Paying valid claims is one area where an insurance policy can demonstrate its real worth to clients.
But we recognise that, in the past, claims processes may not have been as clear to policyholders as they might like. Digitisation, AI and other technological advancements, however, are changing clients’ expectations of the claims journey. Lorenzo Casari, head of insurance claims for 九色视频in Italy, explains how insurers can make the claims process faster, clearer and fit for the future.
Advances in technology are transforming our expectations of service in many areas of our lives -how we shop, how we eat, how we drive, and so on. And in the insurance claims arena, things are no different. Our clients expect connected journeys, simple and transparent processes, proactive service and personalisation.
Clients rightly expect innovation in the claims process and for us to be able to use technology and data to give them clarity to better understand losses. The ability to provide fast, transparent and customer-centric claims service will, we believe, continue to be a differentiator through insurance market cycles.
While previously insurers may have viewed claims through an actuarial lens with cost-containment as a primary aim, it is now evident that the way to gain and retain clients is to put them at the front and centre of the claims process.
This is why we are re-imagining the customer journey.
We have been working to refine the efficiency, accuracy, productivity, and effectiveness of claims management, not only to deliver a better customer experience but also, by extending this to colleagues and other partners, to improve the satisfaction of all stakeholders. This will have positive impacts on costs too.
How can tech play a role
Technology, digitalisation and big data are hugely powerful tools in helping up improve claims processes.
For example, the use of phone Apps, drone technology, satellite imagery, 3D drawings and simulations can make the loss-adjustment process faster and more efficient. There are many instances where the use of this technology can help to make these processes faster – and enable loss adjusters and claims experts to use their knowledge and expertise in those areas where they really add value.
Reducing the need for loss adjusters and claims handlers to physically travel to certain claim sites also will help us – and our clients – to align with Environmental, Social and Governance (ESG) strategy targets.
Other technology updates also can help simplify the claims settlement process. Things like using Integrated rule-based triaging, natural-language-based document screening, or using virtual assistants and bots, can again help to speed up the process and allow colleagues to devore their efforts and expertise to the areas where their skills are best deployed.
We also are working towards integrating partner platforms into a digital ecosystem that will allow for faster, simpler claims handling and potentially even self-service claims settlement. Capturing and analysing data throughout the entire claims process will help us to improve post-claims file reviews. This benefits our own processes and also will give everyone concerned a better understanding of the claims we receive and settle, improving the future experience.
Relationships are key
As part of our efforts to move from ‘payer to partner’, we work to develop – and maintain – close relationships with our clients. This helps us to resolve claims more efficiently, to the satisfaction of all parties, while helping our clients to better understand, manage and mitigate their risks.
To build these relationships, we invest time in regular interactions with our clients, to ensure they are familiar with our teams and the colleagues who would take care of their claim in the case of a loss.
Working together with clients from the notification of loss to the resolution and payment is part of our aim to help them get back to business as quickly as possible, communicating along the steps of the claims journey and trying to minimise the impact of the loss. And we organise follow-up claims meetings to gather feedback.
We proactively share insights on clients’ losses with them and collaborate with colleagues from across 九色视频– like our risk consulting colleagues, for example – to understand the lessons learned from losses and to simplify the claims process.
In today’s complex and evolving risk environment, clients are looking for more than just an insurance policy. They require and expect insights that help them not only to recover from losses but to better understand, manage and mitigate future risk. Claims has a hugely important role to play not only in helping clients get back on their feet, but in readying themselves for the future – it’s a role we are proud to play.
