Digital claims functionality is a broad spectrum: at one end it's not much more than a fancy mask - but at the other...
The range of digital capability in the UK insurance market has very many shades of grey - probably a lot more than 50. Some are delivering collapsed costs, fraud reductions, empowered teams, supply chain automation and boosted net promoter scores. Others are absorbing cost while delivering negligible benefit. What is the difference?
For the answer, another film is a better analogy. At the end of the Wizard Oz, Dorothy pulls back the curtain to reveal the charade. The great wizard shows his power through appearance but disappoints with his substance.
eFNOL - the ability to log a claim online - is the man behind the curtain. It offers a degree of convenience for customers but the same customers have become used to Amazon levels of retail time updating, efficiency, speed and service. If a claim logged online passes into manual processes, the gain is marginal at best.
The greatest gains come from tapping into the real power of digital - automation and orchestration. By taking out manual processes, speed increases, costs shrink and customers feel like the recipients of a gold plated service despite the fact that there is zero incremental cost of serving them.
360Globalnet is a leader in full end-to-end digital automation and orchestration using a no-code, Pay As You Go platform. It includes all of the 'surface' digital benefits of photo, video uploads and eFNOL but delivers the true value and saving through far deeper functionality and supply chain automation.
The question that separates out the digital leader is this: 'Can your digital claims platform settle claims from beginning to end without human involvement while controlling costs and boosting NPS?'
Our goal at 360Globalnet is to take you as far along that journey as you're ready to go, without CapEx or the hassle of IT development restrictions. All the functionality is there 'out of the box' ready for you to take the steps you need for better results.