Best Use of Technology for Customer Experience - Claims (Supplier)
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 to evidence their 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: SBSCollision Management Systems
Digi2L (A Rightpath brand)
Kindertons Accident Management
RightIndem
Digi2L (A Rightpath Brand)
What key achievement did your entry highlight?
Rapid development of a customised online claims portal, based on Rightpath's pioneering and powerful AI-driven claims management system, ATICS, for the automated assessment and validation of claims, deployed within just 7 days. Over 50% of all claims received passed strict criteria for straight-through processing to payment stage, saving the affected claimants time, and reducing the overall claims lifecycle.
Can you share data or testimonials to back up your bid to win?
The ATICS-based custom portal, deployed in just seven days, saw over 60,000 claimants register their claim within the first 24 hours, at its peak the portal was capturing 200 claims per minute.
What sets your firm apart from the other shortlisted contenders?
What sets Digi2L apart as a service provider to insurers is its ability to combine a practical understanding of leading-edge technology with years of extensive in-depth experience in the complexities of claims management provided by parent company, Rightpath Insurance Solutions. Digi2L applies its insight to unite both subjects for the benefit of the customer and the insurer, redefining the claims process. This is further supported by a proven track record in the delivery of added value service features that extend beyond the standard claims management model.
How will you celebrate if you are the victor?
Digi2L are currently working on further innovative enhancements to challenge the standard online claims management model and to assist insurers with efficiency and cost-saving new features. If we are successful chosen as winners of the Insurance Times Tech and Innovation Awards ‘Best Use of Technology for Customer Experience – Claims (Supplier)’ category we will likely channel that considerable excitement back, as renewed energy, to deliver great results on our clients’ behalf.
WINNER: SBS
What key achievement did your entry highlight?
The cornerstone of our success has been the continuous optimisation of our operating model through the use of technology. Our Self-serve Claim-bot is targeted at policyholders making mobile phone and 'gadget' claims. Today’s Digital Consumers value convenience and speed; they want to interact with insurers in their own time. The Self-serve Claim-bot offers a complete claim process, from initial FNOL questioning, product validation, excess collection, collection for repair and/or replacement product supply or e-voucher. During this recent period of social distancing and lockdown, customer uptake of our Claim-bot has exceeded 86% of gadget claims.
Can you share data or testimonials to back up your bid to win?
Our innovation strategy is prioritised, based on 3 very simple operating principles:
1. Reduce our clients’ claim spend – we have successfully reduced claim cost by >£1.3m.
2. Settle claims faster – Average claim timeline have reduced by 75%.
3. Delight the policyholder – Our NPS score has increased to >86.
Our Self-service Claim-bot has exceeded all targets set, delighting both client and customer.
Richard Rushall, Strategy & Delivery Director
What sets your firm apart from the other shortlisted contenders?
SBS have become a driving force of positive digital disruption within the market place, coupling together claims costs savings and increasing customer satisfaction. Our Claim-bot has been warmly received by customers wanting more control over how and when they interact. This has led to an increase in delighted customers and, no doubt, policyholder retention. We anticipate that our Claim-bot will become the primary interaction channel with our customers in the long-term; therefore this is another exciting part of our innovation strategy and continued digital evolution.
How will you celebrate if you are the victor?
This year, we (SBS) celebrate our 20th birthday! Winning an Insurance Times Tech & Innovation Award would be a fantastic achievement in a very significant year. Our celebrations would be very much team based, so in these very different socially distancing times, I can see lots of e-Champagne corks being popped!!