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Insurance Consumer Affairs Exchange ICAE Insurance Consumer Affairs Exchange ICAE The Future of Customer Service Using Technology Today & Tomorrow The.

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Presentation on theme: "Insurance Consumer Affairs Exchange ICAE Insurance Consumer Affairs Exchange ICAE The Future of Customer Service Using Technology Today & Tomorrow The."— Presentation transcript:

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

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

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

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5 Medical Technology healing curing redesigning life creating new life forms “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 “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 The Future of Health Insurance The Future of Health Insurance

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

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

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

9 Claims Process

10 EDITSEDITS EDITSEDITS EDITSEDITS EDITSEDITS OCROCR If a company can... adjudicate claims 50% of the time in seconds...

11 EDITSEDITS EDITSEDITS EDITSEDITS EDITSEDITS OCROCR Then that company can.. adjudicate claims 99.5% of the time in seconds. adjudicate claims 99.5% of the time in seconds.

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

13 EDITSEDITS EDITSEDITS EDITSEDITS EDITSEDITS OCROCR If a company can.. apply complex adjudication logic during claims process...

14 EDITSEDITS EDITSEDITS EDITSEDITS EDITSEDITS OCROCR Then that company can... move complex adjudication logic up front to help customers make decisions. move complex adjudication logic up front to help customers make decisions.

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

16 In a free market, demand ALWAYS works. In a free market, demand ALWAYS works.

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

18 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.  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.

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

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


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