How digital technologies are transforming the claims process
A customer's satisfaction with insurance really isn't put to the test until they experience a claim. How quickly is their claim resolved? How much of a hassle is the claims process? How satisfied are they with the result?
There's some good news on this front. Technology is bringing new efficiencies and better customer experiences to the claims process. In 2017, the insurance industry saw marked technological advancements in property-casualty claims processing... "the use of drones for home roof inspections, auto appraisals via photos, customer video chat and bots used in claims processing." Bill Brower of LexisNexis Risk Solutions says that 2017 was the kick-off year for digital transformation for insurance claims, as many of the long-discussed technologies began to be implemented in meaningful ways in the real world.
In PropertyCasualty 360, Brower talks about 10 claim trends that we can expect in 2018, citing numerous examples of how these technologies are being deployed by insurers now. We offer a summary of the trends he highlights, click to the article for a more robust discussion.
- Big Data is being transformed into actionable claims applications
- The "touchless" claim is turning into a reality
- Photo-base appraisals are beginning to replace in-person appraisals
- Drones as insurance inspectors afford quicker access to loss assessments and expedite claim processing
- Interactive tools such as video chatbots and voice analytics will be deployed to strengthen customer service
- Chatbots are being used on social media to increase customer engagement
- Claims apps will become integral to claims processing
- Telematics will move beyond current usage into claims management and fraud prevention
- Accessing police records becomes easier, more efficient. "Automated police record retrieval promises to be a game-changer for the industry."
- AI will continue to transform the customer experience through personalization and fast claim processing