The Deposition Service Provider’s Role in Trimming Insurance Industry Expenses
Back in 2017, we wrote about the impact that modern deposition management services can have on the leading impediments to insurance company profitability: unallocated loss adjustment expenses (ULAE), allocated loss adjustment expenses (ALAE), and losses paid out to claimants.
Today, as the world emerges from the COVID-19 pandemic and into an era of uncertain insurance industry exposure to business and personal losses stemming from the disease, the need to control costs wherever possible has never been more urgent.
The good news is that, with data analysis tools that are now widely available, litigation costs can be effectively managed and minimized by insurance companies with the determination to do so.
Without a doubt, the litigation outlook for the insurance industry is trending upward.