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How modern technology solutions help insurers provide a better customer experience

By Contributor
Wed 15 Dec 2021

Article by Stelvio Australia, general manager, Yannick Giguère.

In a market that values hyper-personalisation over all else, the importance of customer experience (CX) and user experience (UX) has proven to be what matters most to the public. With consumer choice at an all-time high across all industries, customers now have the luxury of seeking out and aligning with service providers that can deliver services that cater to the customer's exact needs without settling for less.

This is particularly true across the insurance industry, where digital transformation lets businesses that were once in-person only expand their offerings, and thus their clientele, through online support and digitised workflow management.

Introducing back-end management technology such as online support and digitised workflow management lets insurers scale more effectively. Removing the burden of manual work means organisations can onboard and service new customers without necessarily increasing staffing levels. Having these processes in place means businesses can benefit from smart technology's efficiency and deliver excellent CX.

Using a workflow management system to digitise manual administrative processes helps insurers to improve both UX and CX in three key ways:

1. Automation lets humans handle human tasks

Integrating automation into process-heavy businesses means that previously manual tasks can now be done faster and to a higher standard. Machines can also continually process data at all times, ensuring output can continue indefinitely as human staff focus more on higher-value, in-person interactions.  

Systems that use automated allocation let orders be processed quickly and support workflow management to keep on track for delivery deadlines. Certain solutions can even assign tasks to individuals based on their known strengths, ensuring the best quality service is provided to customers. Additionally, streamlining invoice approvals through the automated cost control function also gives insurers full visibility of project costings from start to finish.

2. Smart tech and AI can alleviate stress and protect against losses

Smart technologies and artificial intelligence (AI) have delivered improved security measures for insurers, as well as improved CX and UX. Smart technology lets insurers provide consistent assessments while offering additional on-site features.

For example, in the automotive industry, this might include vehicle details, vehicle identification number (VIN) and market value, plus part prices and parts-versus-vehicle verification. Combining smart technology with the power of AI lets motor insurers more quickly process total losses and streamlines the claims management process.  

3. Customisable options can create a personalised experience

Customisation lets organisations improve their overall workflow and can create a unique CX. Automated solutions that provide multiple dashboards with drop-down options, field labels, and mandatory fields based on the claim can speed up the process for both parties.

Similarly, user interfaces that present a side-by-side display of relevant damage descriptions, quote items, and supporting images or videos—as well as visual adjustment and progress indicators—can also remove stress from the user by providing all necessary information at a glance.

When it comes to employing the right smart technology for an insurance business, business leaders need to choose a service provider that can offer needs-based solutions. This will ensure that the technology implemented will serve its required purpose and become an asset for a business to grow instead of a problem to be solved.

CX and UX have become a battleground for insurers, and it's essential that they have the right technology in place to support their efforts to provide a great experience for customers and employees. Failing to invest in innovative solutions that can be tailored for their unique processes may leave insurers lagging behind their competitors.

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