Following on from the insights of Matteo Carbone from Bain & Company on the question of how insurance claims can improve, hear this.
The insurance claims process is being disrupted. We know this, because we're doing it. Our system works seamlessly alongside insurers' legacy systems and adds a comprehensive way for insurers to gather and validate evidence. It isn't a pipe dream, it is really happening.
The results are compelling. It's not just faster settlement times (a high percentage of less complex claims are settled in under 90 minutes), it's also a neat way to nip opportunistic fraudulent claims in the bud and, most compelling of all, customers love using it to report their claim.
It's a breath of fresh air compared to what we've all been used to. Who knows, next time you report a claim to your insurer, the experience might be simple, straightforward, even a pleasure.
A large proportion of claims are too complex for immediate settlement to be viable, but that doesn't mean digitalisation can't speed things up.