Insurers are sharpening their focus on the speed of claim processes to enhance customer experience.
Nobody wishes for the day when he has to make a claim against an insurance policy, but that is precisely the day insurance policies are meant for. The insurance premium that you pay will be worth it if you are able to sail through the crisis without going broke. This is also the time when an insurer can make a difference by making the claim process easier for the troubled customer. This is an era of internet, where word of mouth resonates fast and loud across social media platforms, amplifying both positive and negative experiences. No company wants to be seen on the wrong side of customer experience, and insurers are focusing on improving their claim processes to be on the right side. “For years, insurance companies have mostly focused on development and automation of various business processes, which are recurring in nature and require less decision-making skills across the value chain,” says Kalpesh Mehta, Partner, Deloitte India. “The focus, however, is now tilting towards exploring automation of more complex and risky processes such as insurance risk assessment, claim evaluation, claim settlement, etc.,”he adds.
Many insurers have changed their claim settlement systems to accelerate the process and with technology playing a bigger role in this, it has become more user-friendly. “Filing a claim online is simple with a lot of information being pre-filled. Customers can also attach scanned documents for faster processing of claims,” says Mehmood Mansoori, Member of Executive Management, and Group Head, HDFC ERGO General Insurance.
For motor and health claims, policyholders prefer a place of service close to their residence or workplace, but may need an insurer’s support anywhere. So insurers that have a large network of hospitals and garages have an edge. Many have identified this opportunity and are working on increasing their service footprints via new collaborations.
Bu hikaye Business Today dergisinin October 07, 2018 sayısından alınmıştır.
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Bu hikaye Business Today dergisinin October 07, 2018 sayısından alınmıştır.
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