Senior Director, Claims, Auto Insurance
What is the role of claims in the customer experience?
Most would say that claims is where the promise of a policy becomes reality for customers; sometimes a very jarring reality. As noted in the annual J.D. Power Claims Customer Survey, a consumer’s claims experience can have great bearing on a carrier’s ability to retain and acquire customers. In recent years, customers’ have raised their expectations concerning communications with and service from various companies. Insurance carriers must keep up with today’s expectations by expanding their digital capabilities and streamlining their processes to meet today’s customer expectations and maintain their competitive advantage. Nowhere is this more important than in claims processing.
Do digital claims technologies really create a win-win scenario for insurers and their customers?
Insurers must face the reality that they need to create a positive experience for both their external AND internal customers. External customers expect flexibility during their interaction with the company. They also assume that companies will have technologies in place to best serve them. Insurers who meet these expectations have a higher chance of both retaining and attracting customers resulting in lower operating costs and higher revenues. Concurrently, today’s workforce expects that employers will have the advanced technologies needed to perform their assigned tasks and service customers. Insurers that do not provide staff with the best technology could lose quality employees to other firms that do. Therefore, insurers who invest in updating and expanding their use of technologies, along with data and analytics, will garner higher internal and external customer satisfaction, and see a reduction in operating costs and increased revenues.