THE CUSTOMER EXPERIENCE IN CLAIMS
Effective customer engagement is a core driver of insurance technology innovation. A combination of legacy systems and regulatory scrutiny has limited modern communication enhancements, and today nearly every step of a typical customer journey has room for improvement.
Nowhere is this more evident than the claims process, as reflected in NAIC data1 that consistently shows more than 60% of customer complaints are claimsrelated. There’s an element of common sense driving this, since claims are often initiated at a moment of trauma in the policyholder’s life. However, the abundance of moving parts in both customer facing communications and behind the scenes machinations is exacerbating the issue. The overall claims process regularly alienates customers and prompts them to change insurance providers. More than 80% of customers with disappointing claims experience either had switched insurers, or were planning to, according to a recent Accenture study2.