Customers judge their insurers by how they pay claims.
From general insurance to specialty, customers expect their claims to be handled transparently, empathetically, quickly and accurately. For insurers, an effective claims process should yield increased renewal rates, reduced loss ratios and lower operating costs.
Recent advances in AI are enabling more aspects of the claims process to be automated, but there is no single solution; different parts of the claims workflow can be automated to various extents. Insurers need to consider what tools they need to empower their staff to provide an efficient and high-quality claims service.
InsTech’s latest report, written in partnership with Simplifai, examines the core challenges insurers face in the claims process today, how technology is helping and lessons from insurers that have implemented automation in the claims process.
This report will help you to:
- Identify the core challenges insurers are facing with claims
- Understand how technology can be applied to different parts of the claims process
- Learn from early adopters using automation in the claims process today, with a case study from Van Ameyde
Key takeaways
- Insurers struggle to achieve consistent efficiency and quality in the claims process today, hurting claimants and insurers alike.
- Technology is changing the claims process for some simple claims, but many claims still use little or no automation.
- Recent advances in AI enable the accurate automation of tasks that only humans could do before.
- There is no single solution to automate all aspects of a claim. Different steps in the claims process require different technologies, while human oversight remains crucial.
Contents
- Getting claims automation right
- Moving towards a more efficient claims process
- Maintaining and improving quality of service
- Claims automation in practice: where we are today
- Case study: Van Ameyde and Simplifai