This article was written with the assistance of AI and edited by Angela Sabarese.
In a recent webinar from CLM’s Insurance 101 webinar series, industry experts Rakhi McNeill, Waldon Adelman Castilla McNamara & Prout; Kelly Geary, EPIC Insurance Brokers & Consultants; Rachel Kim, Sampo International Insurance; and Angela Cabado, Marriott Vacations Worldwide, explored the evolving relationship between claims handling and enterprise risk management.
The panel emphasized that claims management has transformed from a back-office function into a strategic driver of organizational stability. The discussion centered on how claims data, when properly analyzed and shared across stakeholders, can inform everything from underwriting decisions to operational improvements and policy renewals.
The Importance of Collaboration and Communication
A critical theme throughout the conversation was breaking down silos within the insurance ecosystem. As Kim noted, "We are now part of the solution," emphasizing that all stakeholders—insurers, brokers, risk managers, and defense counsel—must collaborate to identify trends and emerging risks. The panelists stressed that data alone is insufficient without proper interpretation and action.
Cabado reinforced this point: "The data isn't the deliverable. The decision is." She explained that risk management's role is translation—converting claims information into focused action such as training programs, process updates, or safety initiatives.
Emerging Challenges
The panel also addressed emerging challenges, particularly around technology and AI. Geary highlighted how “technology really is blurring the lines of a lot of traditional insurance products,” noting that legal frameworks struggle to keep pace with autonomous systems and new liability questions.
The overarching message was that effective risk management requires integrated approaches with shared responsibility across all parties. As Cabado concluded, this integrated approach “reduces total cost of risk” through better pricing, improved litigation outcomes, and stronger retention strategies—benefits that extend throughout the entire insurance ecosystem.