A request for industry feedback from Research In Insurance
"There’s no point looking backwards at the industry’s BI woes” These were the words of Economic Secretary to The Treasury, John Glen as he addressed online delegates, earlier this week.
Mr Glen went on to add that the insurance industry ‘will play a very significant role’ as the UK emerges from the coronavirus lockdown, but that it must look to the future rather than mull on past grievances.
Looking forward is indeed the way forward but we can’t pretend the past hasn’t happened. If the last 12 months has taught us anything, it is that understanding and improving a customer’s claims experience is critical to enhance the industry’s somewhat tarnished reputation. So, what of the claims journey? What needs to happen to ensure the claims sector is looking forward? Investing and acting now to prepare positively for the future?
With the growth of game changing technologies and Insurtech, traditional claims handling methods needed to adapt. A customer-first service is crucial to build and maintain trust.
We have witnessed the digitisation of some parts of the claims process – real time payment of claims, no-touch claims resolution – but it has not been the wholesale transformation the purchase process has witnessed where there is a consensus about the nature and the purpose of that transformation.
Speak to any number of insurers and they will tell you the digitisation of the sales process is all about UX, speed of completion, use of AI to filter and focus on the best risks and using data to tailor the products and services to individual clients.
Is there an equivalent consensus for claims?
Are we seeing a transformation or an ongoing tweaking process? Are current digital processes designed to improve the customer or the insurer experience? Do insurers even know?
Following a series of 32 in-depth interviews at the end of 2020 with senior claims professionals at insurance companies, broker and MGAs, Research in Insurance has launched The Evolution of Claims study and we urge you to have your say.
Your help please
To help the claims sector prepare positively for the future, identify the collective need for change and ensure claims is at the heart of any customer service metrics, we’d appreciate your input, and you can take part by CLICKING HERE
- The survey should take no longer than 20 minutes to complete
- As a thank you for completing, you will receive a £10 Amazon voucher or a donation to your chosen charity
- Please note that only fully considered and genuine responses will be reimbursed
- Your responses are completely confidential, and we will only report results on an aggregate basis
- This is strictly a research exercise and no follow-up calls will come as a result of your participation