AI and Analytics Revolutionize Insurance Claims Experience for Customers
The use of artificial intelligence (AI) and advanced analytics has significantly transformed the process of handling insurance claims, resulting in improved efficiency and convenience for customers. According to Ellie Shepherd, head of customer experience and insight at Aviva, these digital technologies have had a positive impact on the claims process.
By employing advanced analytics, particularly in claims processing, insurers can enhance the overall customer experience. Shepherd explains, Analytics and claims bring to life the knowledge we possess about our customers. This understanding enables us to simplify processes and offer a streamlined experience.
Richard Sheridan, strategy development director at Sedgwick, supports this viewpoint and highlights the role of AI in streamlining the collection of claims information. Through automation and access to existing data or external sources, AI speeds up the claims process and eliminates the need for customers to provide information that can be obtained automatically.
The COVID-19 pandemic played a significant role in accelerating the adoption of digital processes within the insurance industry. Touchless claims, where customers file a claim with minimal human contact through an app, gained traction during the pandemic. Bill Brower, vice president of industry relations at Solera, notes that lockdowns made touchless claims a necessity, resulting in increased adoption rates.
However, while AI and digital solutions offer numerous benefits, Sheridan emphasizes the importance of providing customers with options. He believes that customers should always have the choice to interact with a claims handler directly, either over the phone, via email, or through live chat. Digital channels may not be suitable for everyone, and some customers find the online experience challenging.
Overall, the integration of AI and advanced analytics in the insurance claims process has positively impacted customers. The use of digital technology has not only made the process faster and more efficient but also alleviated stress often associated with filing claims. It is crucial for insurers to strike a balance between providing streamlined digital experiences and offering personalized support to cater to customers’ diverse needs.
As the insurance industry continues to evolve and embrace technological advancements, the focus on enhancing the claims experience through AI and analytics will remain at the forefront. The ability to leverage customer knowledge effectively and simplify processes will drive further innovation, benefitting both insurers and policyholders alike.
