The holiday season is fast approaching and with that the annual trend of increased insurance claims. With more people are on the roads on their way to their holiday destination, potential power surges as a result of loadshedding, water damage due to burst geysers, and even a rise in general crime, it probably does not come as a surprise that claims increase during the holiday season meaning your brokerage needs to be prepared.
Submitting claims can be daunting and tedious for many insurance customers over the holidays. This is especially true as people do not want to spend time on tedious claims processes that can get complicated. If your insurance claims process is too complicated, takes forever to be processed, and cannot be done at your clients’ convenience, they are highly likely to choose an insurance broker that can provide them with convenient 24/7 service.
Further, it can be frustrating for brokers to work through inundated claims, causing a delay in claims processing and delayed feedback. Developing a self-service claims portal is becoming more affordable ensuring that insurance brokers can easily implement new technology to offset these frustrations. Digital path Gideon van Zyl explains: “High-end technology such as apps and claims portals are no longer limited to large insurance companies who have the budget to spend millions on apps. Rapid advancements in tech have enabled insurance brokers of any size to implement digital platforms and apps to provide their clients with the same functionality and streamlined claims processes as large insurance companies.”
Here are three reasons why you should consider a self-service claims portal for your brokerage this holiday season:
1. Improved customer retention
Nearly three-quarters of customers place importance on the ability to send claim notifications to insurers either online or via mobile according to a 2017 World Insurance Report. When it comes to renewing and cancelling policies, roughly 70% of Gen Y customers value being able to do so digitally. This demand for digital functionality will continue to grow, with more consumers using the availability of digital platforms as one of their deciding factors when remaining with an insurance broker.
2. Faster claims process
The main reason to implement a self-service claims portal is to speed up the claims process.
Being able to process insurance claims quickly benefits both your clients and your insurance brokerage. Your client receives the superior service speeds they are now used to while passing on cost savings to the insurance broker. As insurance agents no longer need to manually intake claim information, they can spend more time verifying a claim is legitimate, push claims along to the next steps quicker, and spend more time following up with the client to ensure their satisfaction.
3. Reliable 24/7 Service
Self-service portals are a simple yet powerful way to provide customers with 24/7 service. Insurance brokers no longer need to have employees on stand-by at every hour, all year round in case of emergency claims. Clients can submit their claim, look for answers regarding their insurance, or check the status of a previous claim at any time. Clients can also view their policy documents, confirm renewal dates, and other account management functions. When submitting claims online, clients are also assured that their claims will not be dropped or lost due to human error.
At digital path, we understand the vital role of self-service for insurance brokers and their clients. This is why we have developed our world-class Self-Service Claims Portal. Our online portal is the quickest, most convenient method for insurance clients to submit a new claim. Reach out to our team about how our Self-Service Claims Portal can benefit you today: www.digitalpath.co.za.