Driving customer success panel - future of insurance
Our Co-Founder and Chief Innovation Officer, Chris Bayley, was invited to speak on a panel at the Future of Insurance event, discussing how Cover Genius has leveraged technology to up-end the traditional processes of the insurance industry.
Insurtechs like Cover Genius are helping pave this technology evolution – for example, our XClaim API issues instant claims payment in over 90 currencies. Digitizing these processes, especially during the COVID crisis, is crucial for customer engagement. In addition, our tech-led approach also allows us to create innovative products, such as our Shake Shield earthquake protection.
Key highlights:
- 00:45 How large organizations bring about managed positive change i.e. claims, policy administration, when small players are making in-roads?
- 4:00 How has customer experience changed as a result of the COVID crisis?
- 6:00 Thoughts on how the insurance industry is undergoing a technology transformation i.e. paying claims in real-time. The necessity of moving away from legacy systems that are cumbersome so as to facilitate instant payments. How ML is used in claims handling.
- 11:00 Keeping up with the evolution of products i.e. Shake Shield earthquake protection. How APIs issue instant payments when an earthquake takes place to get people back on their feet.
- 20:00 Has COVID made customer engagement easier, especially in a digital setting? How can we simplify the traditionally long process with multiple hoops to jump through on an IVR and wait-times? Cover Genius are looking into video-conference options to inspect items that are faulty/damaged.
- 24:00 How should companies be managing issues on customer privacy?
- 33:00 What applications does automation have in the industry i.e. interpreting customer sentiments in real-time with natural language processing? How does this sit in a regulatory framework?
