"To capture the value of digital,P&C claims functions must embark on a transformation to become a customer-centric, digitally enabled organization that excels in the three foundational areas of claims—customer experience, efficiency, and effectiveness."
McKinsey Claims in the Digital Age- how insurers can get started
Take the supply chain-digital integration of the claims ecosystems.
A single digital record starting at FNOL with a self-service, secure peer-to-peer link to customers via any media to, :-
- Describe the loss in free-form text
- Add photos and video
- Provide additional info as requested
- Where necessary book investigations, locus reporting
- Once claim accepted to share with supply chain
- Automated quotes including reverse auction
- Booking and collecting claimant's car
- Booking and delivering replacement hire car
- Minimising time in body shop and length of cat hire
- Keeping the claimant fully informed
- Raising satisfaction, reducing cost and speeding up resolution claim
Get started today with 360Globalnet and see how to half the claims life cycle and slash indemnity costs whilst also achieving outstanding customer satisfaction scores
To combine such offers into efficient, digital, self-service journeys, insurance carriers need to digitally integrate with relevant players in the larger claims ecosystem (Exhibit 5). In addition, a digital integration can vastly improve efficiency in communication between the ecosystem parties and speed the claims processing for the customer. As this type of digital integration is currently rare, a carrier can become the ecosystem integrator, harnessing the best of the ecosystem for its customers.