The majority (95%) of claims handlers in the US and the UK believe claims processing will be significantly impacted by technology in the next five years, according to a study by insurtech Sprout.ai.
The survey sheds light on the daily challenges faced by claims handlers, revealing that 55% find the review and processing of claims documents and evidence particularly burdensome. An equal percentage reported frustrations with compliance and reporting requirements.
From the perspective of customer service, the polled claims handlers provided insights into the most common customer grievances. Approximately 28% of handlers pointed to complaints related to delays or communication gaps. Another 20% encounter demands for greater transparency, while 17% noted calls for quicker claims resolution.
“Claims handlers are responsible for the most important moment for an insurance carrier: delivering on their service promise,” Sprout.ai chief executive Roi Amir said. “They know the claims process inside and out, and they’re deeply invested in making it easier for customers as well as themselves, as pressure can be high at these critical moments.
“The report confirms what we already knew: handlers are becoming increasingly frustrated by challenges around delays and customer communication – and they are now seeing technology as the answer. This is a really promising development for the insurance industry: technology has the potential to turbocharge claims processing.”
Citing an example, Amir said using artificial intelligence can take a typical claims process from 30 days to real time, freeing up handlers to deliver better customer communication.
Meanwhile, the poll also brought to light certain differences between the experiences of UK and US claims handlers. For instance, a notably higher percentage of UK handlers struggle with the retrieval and review of documents and evidence – 36%, compared to just 14% of their US counterparts.
The research was conducted in collaboration with Opinium in March and April of 2024.
What do you think about this story? Share your thoughts in the comments below.
