In the not-so-distant future, profitability has improved, customers are happy, and claims technology facilitates seamless transactions and enables personalized experiences. Enabling, guiding and sharing: these are the basic principles underpinning next-generation claims technology.
In my last post, I discussed how claims technology needs to meet the needs of claims handlers, consumers and claims executives. Today, I am going to present a few scenarios to demonstrate how this technological future may manifest itself.
Forecasting the Future: The Claims Handler
The claims handler logs in using facial recognition. The system, recognizing a lighter work day, presents the handler with training programs that can be dragged and dropped into the handler’s calendar. Turning to the first claim of the day, the system alerts the handler to a time-sensitive claim, along with suggested timelines based on similar claims. The claims handler initiates a virtual meeting with a fine arts expert to discuss a particular claim, flipping through virtual documents to review the expert’s analysis. He sends a summary report to his supervisor through chat, and schedules follow-up meetings.
Takeaway: For the handler, next-generation claims technology enables him to manage his day in the most efficient way, and process claims in the most effective way possible. It also enables him to proactively upgrade his skills and training.
Forecasting the Future: The Supervisor
The supervisor also logs in via facial recognition. The system presents her busy day with suggestions for automated claims assignments. It also alerts her to staff absences, suggesting other resources with similar skills; she reassigns certain tasks to workers with similar skills, and assigns other tasks to workers who need further training. The system interrupts with an alert about an escalated claim. She shares background documents with her tablet for later reading, and then sees a note indicating that the insured is a VIP client. She adds a note to the file and alerts the claim handler about the high-priority claim.
Takeaway: For the supervisor, next-generation claims technology enables her to manage her staff more effectively, whether shifting work to the most appropriate person or assigning training where needed. It also enables her to best manage her clients and ensure consistently high customer service.
Forecasting the Future: The Consumer
Immediately after a car accident, the two parties exchange information via smartphones, just as the police arrive and submit a report remotely. The customer’s smartphone app notifies a tow truck and adds a reminder to his calendar to complete the first notice of loss (FNOL) report. At home, the customer receives the FNOL via email and sits down to complete the report—which already includes his profile information, photos from his phone, telematics data and more. After the claim is filed, the customer finds his insurance deductible has increased—however, he also receives a list of preventative actions that enabled similar customers to improve their scores and reduce their deductible.
Takeaway: For the customer, next-generation claims technology enables him to have more control over the claim, and greater transparency regarding the pricing of his policy—not to mention suggested ways to obtain a better rate.
To be sure, we’re a long way from these capabilities—but given the rapid pace of change and emerging technology, it may not be long before the future is now.