Competition for customers is fierce, so incumbent property/casualty (P/C) insurers must hustle to integrate digital technologies into their operations. Digitizing the claims experience holds great promise for the P/C industry both in terms of customer experience and cost savings.

McKinsey and Company has recently released a report about planning for a successful claims digitization process. The essential elements needed to digitize and transform claims include developing a new value proposition that sets a high-level aspiration (and getting managers to buy in) and pursuing an end-to-end digitization of the claims customer journey.

A truly innovative customer journey can be achieved by integrating with three other areas—AI and digital technologies, the digital integration of the claims ecosystem, and a new digital operating model.

The figure below shows what an aspirational future state of a customer journey would look like, and the digital assets needed to achieve that state.

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