Digital Insurance - - 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.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.