Traditional insurers are being attacked by pure-play digital business models that are using digital applications such as chatbots to turn the process of filing a claim into a fast, simple, and satisfying experience.
To catch up to these new competitors, traditional insurers must strengthen their claims value propositions and provide the essential support functions to impact the front-end customer experience.
Insurers must also attain a new level of integration and sophistication in technology that leverages the power of analytics against robust claims data and contributes to a more profitable book of business.
This report examines the essential steps to digitise and transform claims:
1. Using data, mobile technology and machine learning & analytics.
2. Centering customer experience.
3. Curating the right skills and people that will be needed to support this effort and provide leadership.