Keeping customers informed on the progress of a property claim is a key source of customer dissatisfaction. One big issue for the insurer is the supply chain. Whilst insurers may orchestrate adjusters, inspectors when it comes to the myriad suppliers and contractors involved there is usually a fatal gap.

Any digital transformation must go beyond the quick FNOL self-serve digitally transformed stage and extend across the complete supply chain. Sharing the (redacted) relevant parts of a single digital record to survey, spec and quote remedial work and complete this on time, to spec and most importantly, to gain customer satisfaction.

A digital claims platform must extend as a bi-directional communications and orchestration hub for main and sub-contractors, suppliers and service providers. 

The platform must automatically alert adjusters/supply chain management when any party in the supply chain does not meet SLA/KPI measures. Better still proactively predict when this happens to enable remedial action.

This means the Insurtech Technical Partner should be able to offer :-

1. Digital Claims Platform
2. Embedded MI/BI- historic, current, predictive, real-time
3. Digitally transformed Claims Services

The reason- the difference between best performing and worse performing insurers is 76 points- Source J D Power. 

The best are now implementing and deploying the three critical success factors above and improving customer satisfaction. In fact raising the barrier. Without action today by laggards the gap will widen with first movers as customer expectations increase.

There's even more in the J D Power Report so choose your insurtech partner carefully to avoid being back of the pack.