McKinsey highlighting how technology will change the role of claims managers. The evolution from pure risk sharing to greater risk prevention utilising sensors, data and analytics is the catalyst. It means that insurers become more like integrators. I wrote about this in"Can the insurer become the auto ecosystem integrator?"
"To be able to provide a better customer experience, a human touch, they’ll be able to integrate technology in their not day-to-day but almost minute-to-minute interactions. And that is not an easy thing to develop, so I do believe there is a challenge that might feel a bit counterintuitive: that in a more technological era, the human element will become even more important."
Elixabete Larrea Tamayo McKInsey Oct 2019
In addition to gaining the necessary skills for claims managers and the claims team will be the need for a No Code Digital Claims Platform that will enable and empower the claims manager and team to be integrators.
Not in the classic sense of making many incompatible systems connect and work together, the burden of central IT, but rather in two key aspects.
- No-Code platform that lets the business customise workflows/processes in plain English
- Digital claims platform with API architecture
The No Code platform
lets the claims manager appoint two or three people trained to configure world-beating customer claims journeys in plain English (or Spanish, French, Italian, Chinese etc). No reliance in vendors, or central IT. Real, iterative configure/test/publish agile transformation.
Able to anticipate sudden events and react quickly to "out-of-the-blue" shocks. Also "enterprise strength" to deploy world class digital claims the equal or better than any competitor.
Digital Code Platforms with API architecture
to ensure you can integrate third party apps as no one platform has everything you need for every contingency.
"Insurers are working with service providers like Audatex , Tractable and Xtract to digitally transform vehicle repair services.
When combined in digital claims platforms the insurance industry has one other answer to the challenge of increasing customer UX & satisfaction, cutting costs and improving ratios."
Insurtech World September 2018
This is the current and future way the role of claims manager is changing and only a claims platform that transforms all of claims from FNOL though claims management to supply chain orchestration to repair and replace will do. No fancy front end eFNOL or just fraud solutions. No mere evidence gathering solutions but "The Full Monty".
It is a challenge to claims managers but the solution is here.
....changes in the claims organization will actually be the role of the claims manager. There are three stages, in my view, in that role evolution. The first one is what I call the “firefighter,” the second stage is the coach, and the third stage is the integrator.
https://www.mckinsey.com/industries/financial-services/our-insights/the-future-of-insurance-claims
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