Again, the key is to maintain a flexible
approach driven by customer needs,
preferences and expectations.
3. Balance technology
and traditional claims
The explosion of digital technology in
the last few years will decidedly play a
huge role in claims adjudication going
forward. Artificial intelligence (AI), chatbots, mobile self-service apps, etc. are
already available and making headlines.
The challenge facing carriers today is not
if, but when to deploy these technologies.
Personal property contents claims are
in good shape to benefit greatly from
these advances. For example, utilizing
advanced data analytics at first notice of
loss (FNOL), carriers can triage claims
for a rapid settlement process. Qualifying incoming claims to be handled using
self-service applications for inventory
creation could have a significant impact
on cycle time and claims expense.
However, there will still be claims that
will go the traditional route and need
active adjuster (and, in some cases with
personal property, expert) interaction.
Demographics will again play a role in
gauging amenability of insureds to the up
and coming technology solutions. We are
riding the digital transformation wave,
yet truly engaging the customer will need
a fine balance and a judicious use of traditional and non-traditional approaches.
4. Get the “easy stuff” right.
Carriers will spend millions of dollars
on process and technology efforts, seeking to improve the customer experience.
In addition, executives will put in thousands of training hours to ensure their
claims staff can provide the highest service level possible. While these are noteworthy investments, they can amount to
naught if insurers forget the simple basic
things, “easy stuff” that can have a big
impact on overall customer engagement,
such as providing policyholders timely
For personal property claims, insured
The good news
interaction is critical, especially given the
unprecedented power that customers now
hold given increasing market competi-
tion. Getting the proper information on
the original items is critical to accurately
determine the like, kind and quality re-
placement details. This requires carriers
to have flexible communication channels
available for all insureds. Tech-savvy cus-
tomers want to communicate with their
carrier using their preferred channels, e.g.,
chat, after-hours live assistance, electronic
communications and the like. Redesign-
ing customer touchpoints to provide var-
ious ways to interact helps influence sat-
isfaction levels, creating positive customer
experiences and a competitive advantage.
Overall customer satisfaction for home-
owners filing property claims is at an
all-time high. Loss costs incurred by in-
surance carriers have also risen. Clearly
carriers are seeing positive results from
their investments in improving the
customer experience. The key to max-
imizing the return on investment is to
constantly analyze and improve over-
all customer satisfaction. Understand
what matters to your customers, shape
the touchpoints to suit preferences,
and handhold them along the property
Steven Sugg (steven.sugg@genpact.
com) is vice president and global
operating leader for content services
in the insurance business at Genpact, a
global professional services firm focused
on delivering digital transformation.
It is also imperative to acknowledge
and understand that younger
policyholders will be much more tech-
savvy and likely to post experiences
via social media and other channels.
• Adjusters experienced in both London and domestic
TPA claims handling
• Specializing in heavy equipment physical damage,
cargo and third party liability
• Experienced subrogation recovery adjusters
• Customized rates and service plans
• 24/7/365 availability through Custard Hotline
WITH OVER 50 YEARS OF EXPERIENCE, WE HAVE THE EXPERTISE TO PROVIDE
CUSTOMIZED TPA SERVICES THAT WILL MEET AND EXCEED OUR CLIENT’S EXPECTATIONS.
Specialty TPA Services
Specialtytpa@custard.com | 1-888-custard | www.custard.com