LV, Zurich, Hiscox and Davies Group discussed how automation-driven claims could become a greater USP in the battle for consumer hearts, minds and wallets

Building trust and breaking down misconceptions: How automation-driven claims could become a greater USP in the battle for consumer hearts, minds and wallets

It has never been more important for insurers to fine tune and promote the claims journey as a unique selling point. So how can intelligent automation be a fantastic tool in building trust in an insurance brand?

There has often been a lot of credence put into the suggestion that a great claims experience will stand an insurer in good stead when it comes to renewal.

However, many policyholders still shop around because they have been conditioned too in the belief they can get a better deal elsewhere, an issue that has been tackled head on recently by the Financial Conduct Authority in its final report on pricing practices in the home and motor insurance markets.

Topics covered were:

  • What do customers want from an ‘ideal’ claims journey; and what are the potentially the easiest wins an insurer can introduce to meet these expectations?
  • What’s the connection between automating claims and providing a better customer experience?
  • How do insurers strike the perfect balance of not being seen to be too interventionist/questioning when it comes to claims - and managing fraud?
  • What role does communication play in the claims journey; and how often and through what channels do claimants expect to be reached out through?
  • We live in an age where speed of delivery is seen to be a virtue for most services consumers buy; realistically how quickly should policyholders expect a claim to be settled and do insurers need to make compromises to fulfil the desired consumer outcome?
  • How do you make sure your claims eco-system is built with the customer’s interest at the heart of everything you do?
  • How far are we from a situation where a great claims journey is merely a hygiene factor for insurers? And the belief that insurers do not pay claims is consigned to history?
  • What is intelligent automation’s role in achieving that?
  • How could and should insurers promote their claims expertise when marketing insurance to potential customers?

Joining us for the discussion were: 

  • Hugo Emmanuel Fernandes, international claims operational excellence team leader, Hiscox
  • Martin Milliner, claims director, LV
  • Hugh Pelling, senior client manager, Blue Prism Cloud
  • Amy Brettell, head of customer, UK claims, Zurich
  • Chris Mcllduff, chief customer officer, consulting, Davies Group

 

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