Let’s discuss a scenario involving Mr. Rodney an insurance customer, Mr. Stick a claims manager with insurance company and Mr. Knowitall the CTO of the insurance business rules engine company.
Mr. Rodney moved from UK to US for a couple of years and bought a house near Florida beach side. He also bought himself a brand new BMW and a SUV for rules engine his wife. Now like everything he got his assets insured by a well known insurance firm “At Best Cover (ABC) inc.” unfortunately this year hurricanes played a major role and one fine morning he finds his roof blown over and cars parked on his neighbor’s balcony. Panicking he calls his insurance company and the real story starts.
He calls up ABC’s call center which routes his call to India, as his claims are for different product lines he ends up speaking to multiple representatives about each of his assets. The story is much worse at the insurer’s end. The insurer is currently processing these claims on legacy claim systems which can mean multiple claim systems within a department. So Mr. Rodney’s claim is entered into multiple systems and the situation is extrapolated with loads of paper based and manual activities to process these claims. The results:
1) Customer Dissatisfaction: Mr. Rodney is already fed up of speaking to multiple people on phones for different claims, it also seems that the customer relationship management system is not consistent hence he hears different stories each time. The back office processing of claims is slow and this is further frustrating Mr. Rodney due to delays and feeling of un-professionalism. Mr. Rodney is already considering a shift from ABC to someone more agile to respond to his needs.
2) Turnaround time for claims processing: It’s been a known fact that claim processing in most insurance companies can take more than 80-90% of total administrative costs. ABC is currently having more than 25 different claim systems and its taking a lot of time to resolve Mr. Rodney’s problem with most of Mr. Stick’s time is getting wasted in manual reporting, registering etc. instead of focusing on processing of claims.
3) Operational bottlenecks: With such complex and pain staking procedures the insurance companies face an issue of inefficient staff performance, increased staff turnovers and obviously very high cost to process claims. ABC is facing touch challenge in making the claim process smooth for its customer and employees.
4) CRM?: With so many different systems, there is bound to be data inconsistencies and redundancy. This also results in ABC having very low visibility on trends, patterns related to customers like Mr. Rodney. A well oiled CRM system should have been able to pinpoint Mr. Rodney’s dissatisfaction by now or better should have been able to prevent it to some extent.
Comments
15 responses to “Webify Those Claim Systems – How BPM, SOA, Rules Helps Shape The New Wave Of Insurance Automation”
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A hilarious video of an otter stealing a man’s surfboard off the coast of California has prompted internet speculation on the animal’s true motives.
The footage of the interaction was posted to Twitter
on June 29 by KSBW and shows an otter hijacking
a surfboard while the owner is away swimming.
The animal quickly swims away with his new ride as the surfer chases after, treading several feet behind the mammal and then engaging in a
battle for the board.
More than 2.4 million views have raked up on the incredible
video with thousands of people weighing in with jokes, puns, and conspiracy theories.
‘The otters have joined the war,’ one person wrote, referencing the internet implying that orcas have waged
a war on vessels in their home waters.
A hilarious video of an otter stealing a man’s
surfboard off the coast of California has prompted internet speculation on the animal’s true motives
OTTER THEFT | Otter steals another surfboard off the Santa Cruz
Coast and swims away with it when the owners try to
get it back.
‘The otters have joined the war,’ one person wrote, referencing the internet implying that orcas have waged a
war on vessels in their home waters
The one-minute video starts by showing the otter latching onto the board and
beginning to tug it away deeper into the ocean.
The encounter took place in June in the waters of Santa Cruz.
In the clip, the surfer rushes after the otter and becomes enveloped in a full-blown water fight,
splashing water at the mammal to try and get him to leave.
The otter appears unfazed and even repeatedly mounts the board until the
clip ends without showing how the situation between the pair was
resolved.
KSBW also shared referencing a similar interaction recorded just days beforehand at a nearby beach.
In that story, the friendly otter swam up to a group of surfers
and jumped from board to board, catching a ride unbothered by the humans around him.
Since posting the first video on June 29, the tweet containing the clip has been retweeted and favorited thousands of times by
Twitter users.
More than 1,000 people have quoted the tweet sharing hilarious captions and memes about the playful theft.
‘It’s the otter audacity for me tbh,’ one person wrote.
‘And did the surfer really think splashing water was going to make the otter
go away?’
The one-minute video starts by showing the otter latching onto the board and beginning
to tug it away deeper into the ocean
In the clip, the surfer rushes after the otter
and becomes enveloped in a full-blown water fight,
splashing water at the mammal to try and get him to
leave
The otter appears unfazed and even repeatedly mounts the
board until the clip ends without showing how the situation between the pair was resolved
On Twitter, many others speculated that the otters had teamed
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added.
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‘Otters have joined the Orcas. There is no hope for us now.
I, for one, welcome our new aquatic overlords,’ shared a user named Chris.
‘The ocean dwelling creatures had a meeting and decided they were reclaiming their home,’ another wrote.
On Twitter, many speculated that the otters had teamed up with the orcas who the internet has joked are laying claim to the ocean
‘Santa Cruz otters just got back from two weeks of Summer Camp with the Orcas,’ one
person wrote in a response to the viral clip
The internet has spent the last several months joking that the orcas and other sea creatures are organizing an ‘animal uprising’ to overthrow the
humans.
In June, Daily Mail.com reported that White Gladis, an orca who is believed to
have kicked off the ‘coup’ was thought to have been pregnant when she
first started ramming into boats.
The orca has even taken her newborn calf with her on terror
expeditions.
White Gladis is among a pod of killer whales that have been attacking boats off the coast of
Spain and Portugal since the summer of 2020.
The so-called ‘orca-uprising’, believed to have been instigated by White Gladis, has
seen the species ramming and circling ships before wrenching away their rudders.
Daily Mail.com reported that White Gladis (pictured), an orca who is believed to have kicked off
the ‘coup,’ was thought to have been pregnant when she first started ramming into boat
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