A make-it-or-break event
Meeting the digital natives in Insurance
Insurance moment of truth
The claims experience is for all insurance providers considered as one of the most important moments to accelerate and provide an experience that goes above and beyond. For many good reasons this moment is considered a moment of truth – where the promises that has been made are put to test.
The customers are digital natives now and the digital expectations are higher than ever, especially since the pandemic has forced society into becoming even more digital. Read about Generation Alpha.
Claims process experience – a top priority
The claims customer experience is of utmost importance and in many cases it’s a top priority for insurance providers, and with the current speed of digital transformation the claims experience has a laser focus on the customer, and yes – we believe it can be better by putting the customer first!
62% of insurance professionals believes that the problem in today’s claims processes for their customers is the difficulty of making claims. 75% of them believed that the payout for the customers claims are taking too long and is a problem for the overall claims experience.
These figures all talk about the speed, how fast to finish the claims process, or how fast to get the settlement. In fact the customer don’t seem to see the claims experience as the moment of truth rather than a general pain-point – and they want to get done with it in the leanest possible way.
In fact, 77% of customers say that the promise of quicker claims resolution is important in their decision to choose or switch to another provider.
In addition to this, Accenture’s Global Claims Customer Satisfaction Survey details that improving speed and transparency will have the greatest impact on customer satisfaction.
The claims experience is a make-it-or-break event
Customers that are dissatisfied with how their insurer handles a claim are not only likely to switch insurers, but they are also likely to turn to social media to share their unhappy experience with a few millions of their closest friends. All insurers today need to be a digital insurer, that can make the biggest contact point with the customer feel as fast, effortless and easy as possible if they want to stay in the race of giving the best digital claims experience.