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A Glimpse into the Future of Claims

A Glimpse into the Future of Claims

Posted by Harman Bola on

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The P&C industry has reached a significant inflection point with changes in customer expectations and shifting market demands. Nowhere is this more apparent than in the claims organization, which stands at a critical crossroads in a customer's journey.

Today's customers are not only looking for empathy and compassion; they want quicker claim settlements, clear communications, and complete visibility into claims. Simultaneously, claims organizations seek new ways to increase efficiency, lower claim expenses, and increase claims accuracy.

Over the last year, we collaborated with our global customer base to tackle these challenges. What we heard consistently during our conversations was that the P&C industry needed to establish a new baseline for claims handling. So we went back to the drawing board to reimagine the traditional claims process.

And during Connections Reimagined, we unveiled this new vision with the introduction of Guidewire Claims Autopilot, a cloud-based claims service that enables insurers to take an automation-first approach to claims handling. The service will leverage artificial intelligence, analytics, and digital technologies to enable insurers to deliver better customer experiences while lowering operating expenses.

Want to know how it will work? Well, it all starts with claims intake, which transforms into an adaptable, fully digital experience. Business users will be able to customize these experiences by easily designing, defining, and modifying a series of progressive questions to help identify the nature of the claim.

Next, Guidewire Claims Autopilot will work behind the scenes to evaluate each claim as it comes into Guidewire ClaimCenter and then begin automating tasks associated with claim processing. There may be times when a claim will require an adjuster, at which point the automation service will cede control to an adjuster, and the adjuster can then determine when—and if—to return the claim for automated processing.

Analytics and artificial intelligence (AI) will power automation in Guidewire Claims Autopilot by operationalizing data and analytics insights to automate processes throughout the claims lifecycle. The service will also help insurers gain analytical insights into automated claims with metrics including cycle times, counts, financials, and comparison metrics.

Offering fast and automated service is just one component of Guidewire Claims Autopilot. It will also help you provide better customer experiences throughout the claims process with complete visibility into claim status and two-way communications that are accessible anywhere. We’re also working to create more streamlined integrations for third-party services such as fraud detection and AI estimating.

With this new approach, we’re inverting the claims paradigm by making automation the default—and manual handling the exception.

To learn more, check out the Guidewire Claims Autopilot Deep Dive session from the March installment of Connections Reimagined.

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