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Snapshot

October 2021 Edition

Companies explore ‘right-touch’ service to improve claims process

Ready or not, increased automation is coming to the claims process. More insurance firms are embracing a comprehensive range of technologies such as artificial intelligence (AI), robotic process automation, mobile apps and advanced chatbots to reduce costs and improve customer service.

For years, claims organizations have focused on reducing costs by automating claims tasks and workflows. Now many leaders are looking for other areas to find improvements,1 as consumers expect faster, easier, and more personalized experiences from providers.2

However, when processing claims, the human touch is often needed – especially with emotional claims such as car accidents, personal injury, life insurance and property losses.1 In these situations, the right-touch service can help boost loyalty and trust while driving down costs.2

Customer journey maps improve consumer experiences

To better understand how customers navigate the claims process, insurance companies are creating customer journey maps. This is the first step to redesigning claims processes. The detailed maps help insurance companies identify where claims automation and standardized processes can have the biggest impact on customer loyalty, and at the same time, show where processes have a higher potential to break down.

With a better understanding of the customer experience, claims leaders can more effectively employ the most appropriate automation technologies throughout the customer journey. For instance, advanced analytics could segment and quickly route claims to the most available claims agent and resolution channel when notified of a loss.3

The claims agent could then communicate with the customer using their preferred communication method, such as texting. By using video and data-sharing capabilities, claims teams can provide customers with real-time information, eliminating the need for phone calls and more human intervention.3

Combine automated tools and human intervention

In the next few years, it will be essential for insurers to integrate a broad range of technologies and analytical tools to help their claims teams provide a seamless and friction-free process throughout the claims customer journey. At the same time, it’s critical that automated tools can identify when a scenario requires human intervention.4

As far as the future of claims, insurers should focus on these four key areas:3

  1. Balance of automation vs. human touch
  2. Proactive communication with customers
  3. Claim prevention with data
  4. Ecosystem of tools/analytics to settle claims quickly and efficiently

Securian Financial employs a technology-driven claims process to provide a simple and fast experience. For example, with its supplemental health products, technology supports cross-product reviews to ensure employees are getting all the benefits they’re eligible for. And a proactive claims approach means as many payments as possible are issued based on the initial documentation.

While technology helps make these processes efficient, Securian Financial knows compassionate expertise is key. Years of experience and a true collaborative culture allow claims to be processed with a high-touch, personalized approach.

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1. Kremer, Jim; Sault, Tony; Peddanagari, Preetham. “How insurers can optimize claims: Automation and humans in the loop.” EY, March 2, 2021.  

2. “Streamline and automate claims-handling processes to build digital capability and unlock the ‘power of proactive.’” Intelligent Insurer, September 7, 2021.

3. Cultu, Deniz; Larrea, Elixabete; Müssig, Michael; Prabha, Swapnil. “Claims 2030: Dream or reality?” McKinsey & Company, April 2, 2019.

4. Helm, Tom. “Insurance in the digital age: injecting automation into the claims process.” Fintech Futures: North American Edition, June 12, 2020.

Insurance products are underwritten by Minnesota Life Insurance Company or Securian Life Insurance Company, a New York authorized insurer. Minnesota Life is not a New York authorized insurer and does not do insurance business in New York. Both companies are headquartered in St. Paul, MN. Product availability and features may vary by state. Each insurer is solely responsible for the financial obligations under the policies or contracts it issues.

Securian Financial is the marketing name for Securian Financial Group, Inc., and its subsidiaries. Minnesota Life Insurance Company and Securian Life Insurance Company are subsidiaries of Securian Financial Group, Inc.

DOFU 10-2021
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