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Self-service apps are disrupting the home insurance market

While they can reduce costs and enhance the buying experience, self-serve apps have not eliminated the manual claims process.

Nearly 90% of carriers are working to improve the home insurance buying experience and nearly 70% are doing so by making investments to change the buying process. (Credit: Daniel Berkmann/Adobe Stock) Nearly 90% of carriers are working to improve the home insurance buying experience and nearly 70% are doing so by making investments to change the buying process. (Credit: Daniel Berkmann/Adobe Stock)

A vast majority of insurance carriers, 93%, report that self-service apps are having a major impact on how business is done today as consumers can now lead inspections and take measurements on their mobile devices, according to a study by LexisNexis Risk Solutions.

Assessing damage for a claim is the most common way policyholders leverage self-service apps, the study found. Carriers reported these programs don’t eliminate manual claims processes, but they do help reduce costs and meet the increasing demand for faster service and enhanced experiences, LexisNexis reported.

Steve Hallo

Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].  

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