--- title: The Future of Claims Expense Management description: President & CEO James Makris discusses how to the future of claims expense management. image: https://blog.vipsoftware.com/hubfs/The%20Future@2x.png --- [![Vip-Logo Banner-1](https://blog.vipsoftware.com/hs-fs/hubfs/Vip-Logo%20Banner-1.png?width=512&height=153&name=Vip-Logo%20Banner-1.png "Vip-Logo Banner-1")](http://vipsoftware.com) - [Knowledge Base](https://blog.vipsoftware.com/) - [Support](https://blog.vipsoftware.com/tickets) # VIP Software News ## [The Future of Claims Expense Management](https://blog.vipsoftware.com/future-of-claims-expense-management) Apr 8, 2021 1:56:14 PM / by [James Makris, President & CEO](https://blog.vipsoftware.com/author/james-makris-president-ceo) - [Tweet](https://twitter.com/share) ![The Future@2x](https://blog.vipsoftware.com/hs-fs/hubfs/The%20Future@2x.png?width=1200&name=The%20Future@2x.png)   Claims leakage is an industry-wide problem that has traditionally been difficult to address because of the disparate systems used to process claim files. At the confluence of this issue are the headwaters of three important trends - the rising costs of insurtechs and third-party services, a lack of transparency with vendors, and insufficient industry data to determine best practices and pricing.   Historically, our customers have deployed VIP solutions to automate traditional third-party invoice processes and verify their accuracy. The widespread adoption of VIP Software across the industry has resulted in the aggregation of rich expense and performance related data, which combined with advances in the VIP Software platform, serve to address claims leakage while positioning VIP Software as the standard in the industry for claims expense management and accurate payment. #### Arriving at Best Practices Determining best practices for pricing is not as simple as discovering the lowest price for a service. In fact, discerning between price and value can be difficult. Although price is always a priority, the value of the service being provided is ultimately what drives decisions for carriers and vendors alike. Until now, there has not been a viable solution for carriers to address the issue of price standardization which is why VIP Software’s Mimia has quickly become revolutionary across the industry, including reinsurers. Mimia empowers carriers to focus on standardize pricing through real-time data and benchmarking metrics of service providers, ultimately resulting in greater transparency of both price and value. Further transparency can be found with SLA Manager, which automates the enforcement of service level agreements and contracts. The task of reconciling individual invoices against service agreements is a slow and painful one, which is prone to costly errors and oversights. SLA Manager proactively enforces the terms of service contracts, applying them automatically to every invoice received. SLA Manager compliments the data initiatives in Mimia through visibility and transparency into vendor relationships, including identifying repeat offenders and 5 star performers who deliver services across several providers, ultimately enforcing accountability. For service providers such as Adjusting Firms and Mitigation Providers, Mimia and SLA Manager provide a substantial opportunity to shift from a state of commoditization to delivering performance based metrics and differentiation. #### The Future State Mimia and SLA Manager are just the tip of iceberg - machine learning can introduce patterns and business practices previously impossible to identify, aggregating data across the industry to prescribe contextually relevant services and best practices which can augment FNOL. Further to that, as machine learning algorithms refine best practices and service offerings, Artificial Intelligence can be injected into the platform to reduce leakage even further by making data driven decisions that take action on real-time insights and build predictive models for best practices based on historical data and real-time weather forecasts, allowing carriers to be agile and proactive about claims expense management trends before they even happen.   Tags: [Expense Management](https://blog.vipsoftware.com/topic/expense-management), [Claims Leakage](https://blog.vipsoftware.com/topic/claims-leakage) ![James Makris, President & CEO](https://blog.vipsoftware.com/hs-fs/hubfs/1575428257785.jpeg?width=100&height=100&name=1575428257785.jpeg) #### Written by [James Makris, President & CEO](https://blog.vipsoftware.com/author/james-makris-president-ceo) ### Subscribe to Email Updates - [Recent](https://blog.vipsoftware.com/future-of-claims-expense-management#tab-1) - [Popular](https://blog.vipsoftware.com/future-of-claims-expense-management#tab-2) - [Categories](https://blog.vipsoftware.com/future-of-claims-expense-management#tab-3) ### Lists by Topic - [Carrier (3)](https://blog.vipsoftware.com/tag/carrier) - [Claims Leakage (3)](https://blog.vipsoftware.com/tag/claims-leakage) - [Expense Management (3)](https://blog.vipsoftware.com/tag/expense-management) - [Hurricane (2)](https://blog.vipsoftware.com/tag/hurricane) - [Press Release (2)](https://blog.vipsoftware.com/tag/press-release) - [Time & Money (2)](https://blog.vipsoftware.com/tag/time-money) - [insurance (2)](https://blog.vipsoftware.com/tag/insurance) - [2020 Season (1)](https://blog.vipsoftware.com/tag/2020-season) - [Independent Adjuster (1)](https://blog.vipsoftware.com/tag/independent-adjuster) - [LAE (1)](https://blog.vipsoftware.com/tag/lae) - [P&C (1)](https://blog.vipsoftware.com/tag/pc) - [Procurement (1)](https://blog.vipsoftware.com/tag/procurement) - [claims (1)](https://blog.vipsoftware.com/tag/claims) - [expense (1)](https://blog.vipsoftware.com/tag/expense) - [management (1)](https://blog.vipsoftware.com/tag/management) - [property and casualty (1)](https://blog.vipsoftware.com/tag/property-and-casualty) - [record breaker (1)](https://blog.vipsoftware.com/tag/record-breaker) - [zeta (1)](https://blog.vipsoftware.com/tag/zeta) see all ### Posts by Topic - [Carrier (3)](https://blog.vipsoftware.com/tag/carrier) - [Claims Leakage (3)](https://blog.vipsoftware.com/tag/claims-leakage) - [Expense Management (3)](https://blog.vipsoftware.com/tag/expense-management) - [Hurricane (2)](https://blog.vipsoftware.com/tag/hurricane) - [Press Release (2)](https://blog.vipsoftware.com/tag/press-release) - [Time & Money (2)](https://blog.vipsoftware.com/tag/time-money) - [insurance (2)](https://blog.vipsoftware.com/tag/insurance) - [2020 Season (1)](https://blog.vipsoftware.com/tag/2020-season) - [Independent Adjuster (1)](https://blog.vipsoftware.com/tag/independent-adjuster) - [LAE (1)](https://blog.vipsoftware.com/tag/lae) - [P&C (1)](https://blog.vipsoftware.com/tag/pc) - [Procurement (1)](https://blog.vipsoftware.com/tag/procurement) - [claims (1)](https://blog.vipsoftware.com/tag/claims) - [expense (1)](https://blog.vipsoftware.com/tag/expense) - [management (1)](https://blog.vipsoftware.com/tag/management) - [property and casualty (1)](https://blog.vipsoftware.com/tag/property-and-casualty) - [record breaker (1)](https://blog.vipsoftware.com/tag/record-breaker) - [zeta (1)](https://blog.vipsoftware.com/tag/zeta) See all ### Recent Posts # About Us Insurance claims expense management — Simplified. We work closely with property and casualty insurance carriers, adjusting firms, restoration companies and contractors to automate processes that are critical to their business operations.  We identify and develop cutting-edge solutions to improve processes to be more efficient, accurate, cost effective and data driven. Our customers are insurance industry experts who trust us to solve their business problems with innovative insurance software solutions, so they can stay focused on servicing policyholders. [Learn More](https://vipsoftware.com/about) # Contact Us 813-837-4347 [info@vipsoftware.com](mailto:info@vipsoftware.com) 6000 South Florida Ave, Unit 6832 Lakeland, FL 33807 Copyright 2026 | Designed with by [HubSpot](https://www.hubspot.com)