The good, the bad, and the ugly of claims A free virtual event exploring the digital transformation of insurers’ most important department

Almost 1,000 professionals from insurers, brokers, MGAs and technology companies have already signed up for the free Claims Innovation USA Virtual Event taking place online between July 13 and 15.

Claims departments are insurers’ most important function—but it is also a department grappling with fundamental and profound changes driven by technology. So, it is no wonder so many experienced professionals have signed up to participate in this unique event.

Here is a snapshot of what some of the speakers have said in advance of the event:

“I’ve experienced the good, the bad, and the ugly of the customer claims experience. I’m looking forward to discussing how insurers can make the claims journey far more streamlined, transparent and stress-free.” Natalie Graham, senior vice president, claims, Mosaic Insurance.

“Claims transformation is at a critical inflection point in balancing automation and digital optimisation with empathy during a key moment of truth.

“There is an incredible opportunity to better serve customers by continuing to innovate around claims automation in a way that ensures auto-decisioning delivers simple, reliable, efficient, and fair outcomes.” Don Jones, head of claims, US insurance operations, Mass Mutual.

“In these unparalleled times, it is essential for the industry to come together and share best practices and experiences. Events such as Claims Innovation USA are critical to help achieve that cohesion and I look forward to learning and sharing insights with my industry colleagues.” Paul Gilbody, senior vice president, property and specialty claims, Aviva Canada.

Claims Innovation USA (July 13–15) will bring together 1,000+ insurers, brokers, insurtechs and industry experts to debate the hottest topics claims professionals are facing right now.

The agenda has been built around current industry challenges and includes more than 30 diverse sessions in engaging formats such as in-depth case studies reflecting the real experiences of companies and individuals experiencing and grappling with this change, fireside chats, and lively and often controversial panel debates.

Featuring more than 50 speakers, this event will examine the impact of digital transformation on the claims departments of insurers—and how claims professionals can become change agents by embracing the raft of new technologies available.

The speakers and panellists are all experienced claims professionals able to speak from years of personal experience working on the frontline of this rapidly changing and critical part of the offering of all insurers.

Through delivering more than 12 hours of unique content, the event will provide the knowledge and insights needed to tackle the transformation challenge claims departments are experiencing, offering the insights and knowledge to make better strategic and operational decisions.

Run by Intelligent Insurer, the leading digital hub for senior insurance executives, brokers and insurtechs, the event is free for insurers to attend and features leading industry figures including:

Day one, Tuesday July 13, will address how to better deliver and improve the Customer Experience In Claims, with sessions covering topics such as how to find, keep and motivate the right talent to help you on your transformative journey while better understanding the customer journey and what influences and motivates their decision-making along that route.

Day two, Wednesday July 14, will cover the many cutting-edge technologies, both established and emerging, with the potential to reimagine the future of claims. From automation to artificial intelligence, experts with experience of using and implementing these technologies will discuss their potential to transform claims operations with insurers, saving money and time while improving the customer journey and creating wider unique selling points.

Day three, Thursday July 15, will cover the wider impact of claims transformation on insurers’ operations in the context of how to seek and achieve wider business outcomes that can transform insurers from the inside out and help reposition them as market leaders in terms of brand and reputation.

The ground-breaking event is the latest in an ongoing series of events run by Intelligent Insurer with the aim of equipping industry players with the networks, insights and knowledge needed to progress their careers and drive the wider evolution of the re/insurance industry.

Rachael Gore, head of digital content for Intelligent Insurer, said: “The COVID-19 pandemic has challenged leaders in many ways and has accelerated existing customer trends such as a shift towards fully embracing the online world. As companies across the insurance industry race to digitise, how do claims professionals become change agents and lead their organisations through digital transformation?

“It’s no secret that the insurance industry has been lagging behind other industries in the pace of digital adoption, so what lessons can be learned from other industries such as e-commerce?

“How can claims professionals innovate with technology to deliver big wins around return on investment to satisfy both consumers and stakeholders? With the recession triggered by the pandemic, decreasing profits and increasing claims costs, the role of claims professionals in making a positive business impact has been never more important.”

Joe Niemczyk, senior counsel/manager, cyber claims, Markel, said: “The quality and integrity of claims administration is an essential component to the success of any insurance organisation.

“Claims Innovation USA is a terrific opportunity to engage with other professionals and learn about emerging trends and business practices as we all move further into the digital world that grew by leaps and bounds over the past year.”

Natalie Graham, senior vice president, claims, Mosaic Insurance, added: “We’re taking a very holistic approach to the way we treat claims at Mosaic, integrating the process into all lines of business from the get-go.”

Shannon Harjer, executive vice president, Producers National Corporation, said: “Organisations have an abundance of data, but I question whether it is being fully utilised at the right time at the right level. From my experience, leaders at all levels within an organisation need to be trained in financial management targeted at specific actions and results within underwriting, finance and claims.

“This need is clearly shown in change management initiatives where leaders cannot understand the rationale or explain it to the organisation. They often refer back to how they ‘feel’ the organisation should proceed without the data to support it or maybe the ability to articulate it to others.

“When leaders have a holistic appreciation for interpretation and application of data within their space while applying it to real-world scenarios, an organisation can push ahead more quickly, with better results.”

Kelly Yates, vice president, claims, Topa Insurance, said: “I’m intrigued by this topic—developing talent and aligning your team for the digital age. Improvements in efficiency and the customer experience are possible, but the ‘people factor’ is critical.”

Seth Simon, senior director of insurance operations for the Americas, Cover Genius, added: “The digital claims landscape holds great potential benefits for companies today, including improved customer experience and reduced claims-handling expenses. But with those benefits come some risks, including lack of customer contact and possible increases in fraud.

“At our panel at Intelligent Insurer’s Claims Innovation USA: Virtual Event, we will examine how insurtechs like Cover Genius are avoiding the pitfalls and thriving in today’s digital claims world while delivering a Net Promoter Score of +65.”

Simon Johnson, SVP–Asia head of claims advisory and operations, Marsh Asia, said: “Customers no longer judge us on our service, they now compare us with their last great experience, this is what drives me to create the best claims experience through digitisation. I am looking forward to sharing my thoughts and experience with you in July.”

Christine Pfeiffer, VP of operations at NEXT Insurance added: “At NEXT, we put a premium on our investment into our data capabilities to combine human-centric design, actuarial science, and state-of-the-art machine learning to provide a scalable, convenient online experience.”