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Insurance Consumer Affairs Exchange ICAE

Insurance Consumer Affairs Exchange ICAE. The Future of Customer Service Using Technology Today & Tomorrow. Kathy Ashby Merry October 3, 2005. Creativity & Cleverness. “You can’t rollerskate in a buffalo herd”. “May the bird of paradise fly up your nose”. “She’s no lady she’s my wife”.

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Insurance Consumer Affairs Exchange ICAE

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  1. Insurance Consumer Affairs Exchange ICAE The Future of Customer Service Using Technology Today & Tomorrow Kathy Ashby Merry October 3, 2005

  2. Creativity & Cleverness . . . “You can’t rollerskate in a buffalo herd” “May the bird of paradise fly up your nose” “She’s no lady she’s my wife” “You left my heart as empty as a Monday mornin’ church”

  3. Health Insurance Industry Technology Spectrum Service Technology complete transparency coverage modeling real time intrusive process paper claims long cycle times Medical Technology healing curing redesigning life creating new life forms

  4. Medical Technology healing curing redesigning life creating new life forms The Future of Health Insurance “The idea of insurance is for people to pool their resources to help each other out with problems that no one can predict on an individual basis. Insurance companies exist to administer the pools of money. As technology advances, the risks to an individual will become more and more predictable. Medical problems will become a virtual certainty instead of a chance that needs to be hedged against with insurance. What happens to an industry based on hedging against unfortunate chance, when chance is taken out of the equation? Life and health insurance may become obsolete.” - David W Neuendorf Author, Software Developer, Business Analyst

  5. In the meantime, let’s catch service up! • Customers aren’t getting the full benefit of existing technology • Technology exists today that can resolve most service issues

  6. Service Technologya company’s perspective Insurance Industry uses Technology to . . . . automate transactions push transactions to self- service radically redesign service interactions

  7. Service Issues Today Life & Health Claim Delays Claim Denials Coverage Questions / Policy Terms Property & Casualty Claim Delays Valuation Disputes

  8. Claims Process

  9. If a company can . . . O C R E D I T S E D I T S adjudicate claims50% of the time in seconds . . .

  10. Then that company can . . O C R E D I T S E D I T S adjudicate claims 99.5% of the time in seconds.

  11. Service Issues Today Life & Health Claim Delays Claim Denials Coverage Questions / Policy Terms Property & Casualty Claim Delays Valuation Disputes

  12. If a company can . . O C R E D I T S E D I T S apply complex adjudication logic during claims process . . .

  13. Then that company can . . . O C R E D I T S E D I T S move complex adjudication logic up front to help customers make decisions.

  14. Why Isn’t It Happening More? No one DEMANDS it.

  15. In a free market, demand ALWAYS works.

  16. So, DEMAND already. . . • Make your vision clear • Communicate your vision • Educate others & enlist help • GREAT opportunity as ICAE determines issue platform • Stick with it

  17. Take Home Points • Medical technology is far outpacing service technology which may render health insurance (as we know it) obsolete. • Service technology exists today that can resolve most existing service issues. • YOU can improve service in the insurance industry by finding your voice and demanding a new outcome.

  18. “Lord, Mr. Ford What have you done?”

  19. Insurance Consumer Affairs Exchange ICAE The Future of Customer Service Using Technology Today & Tomorrow Kathy Ashby Merry October 3, 2005

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