Creating a Compassionate Claims Journey



This week we had the pleasure of welcoming Benekiva to the CareFORWARDLive studio to talk about how to "Create a Compassionate Claims Journey Through People, Process, Technology and Data".


It was wonderful to hear from Bobbie Shrivastav and Brent Williams from Benekiva and our very Deborah Watkins, as they shared their thoughts and insight around everything from claims journey innovation to the future of InsurTech.


A question for the reader - what comes to mind when you think about the claims experience?

THE EMOTIONAL JOURNEY


I have talked a little bit in the past about claims being perhaps the most emotional phase of the insurance lifecycle.


In an industry that can at times be incredibly technical, process heavy and complex; compassion and empathy often become indicative of a poor customer experience as customers struggle to navigate a landscape fraught with complexity.


There is a certain amount of friction that gets generated as a customer moves across the insurance value chain, which typically starts all the way back at the beginning of the journey, with a lack of clarity around what the insured is covered for, what the insured thinks they are covered for and lastly, what the insured should be covered for.


The outcome is an insurance experience that invariably becomes dominated by friction, one that can be incredibly damaging, both for the customer and the insurer.


How can companies leverage people, process, technology, and data to close the underinsurance gap, eliminate the friction and noise, and create a customer experience that exudes compassion and empathy? Several key themes emerged from our conversation earlier this week, which I will dive into below.

CUSTOMER EXPERIENCE


"Customers expect the Amazon experience, not the 1970's K-Mart experience." - Brent Williams


Brent hits the nail on the head. We need to look at the insurance experience as one that encompasses the sort of experience that Amazon provides for their customers. We have all heard the rhetoric around customer 360, know-your-customer etc. but what exactly does that mean for insurance?

TRANSPARENCY