In one of the most in-depth reviews of the industry to date, LexisNexis Risk Solutions interviewed over 20 insurance claims executives from top 50 carriers and surveyed over 1750 consumers to determine whether carrier motivations are aligned with customer needs in regards to automation and the claims process.
Here are some key insights from the 2019 Future of Claims study:
- Carriers are embracing Virtual Claims Handling (95% are using or considering it).
- Touchless Claims Handling is growing in popularity (79% of carriers are considering it or open to the idea).
- Consumers appreciate the convenience of automated claims processing, but are less satisfied when they have to interact with more than one person to process their claim.
- One in five consumers prefer self-service claim options, but don’t want to have to answer a lot of questions at First Notice of Loss.
- Carriers who are using claims automation are benefitting from significant efficiencies, along with higher customer satisfaction.
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