Navigating technology: Increasing retention through exceptional claims management
As independent agencies, you offer exceptional personalized service and localized expertise, but you likely often face less control during the claims process. Your carrier partners play a sizable role when your client files a claim, and they possess the technology to operationalize the claims journey. This unique dynamic requires a proactive and transparent communication strategy from you to ensure client satisfaction before, during and after the claims process. By setting clear expectations, leveraging technology for seamless communication and maintaining a strong connection between the agency, carrier and client, you can deliver a claims experience that fosters loyalty and retention.
The growth of claims technology
Internet of Things—or IoT—is a term that is used to describe the multitude of technology solutions that enable the capture and exchange of data, providing valuable insights regarding conditions, behaviors and outcomes. In insurance, we have seen the rise of telematics devices that have been used in automobiles and homes to track and monitor driver behaviors of personal and commercial vehicles and water leaks that occur in the home and business. In addition, drones have been used to assess property conditions, dimensions and attributes that impact premiums and claim settlements. In all of these scenarios, carriers seek to improve the efficiency of the claims process using data harnessed within technology as well as better prepare for future events and pricing models.
As an agent, you indirectly rely on these tools to improve client interactions and satisfaction, and there is also a significant role that you play to set the tone in the event of a claim. That process, with the help of technology, should actually begin well before the event even occurs.
Setting expectations using agency automations
The foundation of an exceptional claims experience begins at the very start of the client relationship. During the onboarding process, it is crucial for agencies to set clear expectations about the claims process. This involves educating clients on what to expect when filing a claim, the typical timeline for resolution and the roles of both the agency and the carrier.
Using automated communications technology, clients can be informed and reminded about the division of responsibilities between the agency and the carrier. While the carrier handles the technical aspects of claims processing, the agency plays a vital role in communication and advocacy. By clearly explaining this partnership, clients will have a better understanding of who to contact and what to expect. This can be accomplished in cadences developed inside the automation tool. Determining the volume (i.e., number of communications), frequency (i.e., days, weeks, months) and medium (i.e., email, text, direct mail, social posts, website landing pages) and setting triggered sequences that automate the educational content, you will establish a baseline understanding of the claims process.
Digitizing the claims intake process
In today’s digital age, clients expect convenience and efficiency. A well-designed website intake system can significantly enhance the claims experience by allowing clients to notify the agency of a claim quickly and easily, even during off hours when volume seems to increase.
The website should feature a user-friendly interface that guides clients through the claims notification process. Clear instructions, intuitive forms and accessible contact information are essential components of an effective intake system.
To further streamline the process, the website intake system should be connected to carrier partners’ websites and/or the agency management system (AMS). These integrations ensure that once a client submits a claim notification, the relevant information is automatically forwarded to the carrier for processing as well as tracked and stored in the client’s record. This connectivity reduces the need for manual data entry and minimizes the risk of errors.
Tech check-ins to reinforce your role
While technology plays a critical role in delivering an exceptional claims experience, the human element should not be overlooked and can be automated to a degree.
A key to scaling claims communication while not having full control of the client and adjuster process is to develop ongoing sequences whose sole intent is to provide regular check-ins with clients for the duration of the claim. These check-ins provide an opportunity to address any concerns, offer support and reinforce the agency’s commitment to client satisfaction. In cases where claims become complex or contentious, you should act as an advocate for the client. This involves working closely with the carrier to ensure that the client’s interests are represented and that the claim is resolved fairly and promptly. Technology provides the upfront work in mass while you are reserving your time for any escalations that may occur with a subset of claimants.
Retention through exceptional claims handling is not just about resolving claims quickly; it is about creating a positive and reassuring experience for clients during a stressful time. In a world where clients have many options, exceptional claims handling can be the differentiator that sets an agency apart and ensures long-term success.