Every customer and every claims colleague handing all aspects of every claim digitally. Pipedream? Or near future inevitability? The insurance industry finds itself in a unique position because on this question, the destination is already clear but the journey remains filled with potholes and roadworks.
Customers expect insurers to have made their claims journey digital already. The likes of Amazon and Uber have set their standards. But digital claims transformation isn’t a click of a button or one whizzy piece of middleware. Traditional large scale IT projects take years and cost millions to implement, and the anxiety remains throughout as to whether companies (and particular CEOs, COOs and CTOs) have made the right decision.
The key issue is that changes in customer demand are happening so quickly that the solution today might already be out of date by the time the previously specced dream is implemented.
Unfortunately, standing still guarantees you’ll be left behind. Yet committing to a tried and tested but slow and expensive road to claims nirvana guarantees nothing. However, that doesn’t mean you can’t successfully navigate your way through Spaghetti Junction. Further, there may even be a digital claims bridge that bypasses the maze entirely, both fast-tracking and future proofing insurers capabilities of digital claims.
No-code is quickly becoming the preferred route for insurers looking to transition to digital. It circumvents the complexity, delays and costs associated traditional IT implementations and enables insurers to build fast and flexible solutions almost overnight. No-code digital claims allow the business practitioners to iterate, test and refine bespoke solutions in minutes, hours and days – not months and years. This agility empowers insurers to nip through the traffic with all the elegance of a prancing horse, delivering on the evolving capabilities that policyholders now demand.
With all these pros you’d be forgiven for thinking that all this comes at a substantial cost, but it’s not the case. The complexity is already built into the building blocks ready to assemble them in any which way insurers want, dramatically reducing upfront costs, and in turn, dramatically reducing the risk of taking a wrong turn. All these benefits compound to create a bridge to digital claims which is impossible to ignore.
If you’d like to find out more about how we can help you meet the demands of your customers with a risk free and future-proof solution whilst also driving down operational costs and increasing customer satisfaction - with little up-front expense - get in touch today. We could be the satnav you’ve been looking for.
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