Millennials aren’t the only ones pushing for a more customer-centric experience — this demand spans demographics. Omni-channel communications, not just traditional correspondence
and forms, can help you reach a wider audience. A best of breed
solution can help companies improve in this area. By expanding your capabilities, you can meet consumer expectations for
more instantaneous communication.
Since the majority of states require electronic data interchange
(EDI) for First Response of Injury (FROI) and Subsequent Response of Injury (SROI) reporting, most regional or national
workers’ compensation insurers can benefit by having a third-party system to help manage reporting with automated workflows, edit notification and pre-built sequencing.
ANALYTICS AND REPORTING SYSTEMS
Analytic and reporting vendors that help manage claims with either real-time or historical reports and analytics are a growing
segment of Insur Tech.
CLAIMS STAKEHOLDER PORTALS
Portals offer insureds, vendors, injured workers and other
stakeholders a seamless way to interact with you, and meet
expectations that have already been set by the likes of leading
ACCOUNTS PAYABLE/GENERAL LEDGER
Since claims affect the bottom line, integrations can help an organization get a more robust and actionable picture of claim financials from executive to operational views.
Design integrations for the future
In addition to standard integrations that many insurers and
other payers typically perform, it is also important to consider
future technologies when planning for integrations.
Consumer experiences are shaping the future of insurance
technology — and many times, good consumer experiences boil
down to excellent system integrations. Consumers expect to be
able to engage virtually when conducting personal business with
an organization. Why would claimants expect anything less?
Many individuals have an in-home smart speaker system or
digital assistant. While it’s fun to ask these devices to tell a joke or
say something funny, many people also use them for very useful
tasks like turning off the lights in the garage. Why not use the same
technology to report a claim? This is the reality of our future in in-
surance. To get there, we need to improve our system integrations.
For example, intake is evolving from more traditional forms
like telephonic intake to new options like websites and mobile
apps. Some insurers have innovated to gather photos or videos
directly from a device and others have seen benefits in chatbots.
There are many other opportunities for accelerating technology
and smart devices in the claims process including accident pictures, live video intake and reflexive questioning.