Insurers should start considering claims from the customers’ perspective instead of aiming to deliver the best outcome for the organisation.
At the Asia Summit on Claims Management in a Disrupted & Automated World, leading insurers debated new techniques in how to deal with customers’ claims and the ways the industry should act.
Insurers were told they already have the technology to make the shift happen, and that the customers’ point of view should be paramount. The core principle should be to make clients benefit from those services the most, not gain the best outcomes for the organisation.
The companies were urged to begin a ‘holistic’ innovation of the claims process and base it on the customers’ needs.
The main points to address are three, according to Francois Metzler, managing director and ASEAN insurance lead at Accenture: paying the right amount; containing administration costs and satisfying the customer.
The new holistic approach should both juggle between the three and use the technology insurers already possess. For instance, predictive analytics and automation can significantly reduce if not avoid friction for customers. But an assessment for the possible inefficiencies in the company must be carried out as well.
Claims should be used as a tool to look for differentiation, improve customer service and experience and reduce costs.
