September 2016
Customer Centricity Conference
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Harnessing digitalisation across the claims process
Tom Helm
Agenda
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1
The Future
2
Back to the Future
3
Data Treasure Trove
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The Future
“Ultimate in driverless travel…..”
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The other vehicle…..
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Hologram assistance
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High speed drones
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Visualization
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Claims experience
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Back to the future
Fast pace of technology change
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Event at the Vatican
8 years apart
Which technology
will win through
over the next 8
years?
Enhancing the customer claims experience through technology
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Claims - Delivering when it counts
Notification Validation Evaluation Investigation Settlement Pre Notification
Claims Process Steps
Pre Event Warning
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Role for Insurers? Customer Safety / Claim avoidance
Notification (1/2)
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Social Media - Event Management
Notification (2/2)
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Automated – Telematics
Investigation (1/2)
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New forms of evidence
Investigation (2/2)
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The flying loss adjuster
Settlement
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3D Printing Solutions
Communication
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Digital context / Keeping the customer informed
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Data Treasure Trove
Advanced analytics in claims
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1
Improving the customer experience
2
Gaining customer insight
Liability Investigation
Medical Experts
Employers
Insurer
Accident
Management
Solicitor
Third
Party
Customer
ClaimFNOLIncident
Rich data gathered throughout the claim lifecycle
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(Motor Claim Example)
Can I learn about the
accident earlier?
Can I allocate the claim to
the right people?
Can I identify fraud or
exaggeration?
Can I identify witnesses?
Images?
Can I establish severity of
injuries?
Can I settle this claim
quicker?
Can I be the first to
contact them and offer a
service?
Can I reserve more
accurately?
Can I gain a better insight
into the claimants
wellbeing/condition?
Can I identify potential
high value claims earlier?
Can I identify hidden
witnesses?
Can I identify hidden
images?
Can I determine nature of
impact through images?
Images
Emergency services
Highway agency
Vehicle recovery agency
Witnesses
Hospital
Location
Weather conditions
Vehicle damage severity
Injured parties
Witnesses
Circumstances
Injury details
Hospital details
Location
Weather conditions
Third party vehicle details
Third party details
Vehicle damage repair
estimate
Damage images
Circumstances
Vehicle damage/repair
estimate
Acting solicitor
Injury details
Employment
status/occupation
TP Mobility status
Injury severity
Age
Vehicle damage costs
Vehicle damage severity
TP vehicle mobility status
Hire vehicle need
Injury details
Salary
Prognosis
Pre-existing condition
Treatment
Specialists involved
Job Nature
Commute distance
Seat belt
Images
Witness statements
Total Loss
Vehicle registration
document
Purchase details
MOT certificate
Variety of data sources and techniques
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Data digitalisation
Claims analytics to improve claims performance
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Unlocking the potential
Claims Spend
Optimisation
Operational Performance
Advanced Claims
Analytics
Claims
Analytics
Identification of inflation drivers,
emerging trends, market & opponent
behaviours and opportunities to
reduce spend effectively
Building powerful
intelligence and developing
rich insights to optimise
claims spend
Quantitative and qualitative measures
that drive performance management
and the capability to help eliminate
waste and optimise efficiency
Linking performance to
strategic goals and creating
lean operations
New insights and solutions, including:
driving pro-active and automated
settlement, predicting high risk/value
cases, expanding background
knowledge on claims/claimants
Leveraging advancements
in tools, technology and
techniques
Advanced Analytics – Delivering improved outcomes
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Fault vs Non Fault
Fast settlement for high
value customers Supplier optimisation
Quickly identify the likely
claim outcome
Auto (re)allocate the
claim to the right people
Resolve fault claims
quick – save money
Improve subrogation
Link with underwriting
information to identify
high value and
trustworthy customers
Auto feed into the claim
notification process
Enable day one
settlements
Evaluate performance
between suppliers
Assess image of
damage – route claim to
most effective solution
Source repair or
replacement via an
online tender or
selection process
Determine the top
performers
What are the handling
characteristics of a top
performer?
Share the insights and
monitor to drive
performance
improvement
Claims Adjuster Performance
Claims Data – Providing deeper customer insight
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Customer Data
Collected
At policy
inception
During
Claims
Process
New Correlations New Customer Insights
Lifestyle
Family
Travel / Holiday
Attitude to claiming
Attitude to risk
Assets
Claims analytics – valuable asset across the business
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Sales &
DistributionBig Data
Pricing &
Underwriting
Financial Reporting
Reinsurance &
Capital Management
Reserving
Claims
Analytics
Your digital claims strategy
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Is your company investing / keeping pace in claims ?
How are you prioritising which areas to invest in ?
If your customers were deciding on where to investment – what would they choose?
How are we helping clients ?
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WTW – Claims Practice
Our team => experienced, senior claims experts
Helping clients assess where they are against best practice & have they got the foundational factors right
Assessing claims platforms, analytics capabilities, the data capture process and how to leverage or replace
Helping develop their claims strategy
Identifying opportunities to improve the claims process and their customer’s claims experience
Setting out clear, prioritised roadmaps
Providing practical solutions
Questions
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