The Answer is Multiple Choice

The Answer is Multiple Choice
14.04.2020 04:43 pm

The Answer is Multiple Choice

Insurance

A truly innovative claims process puts customers first.

Technology is an important enabler for innovative claims but understanding how, when, why and where the customer wants human interaction and having the skills to deliver it is often the critical last mile.

Insurance Nexus, part of Reuters Events asked three industry leaders to reveal their unique take on insurance claims innovation. To download the free whitepaper, with contributions from Economical, Wawanesa and Aviva, click here: https://bit.ly/2VrhQyO

What does innovation mean for you? Is it about incremental improvements in current technologies or process? Perhaps innovation should be more radical, the only true innovation being the wholesale disruption of a service or sector?

Certainly, there’s no lack of examples of either of these in the insurance sector. On the one hand, improvements in data management, technology integrations and a mobile-first approach has made all sorts of activities from generating quotes to claims reimbursement faster and more hassle-free than ever.

On the other, new services are springing up to tackle previously unmet customer needs, services that look unlike any model the insurance sector has seen before. Services such as Lemonade, which boasts the industry’s fastest end-to-end claims process. Settlements in a matter of not weeks or days, not even hours, but seconds. Or Metromile, which allows microinsurance at scale, allowing customers to insure only their small part in the growing sharing economy.

But experts have more recently suggested that the true innovation isn’t in the apps or platforms themselves, but in the way carriers choose to deploy them. And choice is the operative word. Technology shouldn’t be helping carriers dictate new ways of claims management. Instead, it should be opening up a whole landscape of choice around where, when and how customers want to manage their claim, in some cases subverting even the most current thinking around what it means to be a modern, tech-driven insurer.

To download the free whitepaper, with contributions from Economical, Wawanesa and Aviva, click here: https://bit.ly/2VrhQyO
 

Do not hesitate to get in touch to further the conversation.

Graham Proud
Global Head of Connected Insurance Research, Insurance Nexus
Reuters Events
Tel: +44 (0)20 7375 7221
graham.proud@insurancenexus.com

Related News

Finantix CIO Cockpit digitises and accelerates key Investment Office processes

Finantix, the leading global provider of trusted technology to the wealth management,... Read more »

Nimbla and Wiserfunding partner to protect UK SMEs from insolvency

With the number of UK SMEs in significant financial distress reaching over 500,000 due to COVID-19... Read more »

EIS Launches in the UK as Insurance Companies Look Beyond Protection to Deliver More Value to Consumers

EIS, a core and digital platform provider for insurers, today announces its entry to the UK market. The San Francisco-... Read more »

The New Getsafe – For a New Generation of Insurance Customers

Since its foundation in 2015, Getsafe has grown up a lot. Now the company has renewed its brand image and sharpened its vision. With a new logo, a new design and a new... Read more »

Getsafe launches digital accident insurance – First step towards life insurance

As of today, Getsafe offers its customers a digital accident insurance product. This marks an important step for the company towards life insurance and shows that even... Read more »

EIS and PwC launch Intelligent Insurance Ecosystem Initiative

EIS Group announced the launch of an intelligent digital insurance ecosystem initiative in collaboration with PwC. The new ecosystem will combine agility with insights to... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel