Insurance Digital Claim Journey – Analytics Overlay
Insurance Digital Claim Journey – Analytics Overlay
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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
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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.
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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
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