Just recently, the insurance advisory firm Celent partnered with Claims magazine and
PropertyCasualty360.com to take the pulse of the insurance industry around claims
automation. The research discovered:
97%
Found at least some
value from touchless
claims
28%
Said touchless claims
were "extremely
valuable"
20%
Said touchless claims
were "mostly valuable"
50%
Said touchless claims
were "valuable in
certain cases"
In contrast to these numbers, only 20% said they were making "significant use" of touchless
claims while 23% reported making "some use" of touchless claims.
Similarly, a global market research survey published by Solera Holdings discovered that the
demand for automated claims is increasing as well, "with trust in artificial intelligence (AI)-
driven claims and repairs soaring to 79% globally." The report also revealed that:
1/3 of consumers (34%) have completed a motor claim without ever speaking to a human.
A high percentage of consumers (92%) called for self-service claims solutions, with 49%
seeking fully digital self-serve motor claims, and 43% preferring a hybrid of digital and
human contact.
While there is a long way to go, it is clear from this
research that the stage is set for claims evolution
through innovation. But does the touchless claims
process mean no human interaction at all?
Andrew Schwartz with Celent believes that "touchless
doesn't mean claims are totally automated." He
suggests that there are many aspects of the process
that could be rendered touchless (such as pieces of
the First Notice Of Loss (FNOL) process or verifying
coverage for a policyholder or employee).
But in many cases, claims adjusters and managers
should – and will -- still be an important part of the
equation.
THE QUEST FOR TOUCHLESS CLAIMS | 2
