TIN and ABBYY surveyed the UK claims community in February 2021 to identify the biggest challenges in improving claims performance and the claims experience—and to identify key priorities for digital transformation within claims—to establish the key themes for Virtual Digital Claims, on March 16th which was hosted by TIN and sponsored by ABBYY.
This report summarizes the outcomes of the survey and the issues raised during the keynote session at Virtual Digital Claims as well as some of the following sessions. The keynote session featured Ian Thompson, the Group Claims Director at Zurich, and Eileen Potter, Insurance Lead at ABBYY and was facilitated by Jeremy Burgess of TIN.
There has been an unmistakable shift away from the business case for claims transformation being made around operational efficiency and cost savings. The main driver has become enhancing the customer experience (primarily, but not exclusively, digital): when asked, 57% of respondents chose “rethinking claims customer journeys” as the key driver. The conversation has changed from paying lip service to customer centricity and tactically tweaking the claims experience to fundamentally rethinking the claims experience in a much more strategic way.
This has led insurers to look again at the ‘Holy Trinity of Transformation’ (People, Process and Technology) through the lens of a genuine customer centricity driven by the fact that in a post COVID world customer experience is set to be the key differentiator and driver of competitive advantage in claims.