Taking a digital approach to claims processing

Some companies fear that an increased focus on digital technology will make communication with policyholders less personal and negatively impact their experience. (Photo: Shutterstock)

Insurance companies across industries are experiencing overwhelming shifts in their market, from disruptive innovation to changing consumer expectations. But even as leading companies explore the potential for digital technologies to streamline claims processes, some fear these advancements will depersonalize communications, negatively impacting policyholder experiences.

A recent Twitter chat with insurance executives around the InsurTech movement shows while innovations such as the use of drones to speed insurance inspections, robotics to process low-risk claims and telematics to speed first notice of loss (FNOL) capabilities have tremendous potential to improve the quality and efficiency of claims processing, there is concern that the value of innovation will be mitigated by the loss of one-to-one human interaction.