Sponsored content: Joe O’Connor, deputy chief executive at RDT, shares how Ace can allow insurers can significantly reduce the time it takes to handle claims and enhance competitiveness in a rapidly evolving industry.
In the motor insurance sector the push for greater efficiency, improved service levels and faster claim resolutions is driving the adoption of automation. Digital claims processes allow policyholders to notify and manage claims online with ease.
However, the complexity of motor claims – often involving multiple stakeholders like repair networks, loss adjusters and specialist teams – poses a unique challenge for insurers.
Historically, motor insurance claims processes have relied heavily on manual interventions, especially in complex cases. But the question arises – how can insurers optimise these processes through automation and what should they expect from the latest automation tools tailored specifically for motor insurance claims?
Holistic approach
When automating the motor insurance claims process, a holistic approach is essential.
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RDT’s Agile Composition Engine (Ace) addresses the unique challenges of motor insurance by integrating automation throughout the entire claims journey. Ace seamlessly connects with an insurer’s policy and claims system and various stakeholders via API, ensuring a smooth and efficient claims process.
For instance, Ace’s integration with Vizion and other repair networks exemplifies how automation can be effectively utilised to meet the specific needs of motor insurers.
With Vizion, Ace ensures that the instruction is timely, contains all the right information, automatically updates the customer with digital communications and settles the claim with the repairer.
The impact of this is less customer calls, less manual administration, reduced error rate and a reduced start to finish time.
Speed to value
Ace offers pre-built, insurance-specific workflow templates for accelerated implementation, while also being fully customisable to meet the unique needs of each business via Ace’s robust integrations.
For insurers experiencing rapid growth or struggling to scale their operations due to staffing constraints, Ace offers a practical solution. The principles of Ace are automated workflows according to an exception-based handling model, seamlessly managing a mix of human and automated interactions by dropping in and out of the process accordingly.
As a result, some motor insurers utilising Ace have seen claims durations decrease from weeks to days, with 87% of total loss claims now resolved with a single touch.
Continuous optimisation
Underpinning Ace is a data platform designed to capture details around workflow execution, enabling continuous improvement and operational optimisation.
This allows product owners and claims managers to fine tune their automation strategies, resulting in huge reductions in manual claims workflow tasks for some insurers using Ace.
The outcome for motor insurers is clear – reduced claims durations and costs, enhanced customer experiences and minimal risk or disruption to existing systems.
For those looking to accelerate claims completion and improve operational efficiency in motor insurance, Ace offers a powerful advantage.
- To find out more about RDT’s Ace, click here
