In Part 1 of FRISS’ synopsis from the Insurtech Insights webinar, The Principles of Claims Efficiency, I discussed how people, processes, and technology were the three ways to improve your claims process. In this second part I will be discussing customer satisfaction.
Frequently, when insurers begin to automate their processes, they worry about not being able to maintain their levels of customer satisfaction. No more face-to-face interactions or lengthy phone calls might mean that customers aren’t getting the service they expect. So how do we avoid losing this personal touch? After all, efficiency is only one aspect of the claims process. What matters most is the customer experience, because that’s how you retain your business.
Our New Consumer
First, we have to rethink our modern customer. The average consumer nowadays isn’t riddled with spare time, wondering how to spend it. The world we currently live in, with same-day delivery and libraries of TV shows at our fingertips, is not the same world insurance was invented in. So, why should our processes still mimic that?
Our customers are used to a fast-paced environment, and time-consuming phone calls no longer fit in most people’s daily routines. To keep up with our customers’ lives, we need to rethink our claims process and mirror that. A division full of senior claims handlers no longer suits the efficiency that we’re used to in the other aspects of our life; we need variety.
What Kind of Variety?
Don’t worry, the personal touch is not facing elimination. The ability to speak to a claims handler directly is still vital to certain claims and specific customers. It isn’t being eliminated by digital innovation entirely. Think of it more as getting revamped; the prevalence is just being minimized.
Insurers understand that claims can get complicated, and they don’t want to get rid of a step that has been so successful for them in the past. Speaking to someone directly is necessary at times. However, by only using traditional processes, our modern customers won’t be happy either.
In reality, by automating portions of their claims divisions, insurers end up spending less money. They use technology that works alongside already existing claims handlers to make processes faster and more efficient. They understand that completely replacing claims handlers wouldn’t be successful, so through innovation, more variety gets introduced. In doing this, insurers save their customers money over time too. And in our world of ever-increasing cost of living, these savings can lead to customer satisfaction just as much as personal phone calls do.
Does It Actually Work?
Laka is a great example of this. A leader of innovation, they have a phenomenal customer service report. And this is how.
By hiring young people with interests that mirror their customers, they create this involuntary bond between employees and policyholders. And, when questions ultimately arise, customers can speak with people who understand their concerns and can form a bond through this. When things do get more challenging, in-house senior claims handlers are there to help with knowledge and expertise.
The combination of technology, energetic young people and experienced senior employees creates an environment where customers can utilize whatever service is most necessary for them. As seen here, it no longer makes sense to have an entire division of traditional claims handlers. The world has changed, so innovating along with it is actually the answer to maintaining customer satisfaction.
To Learn More
Customers today want a quick and seamless experience, along with different options for them to communicate with their insurer, that fit their lifestyle. This is going to look different for every organization but it’s important to think about and include in plans for the future.
To learn more about how we’re innovating insurance, visit our website FRISS.com, or request a demo today. Find out why we believe insurance is a beautiful thing, and how you can start to upgrade efficiency in your own claims process today.
