LexisNexis conducted an online survey of U.S.-based property and casualty insurance companies between June 16 and July 2, 2015. The survey focused on internal professionals handling litigation for the carriers, whether in the Claim or the Law Department. A total of 86 respondents, whose titles included VP of Claims, Attorney, Associate/General Counsel, Staff Counsel, Head of Litigation and others, responded to the survey. The outside counsel spend of the companies surveyed ranged from less than $10 million to more than $500 million.
Property & Casualty (P&C) insurance claims departments are under unrelenting pressure to maximize operating efficiency in their efforts to balance costs, help prevent fraud, and keep expenditures down.
Through our survey, we wanted to answer some key questions about the cost-savings initiatives used by P&C carriers, including:
What cost containment initiatives are P&C insurance companies implementing?
Which do they consider most effective?
And, what other measures do they plan to implement?
Complete the form to the right to get your copy of the full report and see the full-size scorecard.