Insurance claims, redefined
Insurance claims can be frustrating
Insurance companies struggle to provide a positive customer experience when it comes to processing claims. Consumers need to fill out forms, sign paperwork and provide adequate evidence by uploading pictures and required documents in order to process the claim. In fact, one of the biggest customer experience opportunities that Insurance companies face today is applying process acceleration and digitization to the claims processing workflow.
In the digital age, consumers are looking for the Uber-effect. They expect goods and services to be convenient and easily accessible. According to Accenture research*, 40% of customers are willing to switch to a new insurance provider within a year. In addition, prospects are 20% more likely to make life insurance decisions when the underwriting and the application process are closed in real-time. Therefore, Digitizing claims processes can provide a huge competitive advantage.
Barriers in the claims processing workflow
The first barrier clients face when trying to file a claim is the FNOL process (First notice of loss). Accuracy and speed of the process is key to providing a memorable and positive customer experience. The current process of printing and scanning documents or visiting the insurance company’s website to fill out information may lead to a frustrating experience. Leveraging modern technologies such as instant mobile-friendly form filling and e-signature solutions can make a huge difference.
Providing a next generation customer experience to your clients
Enabling customers to complete claims on their first attempt by providing instant and integrated tools to your agents lead to process efficiencies (i.e. increase of first call resolution) and better customer experience. This is achieved by providing a no downloads required solution that enables your customers to easily fill out mobile-friendly claims’ forms, sign and attach supporting evidence such as pictures of damages. This can either be achieved in a customer self-service mode or in a real-time instant remote session with a company agent allowing customers to complete the process on the spot from any device. In addition, data validation can eliminate unnecessary errors when filling the forms and reduce costs that derive from chasing the client to fill them out correctly.
Using REACH, agents would be able to send a text message or email to the client for an instant web-based remote session or schedule such a session to a later time. The client can even see the agent’s calendar and easily coordinate a suitable time if needed. When entering the session, both parties can see the form together and co-fill and co-sign it synchronously. Some of the data can be pre-filled automatically from the back-end system to reduce time. The agent can also allow the client to upload claim pictures from his/her device or taking them in real-time and then watch them instantly to ensure that they were taken properly. This reduces the process time tremendously.
In addition, a workflow builder allows the claim to move swiftly between the claimants, agents and assessors towards adjudication and payment. Moreover, the process automation ensures that the documents are completed correctly. This leads to reduced process time and ultimately reduced overhead.
Consumers prefer to get assistance from an agent when dealing with complex processes such as claims processing**. Even when companies do provide remote assistance today in the form of a phone call with an agent or website text support, the process is oftentimes long and painful due to the lack of effective remote tools. This leads to incomplete critical forms and missing signatures and documents.
Mobile-optimized call solution reduces process friction
It’s time for insurance companies to move to a mobile-optimized call solution that would allow clients to easily complete and sign claims documents as well as to upload requested documents in real-time. Reducing friction in this cumbersome process can separate insurance companies from their competitors.
* ”The voice of the consumer: Identifying disruptive opportunities in Insurance distribution”, Accenture, 2017
** “Keeping the human element in customer service while using AI and chatbots”, Harvard business Review, September 11, 2018