Lose the stress from loss adjusting
New research shows that customer service is more important than price for retaining business, and the insurance industry would do well to improve their customer journey through these difficult periods, say Aquarium Software, whose latest offering helps them do just that.
Insurance claims by their very nature come at incredibly stressful times for customers; following a car accident, when their home has been flooded, or a treasured family pet is seriously ill. At such times it can be difficult for insurers to balance their need for thorough investigation against the customer’s need for a stress free journey. And it’s not just the insurer who is in the front line when it comes to creating the right impression with customers – the role of Loss Adjusters is just as important according to Aquarium.
“The aims of claimants and insurers are very similar,” says Mark Colonnese, Sales and Marketing Director. “Both parties want to get a claim resolved as quickly and smoothly as possible. However lengthy dealings with loss adjusters can give customers additional headaches and damage their relationship with the insurer. Our latest piece of loss adjusting process technology will help overcome this problem, leading to greater efficiency and customer satisfaction for not just insurers, but loss adjusters as their brand ambassadors as well.”
A study by JD Power revealed that customers are far more likely to switch insurers as a result of poor customer service than because of differences in price. “Customer service is as important in the insurance industry as it is anywhere else; neglecting the customer journey can have severe consequences and lead to customers moving elsewhere. It perhaps hasn’t been spelled out before; but if the vast majority of a customer’s dealings have been with the loss adjusting company, their entire perception of the insurance industry might be based on the quality of service, efficiency and compassion shown by the loss adjuster.”
Aquarium Software specialises in producing insurance technology platforms for insurers and loss adjusters on both sides of the Atlantic, and its latest offering is designed to give loss adjusters enhanced synergy with an insurer’s systems. Allowing greater access to their data and analytics leads to speedier claims resolutions, which ultimately improves the service experienced by a consumer.
“A great deal of loss adjusting work is outsourced and contractors don’t have access to the insurance company’s systems. Furthermore they are not necessarily adhering to the same brand values when it comes to managing the communications with the customer. Our software gives greater synergy between the two parties, allowing loss adjusters to be seamlessly incorporated into an insurer’s business model,” added Colonnese.