Semi automated claim handling is the new frontier in digital claims handling
From an automation-perspective there are three types of claims. Firstly, claims that can be automated without the need for interaction with external parties. A simple check of the internal database to validate the number of previous claims combined with the type of claim and the claim amount is sufficient for these simple and low value claims. A decade ago this was considered the frontier of digital transformation in claim handling. But, many insurance companies have struggled with such implementations, both from a technical perspective as well as from an organisational perspective. Looking back, this digital transformation was relatively simple when compared with the efforts required today to further enhance automation.
The second type are also claims that can be entirely automated. However, external parties are required to completely automate the claim. These parties can include other insurance companies, external fraud databases, vehicle liability registrations databases, etc. Many insurance companies still struggle to achieve this due to the limited integration capabilities of their current systems.
The last type of claims are those that cannot, at least for the time being, be completely automated. However, that does not mean there is no automation possible. Examples of these claims are claims that have been flagged during the automated screening process, or claims that are simply too complex to have a process defined in how to handle them beforehand. In both cases, that does not mean automation has no place for these claims. It definitely does, as many sub processes in claim handling can be optimised through automatisation.
The Axon Platform
The Axon platform is a policy and claims administration platform for P&C insurers and all market standard interfaces are supported free of charge. When we developed Axon, one of the core principles we applied was: ‘Automate, unless..’
Which means that all core insurance processes are supported, such that they have a clear workflow. And, if no user-interaction is required, these processes are fully automated.
Therefore, our customers are not faced with the question: Do I want to automate this?
And, when an Axon customer decides that they do want or need to manually handle the claim, they still benefit from automation, such as automated fraud checks or payments that can be approved in a single click.