Innovation in Claims - Partnerships, Payments and Process Automation

2022 was a year for the adoption of digital capability in claims. We showcased a selection of new and exciting propositions that improve the customer claims experience, provide smarter ways of paying claims, automate parts of the claims process, and reimagine the traditional TPA model as part of our InsTech Live event. 

A recurring theme in this space is the number of new initiatives spawned from partnerships between technology businesses and incumbents. We talked to several providers who announced carrier tie-ups recently and the insurers they work with. 

The event was co-sponsored by WEX and Sprout.ai.

Discussions and topics included:

• Making Payments More Rewarding - WEX , and partners on the increasing sophistication of claims payments and what benefits customers
• Claims Automation in the ChatGPT Age - Sprout.ai explained how AI is changing claims
• Reinventing the TPA (Third Party Administrator) with Reserv and Synergy Cloud
• Claims in the Specialty Market - an insurer perspective, Liberty Specialty Markets
• Claims Ecosystems - Is Too Much Technology Diversity Suffocating? 360Globalnet on the core components of a digital ecosystem and creating a successful implementation

This event was free to InsTech members and £60 to non-members.

Continuing Professional Development (CPD)
InsTech is accredited by The Chartered Insurance Institute (CII). By attending an InsTech Evening event, you can claim up to 1.5 CPD hours towards your CPD scheme.

If your organisation is a Corporate Member of InsTech and you would like to start receiving a quarterly summary of the CPD hours you have earned through InsTech, then please let us know by emailing cpd@instech.co. 

The Learning Objectives for this event were:

• Summarise the various reasons why there is a need for the adoption of digital capability in claims
• Identify a range of both new and existing propositions that are examples of innovation in claims
• Describe some partnerships between technology providers and incumbents that are aiming to improve the claims experience

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