• A major hurricane just made landfall, and the damage is extensive. To get ahead of the chaos and help customers, you decide to issue $1,000 payments to policyholders with property within a certain radius of the eye of the storm. This will enable policyholders to cover some emergency expenses while giving your team some breathing room to take control of claims.
• Through data analytics, you determine that auto claims within certain parameters are always approved and paid. You decide to create an automatic claims approval and digital payment process to resolve those claims faster, with minimal human intervention. The customer journey is a logical place to begin. Insurers need to appeal to policyholders or risk losing them. By looking at pain points in the customer journey and focusing on solutions that improve the experience, you can create meaningful change rather than change for change’s sake.If you have big plans, you may be tempted to change everything at once—but that can result in an unmanageable level of disruption.
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