Farmers Insurance, one of the carriers working with Enservio, recently started airing a commercial about a real-life Farmers customer whose house was hit by a tornado. The customer signed on with Farmers five days before the tornado hit. In the commercial, the customer talks about how grateful they were for the fast settlement from Farmers because they were able to put their lives back together quickly.
As the Farmers commercial shows, one aspect of the claims process that most affects insureds is the timeliness of settlement payments. Most carriers issue settlements through checks to the claimant, but this process is costly to carriers and difficult for insureds who often have a pressing need for funds. The end result is an unpleasant customer experience for the insured, often at a time of crisis when they need the best service possible from their insurance provider.
There are new contents claims technologies and comprehensive solutions available that alleviate these pains. I recently wrote an article for Techdecisions, where I discuss these new technologies that are helping improve the payment process for both carriers and insureds – moving away from checks toward a system of pre-paid debit cards.
Pre-paid debit cards in conjunction with an online shopping platform provide the insured with flexibility and options for personal choice that aren’t possible with paper checks. It’s all about customer service, and the technology to make the claims process easier and more efficient is available. Carriers need to take a closer look – their customers will thank them for it.