The world is a different place now
People choose their insurance company now based largely on peer reviews. How good is the cover, are they quick to pay out, is it good value, what is the experience of claims like?
What is the experience like? That’s the big one. Yes, they’re interested in cover and value, but often the deciding factor is: how much hassle is it? Do I really want to go through that claims process again?
So how do you unlock a better claims process? If you were starting from scratch, the legacy systems you rely on would have no place in your plans. You’d have a system based on what your customers want, not what your data dictates.
The beauty of the Liberty Create low-code system is that you can do exactly that. You can take the data from whatever old system it’s sitting in, and use it to give your customers what they want.
Race to the middle
For a while, the internet shake-up and the emergence and then dominance of price comparison sites, meant that price was the big thing.
There was a race to the bottom – whoever was cheapest was winning.
But the old ‘you get what you pay for’ adage applies as much to insurance as anything else. And when ‘the cheapest’ began to get dreadful reviews, the benefits of actually being any good surfaced once more.
And a new kind of sweet spot emerged – being ‘not-the-cheapest’ and ‘not-the-worst’ suddenly became a pretty good idea.
Customer experience – CX – is the Holy Grail again
Customer expectations are high. There is more information, like-for-like comparisons and – perhaps crucially – user reviews about the market than ever before.
Renewal decisions are increasingly based on reviews and social media.
Customers are fickle. Switching is the norm. Loyalty is not a concept they’re much interested in.
They’re after the best combination of quality and value and are better equipped than ever to find it.
It’s a social situation.
Time for change
The insurance industry finds itself at something of a digital crossroads.
The industry has never been an early adopter, but consumer demand is predicated on the experience they get through the technology.
User-friendly tech is no longer a nice-to-have luxury.
And the idea of ‘digital disruption’, of being out paced by the new kids, is a daily reality. The need for digital transformation has been a part of insurance IT strategy for years, but it’s no longer something for some indeterminate tomorrow.
If you were starting from scratch, the legacy systems you rely on would have no place in your plans. You’d have a system based on what your customers want, not what your data dictates.
You can take the data from whatever old system it’s sitting in, and use it to give your customers what they want.
Tomorrow never comes
The problems with starting from scratch on a complete new IT infrastructure are generally two fold.
Unfortunately, they are the big two: time and money.
New systems consume huge amounts of time.
You’ll probably need a consultancy, agency or other third party to help design and build it. You’ll need to hire new people and source new tech. All of this rapaciously gobbles up both time and money.
It’s also enormously disruptive to day-to-day workflows, as breakdowns and fixes take second place, and IT are pulled off line of business to focus on the new thing.
What you’ve built isn’t what you need
By the time you’ve researched, reshuffled, replaced and reimagined, and then commissioned, coded and built it – there’s a very good chance that it’s not actually what you need anymore after all.
How can it be, when you started it two years ago? And you still have to get all staff in all departments behind the change.
Make a team, consisting of people from IT and customer facing claims teams. Give them the tools and backing they need to solve your customer experience problems together. In weeks. Not years. That’s the dream, right?
It’s here. You can do it now.
Netcall’s Liberty Create is a low-code platform. Low-code lets non-developers build, test and launch applications without writing code.
Smooth and seamless
It’s a much more organic approach, rooted in practical reality. The people who really understand the process can redesign it so it’s better to use.
So it’s automatic. Intuitive.
Create can draw data from your legacy systems – you don’t get rid of them, it just sits on top of them, supplying data but not customer facing.
Clunky, disjointed, infuriating customer journeys can be replaced by smooth, seamless, automated processes.
Find out what makes great CX
You can automate – from FNOL to settlement
Imagine the scenario: a customer has a burst pipe and uses the app on their phone to tell you.
Claims validation checks and fraud indicators run in the background, while a plumber is called in, someone is sent to remove the carpets and an estimator is booked.
Later that day, a dehumidifier arrives on site.
All of this is automatic and the customer is kept informed of every step by text, email or app notifications. They have a number to call with questions or issues.
Three weeks later, someone goes to check the area is dry and books the decorator. At the end of the process, the customer is informed that everything is done and asked for feedback, comments or suggestions.
Find out how Liberty Create builds a better customer experience
Low-code is low risk
This process, apart from being hugely more efficient for your customers, will actually save you money.
Yes, you can improve your CX, whilst simultaneously reducing costs.
Automation reduces costs by speeding up the routine claims process. ‘Right first time’ is quicker, your customers are happy and your reviews get better.
You can make it all low risk, start small, roll out successes and scale it up as you go. It’s fast, collaborative and measurable.
It’s also easy to change, which means you can adapt as you need to, so it’s effectively future proof.
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