8.08.19

Exploring how new technology can improve the claim process and build customer loyalty

The insurance industry is embracing technology and exploring increased efficiencies through automation – but only to a point.

https://www.repairerdrivennews.com/2019/06/27/lexisnexis-more-insurance-execs-using-open-to-virtual-claims/

That is the takeaway from the attached article, which does a wonderful job of reporting back on the thoughts and perceptions of insurance industry leaders. That line in the sand is the moment in which a carrier is being asked to sacrifice customer service for the sake of automation. The article refers to factors negatively affecting customer satisfaction (included below):

A perceived lack of empathy from carrier and agents (consumers want ease of use, but they want to know someone cares about their outcomes)

Long claims processing times

Having to speak with a carrier multiple times to get a claim through processing

Having to interact with several people about a claim, rather than just one representative

Automation can help with the claims processing times and, potentially, with limiting the number of insurance staff needing to be involved but what can be done about ensuring the opportunity for the insurance adjuster to display empathy? Insurance companies face more competition than ever, which means customers have more options – and less customer loyalty.For most customers, there are three primary drivers behind a decision – cost, trust, and experience. Insurance companies must differentiate their solutions to avoid being commoditized – which is the result when cost is the driver. How can an insurance company leverage technology to establish trust and improve the overall customer experience? We believe the answer lies in 3V Recordings – Visual, Voice, Value.

Imagine a customer experiencing an auto accident, property damage or workplace injury and needing to connect with their insurance carrier to begin the claim process. For The last 30 years, this process has been initiated by an impersonal telephone call. More recently, solutions are available where using a website or downloaded App to begin the process is an option. Add in the time lost waiting for an adjuster to come to your house or the inconvenience of going to the adjuster and it is clear this is not a customer friendly process! Insurance companies have lost touch with their customers and it shows in the loyalty numbers. More and more, cost is the only deciding factor because trust and experience has significantly declined across the board.

Now imagine that same customer experiencing a claim and making their initial outreach to the insurance company, but Instead of the “interaction” being conducted over the phone or online, the adjuster is able to send a simple text message or email to the customer and through a single click (no app required), connect face to face to begin the intake process.

The immediate empathy and peace of mind provided when a customer can put a face with their insurance company’s caring adjuster is something that everyone involved benefits from.  How much value does that personal interaction add to the experience, trust, and customer satisfaction? Customers want simple and fast without the loss of humanity.

3V bridges the gap between adjuster and customer in real time. Through a virtual connection, adjusters are able to visualize the customer, property or auto damage, get eyes on a potential injury or accident site and do this all from their desk while providing a dose of genuine human to human empathy.  Experience the way to expedite claims, improve the client experience, and establish trust with Splashlight Virtual Solutions 3V software platform.

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