How does the insurance industry view touchless claims?
A survey from Celent and PropertyCasualty360.com examines how carrier executives, adjusters, appraisers and investigators view the use of AI in claims.
Technology is playing an increasingly robust role in every area of the insurance process. From selling the policy to renewals and first notice of loss when a claim occurs, many of these activities can be handled online without human interaction. The coronavirus has encouraged many companies to expedite their technology implementations, particularly as part of the claims process.
The use of touchless claims, defined as the process of employing data from policyholders, agents and others, as well as the use of artificial intelligence to automate the claims workflow, allows carriers to handle a claim without any sort of human intervention.
How is the industry adjusting to the increased use of technology, particularly in the claims space? What percentage of claims are currently “touchless” and will that number increase in the future? These are just some of the questions being asked in the survey co-sponsored by Celent and PropertyCasualty360.com in the State of Touchless Claims Survey.
“Touchless claims is a scorching hot topic, and some argue it is one of the most powerful ways to materially improve a claims organization,” says Andrew Schwartz, an analyst with Celent and the architect behind the survey. “However, others are skeptical that pitfalls may arise from claims automation. Celent is launching an important joint survey with PropertyCasualty360.com that will take the insurance industry’s pulse on topics such as attitudes, adoption, advantages and obstacles towards touchless claims.”
The survey is open to insurance professionals through Friday, February 18, and can be accessed here. The results of the study will be presented at the America’s Claims Executive Leadership Forum (ACE) in New Orleans, La. Participants will also be eligible to receive a synopsis of the Celent report based on the survey results.
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