Insurance exists to fulfil promises at moments that are crucial to your policyholders. When things go wrong, your policyholder must be able to rely on the story you tell them. Even when you’re faced with staff capacity shortages. The question is: how do you secure your brand story and claims promise to your policyholders?
Five easy claims capacity solutions
In normal circumstances claims departments will not struggle. But what happens when the promise of superior claims handling comes under pressure in peak periods? How many people and what IT support do you need then? The solutions that match your and your policyholders’ needs don’t require huge investments. We have listed five simple solutions:
1. Robotise repetitive tasks
It’s easy to integrate RPA (Robotic Process Automation) software, which is, e.g., ideal for the intake of claims because of the number of repetitive tasks involved in entering and checking data. RPA helps you scale up your capacity without extra people or large investments. And the claims handler can focus on customer contacts and the technical aspects of the claim.
- Read our post Use RPA in claims management grows exponentially
Embracing Robotics to increase claims handling capacity
2. Add AI – if necessary
Many companies start with AI without clear objectives, when there are easier solutions available. Why would your chatbot have to be intelligent? And does the company have access to sufficient reliable data? Or does a scripted chatbot with predefined scenarios and questions suffice? Intelligence may also be added to RPA. This is necessary if the robot software must be able to ‘understand’ and process semi structured data. In other words: add the right amount of intelligence to meet clear objectives.
3. Make low-complexity claims processes ‘STP-proof’
Processes for low-complexity claims, such as windshield, motor and home contents claims, don’t always need the claims handler’s personal touch. What really counts are speedy repair or replacement.
You don’t need to automate these processes yourself: you can use a low-code claims platform as a SaaS solution. Such as Van Ameyde’s Claims Suite. AI and anti-fraud algorithms ensure that claims that need to be handled manually are excluded from the STP process and reverted to expert claims handlers. This means that claims handlers can focus on the cases that require their expertise, while the policyholders benefit from fast handling and settlement.
4. Interim staffing and overflow solutions
Peak periods, holidays or illness put pressure on your claims department. Faced with staff capacity shortages, how do you make sure you live up to your story? There are two solutions to relieve staff shortages:
- temporary support at your offices by interim claims handlers experienced in all private and commercial non-life business lines
- overflow claims solutions – remote claims handling of thousands of files
Both solutions require your service provider to have the staff capacity and expertise. Including commercial and complex claims, such as bodily injury. For secure overflow claims handling, the IT security of your suppliers’ systems is vital, both in view of GDPR and to prevent cybercrime. Which is why Van Ameyde Systems hold ISO 27001:2013 certification.
5. Outsource claims management
Always a possibility if you don’t have the right expertise for a certain business line in-house. Or if you don’t have the international network to comply with Green Card regulations and EU Motor Insurance Directive 2009/103/EC. Transparent KPI monitoring helps you stay in control of claim cycle times, accurate claim reserves and compliance with service level agreements and legislation. Insurers, MGAs and brokers benefit from outsourcing as they don’t have to build the infrastructure for what, to all intents and purposes, is a cost driver. Now they can focus their resources on their own core business!
Securing your brand story and brand promise:
that’s Van Ameyde’s story!
Do you recognise your needs in these solutions? Then Van Ameyde can help. Why not contact our sales team and see how we can secure your story! Just leave your question, or call-back request, at:
