operations at Amerisure Insurance and Kosta Biris, Head of Claims Australia, New Zealand at HDI Global Specialty SE. They speak about the increasingly important role played by text messaging in facilitating ease of communication between adjusters and claimants, and the need for insurers to create digital strategies that connect policyholders to insurance brokers, partners, and administrators for streamlining the claims process.The edition also features Cross Country Adjusting, a claim adjusting firm that brings a team of experienced, trained adjusters along with cutting-edge claims management technology to streamline and enhance the claims handling process. In this edition featuring top claim adjusting firms, we hope you find the appropriate company to serve your claims adjudication requirements.Let us know your thoughts!Copyright © 2022 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.Managing EditorPamela Morgan*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffEditorial StaffAaron Pierce Ava GarciaAlex D'Souza Abhinov PunnakkalJoshua ParkerSarah FernandesVisualizerNov - Dec 2022, Vol 02 Issue 04 (ISSN 2837-1763) Published by ValleyMedia, Inc. To subscribe to Insurance Business ReviewVisit www.InsuranceBusinessReview.com Email:sales@insurancebusinessreview.comeditor@insurancebusinessreview.commarketing@insurancebusinessreview.comAsher BlakeRaven McguireManaging Editoreditor@insurancebusinessreview.com
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