360Globalnet, a technology company that provides novel and creative digital products and services, is celebrating two significant achievements that prove customers favour digital over traditional claims reporting, when available.
250,000 insurance policyholders have opted to settle their claims online with 360SelfServe, a digital self-service tool for insurance claims and more than 100,000 have used WithYouin5, the first UK-wide network of insurance agents, linked to a technology platform, to assist customers with their claims.
360SelfServe and WithYouin5 are part of a suite of digital products, that includes a live stream video option. Supported by 360Globalnet’s own digital platform, customers report and manage their insurance claims online, putting them firmly at the centre of the claim process.
Given the option to self-service a claim using a mobile device, 9 out of 10 customers* select this, soon realising they have control and can dictate the pace of resolution, in keeping with their other online experiences, such as internet banking.
WithYouin5, a network of people local to the policyholder, assist with claims, at a time to suit the customer.
360Globalnet’s digital platform also provides for mobile live-streaming video from the site of any claim, significantly reducing the cost to service more complex claims.
Paul Stanley, 360Globanet’s managing director and founder said: “Our ethos, since starting the business in 2010, has been to place the policyholder at the heart of the insurance claim and to improve service levels to match those in areas such as online retail.”
“These achievements prove how easy it is to use our digital technology, regardless of a person’s demographic. I think we are now seeing real customer empowerment in this space.”
Business benefits from using 360Globalnet’s products and services include:
- Improved customer satisfaction rates
- Net promoter scores above 70 (rivalling top scoring online services in other sectors)
- Customers consistently score 10/10 once they have used 360SelfServe
- Indemnity cost reductions of up to 15%
- Proven £multi-million benefit on complex claims where mobile live-streaming takes place – with attendant reduction in cycle times
Major efficiency improvements, as an insurer moves from a fixed-cost model to distributed working, with staff either home-based or remote, available on-demand, to meet customer/business needs