insurance digital Claim - Journey - Analytics Overlay

Insurance Digital Claim Journey – Analytics Overlay

Customers now demand claims services and experience tailored to align with their evolving digital lives. Increasing adoption of connected cars, smart home solutions and AI tools are gradually changing the face of existing claims functions; additionally, insurers with "digital-first "business models are innovating the claims business through a digitally superior value proposition. To leverage digital value claims functions must become customer-centric and excel in Customer Experience (CX), efficiency and effectiveness. Thus digital transformation journey in the Insurance sector is apparent.

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  • Table of Contents:

    • Digital Transformation Strategy
    • Digital Claims Technology Matrix
    • Adoption Drivers and Opportunities - India
    • Growth Drivers – Who is Doing What?
    • Analyst Recommendations
  • Summary:

    Insurtechs are building open system platforms that encourage the growth of ecosystems, increasing their wallet share. Thus, Insurtechs are challenging the incumbents with the “pay-as-you-go” model, which is preferred by the younger cohort that demands value for money in all their purchase decisions. Thus insurance sectors are deploying predictive analytics to transform the insurance customer journey digitally.

  • Key Highlights:

    • 47% respondents faced challenges due to lengthy and complex paperwork
    • 35% faced challenges related to responsiveness of agents
    • 51% respondents prefer digital mode of communication for claims processes
    • 18% of respondents faced challenges for non-clarity in policy terms

Trusted by

Forbes
Business Insider
The Economic Times
Business Standard
Gulf Today
India Today
Business Today
BW Business World
The Week

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