Best Use of Technology for Customer Experience - Claims (General)
This category was open to UK insurance companies, FCA-regulated brokerages, MGAs and third party providers embracing new technology to make a real difference to their customers’ claims experiences.
Entrants were asked to outline the impact of new systems and processes with facts and figures that evidence success.
All of the finalists are listed below. Use the links to find out more from the entrants who have answered our series of Q&As.
WINNER: FloodFlash
Home & Legacy
Zurich Insurance
WINNER: FloodFlash
What key achievement did your entry highlight?
In February FloodFlash paid flood claims in full within 26 hours of the loss. These rapid-payouts reduce stress as well as long term BI and damage through damp and mould. These tech-enabled claims prove the power that parametric insurance has to improve customer outcomes.
Can you share data or testimonials to back up your bid to win?
The fastest claim was paid just over 26 hours after the floods hit. Flood claims normally take months. To add to this achievement, we have some incredible client testimonials on our website case studies page (or on YouTube). Here's our favourite from FloodFlash customer Martyn: “at the end of the day, if FloodFlash treat you like they’ve treated me, it’ll be the best thing you’ve done in the last 5 years. On my heart, swear on my kid’s life. You’re in a different league to the rest of them. You really, really are. Absolutely 110%”
The FloodFlash team: LR back: Pete Codling, Ian Bartholomew, Brent Jackson, L-R front row: Ola Raji, Adam Rimmer
What sets your firm apart from the other shortlisted contenders?
FloodFlash is the only company in the world that has effectively used parametric cover to protect SMEs. Our underwriting and sensor technology is now leading the mass market parametric movement. Something that we're very proud of.
How will you celebrate if you are the victor?
Firstly, we will have a socially responsible drink. Then, we'll get together to work out how we can reduce our claims times even further. We think we can get them down to 24 hours for the next floods that come around.
Zurch Insurance
What key achievement did your entry highlight?
Correctly and efficiently directing a claim at notification stage ensures the customer’s claim is on the right track from the start, which reduces the time it takes for claim to be settled. It gave our customers the choice to proceed with their claim in a remote and safe environment without the need for any physical interaction. Through Easy Claim, a number of claims have been settled on the same day as they were notified. We were also able to quickly identify claims from key workers to ensure that they were kept mobile during the pandemic.
Can you share data or testimonials to back up your bid to win?
•Several claims have been settled in under two days.
•First total loss claim settled within 24 hours of notification during lockdown
•Reduction in the need for hire vehicles to be provided for third parties.
•A standout claim involved a key worker being identified. Images of the damaged vehicle were supplied. Via use of the EasyClaim
system, the motor engineer was able to ensure that the required parts were able to be ordered prior to the vehicle arriving at the
bodyshop. The vehicle was then repaired and returned to the customer within a week.
Jason Balls
What sets your firm apart from the other shortlisted contenders?
Zurich's vision and strategy is all about customer obsession - protecting our customers at their moment of need, making it simple and exploiting innovation to improve customer experience. This is underpinned by our ethos of doing the right thing for our customers and by making interactions personal, effortless, clear and collaborative. Resulting in paying 99% of claims.
How will you celebrate if you are the victor?
Loudly and collaboratively as this is very much a team effort - although a key indicator of success is receiving the excellent feedback from our customers and improving their experience when they needs us the most.