To coincide with the launch of another module of our end-to-end digital motor claims management solution, AudaENOL, we have launched a series of three Insight Papers analysing the future of the motor claims landscape.
Following the first paper which focused on the progression of technology in the sector, we have now launched the second in the series which focuses on the consumer and looks at ‘Why Policyholders Want to be in the Driving Seat’.
The paper explores the essential requirements for insurers to fulfil the expectations of today’s motor insurance policyholders. It has found that, despite the calls for a more bespoke claims journey, insurers have for the most part been slow to digitise. Today, traditional players are responding to the pressures placed on them, not only by other insurers but by the leading global brands, which have turned the consumer perception of excellent customer service on its head.
However, the demands for a digital customer claims experience are also being met with expectations for a fast and instant process, from the initial first notification of loss, to final settlement. Our research mirrors this, with over half (58%) of 25-34-year-olds stating they are currently dissatisfied with the speed of making a claim, while 68% of respondents want a claims system that is easy to use.
Insurers can therefore no longer approach each stage of a motor claim as a standalone event; they must now provide a single digital claims journey which fits seamlessly into the busy, ‘always on’ lifestyle of the modern consumer.
It’s clear that improving the experience of UK policyholders should be a main focus for insurers. And with a third (33%) of respondents unsure of how to make a claim and nearly half (46%) blaming a bad claims experience on poor customer service, the need for a more consumer-friendly claims approach is now imminent.
As we look ahead to the future of motor claims, the report highlights how their customers feel it is the responsibility of insurers to find ways to increase customer satisfaction levels and put consumers at the very heart of the claims journey. The addition of digital capabilities could very well be the answer to delivering a competitive consumer experience.