Having seen a number of really exciting innovations in the Claims space, I have taken some time to consider the potential impact of digitalisation on the claims workforce. I am also drawing on my own experience of working in Claims in the past, and also from engaging with traditionalists and innovators in the Claims arena.
One of the over-riding themes of the evolution that is InsurTech has been better engagement with the customer. I mention this, as traditionally there have only been a few points during a policy’s lifecycle that the Insurer/Broker has contact with the Client: most notably Renewal and Claim (although not to forget mid-term adjustments); and it is at Claim where the process is significantly more emotive for the customer.
In fact, insurance customers don’t really buy an insurance policy – they buy the confidence that their claim will be settled when they make it. The policy isn’t really any protection (imagine trying to stop flood waters with a few sheets of A4…), but a quality claims process can return the customer to the situation they were in before an event, quickly and painlessly. With so much effort being made to streamline processes, is rapid claims resolution the same thing as quality of service?
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