How Would Your Customers Rate Their Claims Experience?

How Would Your Customers Rate Their Claims Experience?

The client experience is comprised of several individual aspects that aggregate into a single opinion for use as an individual’s comprehensive conclusion on a company’s quality of service.  This includes analyzing every facet of a business’s trust, quality of care, unique features, ease of use, and consistency.  For customers who are looking for a new insurance policy, their experience begins when they start shopping for a new brand, which is primarily based on price and service.  The better a company’s customer service, the more likely they are to be referred for further potential business.

Since so much of the insurance industry is based around the customer experience, it is essential that businesses implement sound practices that ensure top-of-the-line customer care.  In order to discover how to best improve the overall customer experience, extensive research was compiled by numerous insurance companies.  Their conclusion found that the course of action an insurance provider takes during a claim makes a huge impact on client satisfaction and how likely it is for them to establish a long-term relationship.

It makes sense that a customer will seek out a new insurance company if their previous providers delivered less than satisfactory customer service.  There’s just too much competition for a customer to feel the need to settle with an inferior business that has nothing unique to offer.  However, if an insurer uses exemplary claim procedures and provides the best claim service available, they can rest assured that they’ll keep their customers for life.  The use of an automated risk management information system will help optimize even the worst of company processes for a more complete customer experience.

Claims Satisfaction is Everything

Technology is re-forming the entire insurance industry, affecting everything from underwriting to first notice of loss.  Through the advent of automation, technology has made it possible to significantly overhaul the entire claims process with superior accuracy, faster speed, and increased financial capabilities.  Before technology, the process of obtaining information and interacting with clients was a much more tedious job that consumed a substantial amount of time.  These days, technology has made a ginormous impact on the way that we assess risk management, letting us scrutinize massive amounts of claims in a consolidated manner.  Thereby making it easier to recognize problem areas so that preemptive actions can be implemented on both a pre/post-loss basis.

How is Your Claims Communication Strategy?

Asides from customer interaction, the claims experience is comprised of several individual components that each have an important effect on the customer’s final opinion.  Some of these aspects include how simple it is for customers to get in touch with their providers, or the different methods that carriers use to keep their clients updated.  Client’s often prefer to receive instant messaging on any important changes, if it’s unavailable they may look elsewhere to find more modern practices.  This is because clients love having the ability to access their relevant information, they want to be up-to-date on their claims, and providers should do everything within their power to make it happen.

Sometimes Price Isn’t Everything

A lot of the time, potential customers are willing to shell out bigger dollars for a superior product.  The same way that some people opt for leather seats in their new vehicle, and how some are fine with a standard cloth interior.  The same can be said for the insurance industry, some clients are looking to spend more money for better service.  After a certain point, many customers having trouble discerning the difference between the multiple providers and their core products.  A perfect example of why it’s so important that providers are able to distinguish themselves through a unique feature that they offer.  The happier a client is, the longer they will choose to remain with their provider regardless of the price.  It’s been proven that having a top-rated customer experience is a magnet for attracting new customers.

Are You Communicating Trust and Satisfaction?

Communication is an essential part of being human.  As such, it’s paramount that providers ensure they are communicating in an explicit manner.  Be that as it may, communication is a two-way street that requires providers to be both active listeners and informative.  This includes listening and acting on common customer suggestions, concerns, comments, and complaints in a proactive manner that improves the overall experience.  Praises too should be dissected, so that the company can better understand which individual factor earned them the compliment.  The use of an advanced application that promotes better communication can help insurers optimize their communication practices and will provide greater transparency into their established methodologies.

An Alternative to What You are Currently Using

Businesses should consider switching to a more customer-centric approach in their daily methodologies that clearly communicates and delivers the best individual experience.  To make this possible, insurers should implement an efficient claims process that ensures that customer service is held to the highest standard.  Claims Manager® offers the most inclusive customer experience available.  Its ability to jointly evaluate and automate the life-cycle of claims has enabled businesses to concentrate on more pertinent matters.  This creates the chance for a business to shift their attention from handling administrative tasks to being able to focus on the human element.  Claims Manger® is a safe, versatile, and modern risk management information system that uses state-of-the-art analytic algorithms for seamless benchmarking, capturing, administering, and reporting of claims.

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