We investigate new tech innovations which look set to drive innovation within the home claims marketplace and help drive down lifecycle times and claim costs
It is widely reported that the insurance industry is one of the least innovative areas for customer experience, resulting in customers typically coming away from their interactions disappointed and dissatisfied.
The industry has unfortunately lagged considerably behind others in embracing technology to enhance the customer experience, with many industry reports claiming the sector is three to four years behind.
But with innovative suppliers now providing a range of unique digital solutions to make the claims process more efficient, is the market set for a tech revolution?
Chris Edwards, head of insurance at Plastic Surgeon, and insurance expert, looks at how Plastic Surgeon are assisting in revolutionising the home claims market and bucking the industry trend.
Plastic Surgeon developed this unique tool a number of years ago enabling us to better manage the high volume of claims that we are presented with every day.
The system enables us to not only manage every claim with complete confidence, transparency and in a timely manner, but to provide unique and detailed management information reports for insurance clients.
Chris comments: “Visibility has the ability to produce some really useful reports which, our insurance clients find incredibly helpful. Information such as average cost per repair, regional differences in service usage, in addition to sustainability figures such as reduction in landfill waste”.
“Visibility has been designed by our in-house technology team, meaning we are able to constantly update and improve the system further to suit our client’s needs.”
Visibility has been used for sometime by Plastic Surgeons Housebuild and Construction clients. National group housebuilders have been using the tools to identify issues with items and materials that are frequently damaged within the build phase. Utilising the information to drive purchasing and protection equipment decisions. The same information used within the claims management process can help to reduce both claims costs and response times.
The insurance industry is plagued by it’s outdated processes, notifying a claim in many cases, is the same today as it was decades ago. Unfortunately, this outdated approach is no longer acceptable to customers, in this digital age.
Self Survey is something that many in the industry have been exploring which essentially enables a customer to notify their own claim.
Plastic Surgeon launched its Self Survey tool alongside ‘Visibility’ earlier this year. The tool is currently being used by a number of insurer clients and has received great praise.
How does it work? – a customer receives a secure login token via email with which enables them to access the ‘Visibility’ system. To make the process as painless as possible for the customer no lengthy signup process is required, the quick confirmation of a few key details, in conjunction with the secure token is enough to quickly gain access. They are then provided with a simply structured online questionnaire where they fill the details of the claim. They are then asked to provide photographs to enable Plastic Surgeon’s experienced claims handlers to assess the damage prior to a visit on site. This reduces the lifecycle even further as it ensures that when a finisher is sent out to site, they can carry out the repair immediately.
Chris says: “Self Survey enables us to quickly and effectively respond and complete the claim – reducing the claim lifecycle by around 80%. The information is presented in a consistent format which is a fantastic resource to share with insurers”.
Technology is becoming an increasingly important part of the industry and is improving efficiencies for the sector as a whole and its customers. More importantly, technology and technical innovations are slowly determining the growth and evolution of the market.
Chris concludes: “Insurers must continue to adopt innovative tech solutions to ensure the industry catches up. Here at Plastic Surgeon we will continue investing in our technology to ensure we’re able to offer clients the easiest and most efficient repair solution on the market”.