Overview

Improving the Policyholder Experience: Don’t Ignore the ‘Little Data’

Last week I spent some time at an event on ‘big data’ in the insurance industry. The one-day seminar featured speakers from Gartner, IBM, and panelists from insurance technology providers and carriers. Throughout the sessions, interesting and innovative ideas were presented around the concept of making the most of the data and the business intelligence we have. With that said, I saw three main themes:

How to use this data for predictive insight How to assess risk and fraudulent activity How to remain competitive and profitable

What I found interesting was that of all these concepts, very few presenters spoke [...]

The Insurance Blame Game

I recently ran across an article in Insurance Networking News highlighting a report by J.D. Power and Associates entitled the ‘2012 U.S. Auto Claims Satisfaction Study.’ The report reflected the lowest customer satisfaction scores related to auto claims in 3 quarters. The reason behind this drop…a delay in policyholder reports of claims as a result of the holiday season, causing a longer processing time. So, who is actually at fault for this decline?

My guess is there are various opinions and reasons as to why reports of claims were delayed…busy schedules for policyholders, lack of resources from the carrier side, [...]

A Social, Mobile, Cloud Approach for Every Insurance Carrier

They are the hot topics for every industry this year…social media, mobile apps, and cloud-based offerings. So, what’s driving this interest and feeding the buzz in the insurance industry? Sure, social media and mobile users are steadily increasing, and cloud-based solutions are both attractive and affordable, but it is the opportunity to improve overall customer service that is really enticing.

Insurance carriers must expand their traditional contact center and customer service operations to offer information through multiple communication channels and manage it effectively, streamlining both policy and claim processes. Given the breadth of these three trending [...]