The COVID-19 pandemic forced auto insurance carriers to move at lightning speed to ensure they provided a seamless virtual claims process for their customers. They did…and customers were pleased.
For the past several years, the LexisNexis® Risk Solutions Future of Claims study has kept you updated on the latest trends in claims processing and provided forward-looking insights on how the industry is progressing toward touchless claims. This year’s study focuses on the acceleration in virtual claims processing over the past two years, driven in large part by the influence of the COVID-19 pandemic.
Key insights gleaned from what we heard from consumers and auto insurance executives include:
- Consumers are becoming more comfortable with virtual and self-service options and appreciate the benefits they offer.
- Carriers are influencing consumer attitudes toward automated claims processing by accelerating technology adoption.
- While consumers embrace automated processes in large part, their satisfaction with their claims experience declined slightly due to expectations based on experiences outside of the insurance industry.
The pandemic accelerated our journey toward touchless claims, and there’s no turning back. Insights and recommendations from this year’s study should affirm your confidence in the future of automated claims and help you see how your actions to expand automated claims processing can improve customer engagement and deliver greater benefits for your business.
Now is the perfect time for you to develop and refine your strategic roadmap to complete your claims handling digital transformation.