Consumers are demanding more. Zendesk’s 2021 Customer Experience Trends Report found that many consumers still want 24/7 support and quick resolutions, but demand for helpful and empathetic agents and access to preferred channels has surged. The survey also found that 77% of customers say they’re more loyal to companies that provide top-notch service.
Insurance policyholders are especially likely to leave after a claim. To retain customers, insurers need to work on improving the claims journey.
KEEPING UP WITH DIGITAL PROGRESS
Insurers have been investing in digital tools. Property Casualty 360 says that 56% of drivers have submitted a claim online and 51% have used technology to track the claims process. Before COVID, only 15% of auto claims were handled virtually compared to 60% now.
This investment can pay off. The J.D. Power 2021 U.S. Auto Claims Satisfaction Study found that customer satisfaction with claims reached a record high, and some of this advancement is attributed to investments that resulted in faster cycle times.
USING AI TO SUPPORT HUMAN REPRESENTATIVES
New digital tools can help insurers provide a better claims journey, but insurers need to be careful. J.D. Power’s 2021 U.S. Auto Insurance Study found that overall customer satisfaction had stagnated, and 45% of customers would switch for a premium savings of $200 or less.
Part of the problem might be that some insurers are starting to rely too heavily on new tech tools, and that consumers aren’t ready. The Policygenius 2021 Home & Auto Insurance Technology Survey found that two in three consumers are resistant to the idea of buying insurance or filing a claim without speaking to a human, while 60% of consumers would rather switch insurers than let AI review their claims.
This doesn’t mean that insurers should eschew technology. It simply means that there needs to be a balance. New technology shouldn’t replace human representatives. Instead, it can assist human representatives, allowing them to provide better customer service and faster claims processing.
BRINGING YOUR CLAIMS JOURNEY TO THE NEXT LEVEL
Right now, the insurance industry is experiencing a period of tremendous change. It’s an exciting time with great potential, but it’s also easy to go astray.
- Give customers what they want. Insurance customers want fast solutions, 24/7 availability, and the ability to use their preferred channels. They also want to be able to speak to human representatives. Insurers that can deliver the entire package will have an edge.
- Help your representatives succeed. Your representatives won’t be able to deliver superior customer service if they don’t have enough time and the right information. Give them the tools they need.
- Automate tasks where possible. Many customers are still uneasy about the idea of fully automated claims, but they crave fast, reliable claims processing. By automating certain tasks in the claims cycle, you can free up the time of your representatives and give your customers what they want.
IMPROVE YOUR CUSTOMER JOURNEY WITH VCA SOFTWARE
With VCA, you can triage thousands of claims by smart-distributing them to adjusters based on location, workload capacity, and productivity scores.
By simplifying and automating the workflow, our clients reduce the cost of the claims journey by as much as 30%.
With less time spent on busy work, adjusters can focus on what matters most – delivering on the insurance promise with empathy and speed. Request a demo to learn more.
