Harnessing digitalisation across the claims process

September 2016

Customer Centricity Conference

© 2016 Willis Towers Watson. All rights reserved.

Harnessing digitalisation across the claims process

Tom Helm

Agenda

© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 2

1

The Future

2

Back to the Future

3

Data Treasure Trove


The Future

“Ultimate in driverless travel…..”


The other vehicle…..


Hologram assistance


High speed drones


Visualization


Claims experience



Back to the future

Fast pace of technology change


Event at the Vatican

8 years apart

Which technology

will win through

over the next 8

years?

Enhancing the customer claims experience through technology


Claims - Delivering when it counts

Notification Validation Evaluation Investigation Settlement Pre Notification

Claims Process Steps

Pre Event Warning


Role for Insurers? Customer Safety / Claim avoidance

Notification (1/2)


Social Media - Event Management

Notification (2/2)


Automated – Telematics

Investigation (1/2)


New forms of evidence

Investigation (2/2)


The flying loss adjuster

Settlement


3D Printing Solutions

Communication


Digital context / Keeping the customer informed


Data Treasure Trove

Advanced analytics in claims


1

Improving the customer experience

2

Gaining customer insight

Liability Investigation

Medical Experts

Employers

Insurer

Accident

Management

Solicitor

Third

Party

Customer

ClaimFNOLIncident

Rich data gathered throughout the claim lifecycle


(Motor Claim Example)

Can I learn about the

accident earlier?

Can I allocate the claim to

the right people?

Can I identify fraud or

exaggeration?

Can I identify witnesses?

Images?

Can I establish severity of

injuries?

Can I settle this claim

quicker?

Can I be the first to

contact them and offer a

service?

Can I reserve more

accurately?

Can I gain a better insight

into the claimants

wellbeing/condition?

Can I identify potential

high value claims earlier?

Can I identify hidden

witnesses?

Can I identify hidden

images?

Can I determine nature of

impact through images?

Images

Emergency services

Highway agency

Vehicle recovery agency

Witnesses

Hospital

Location

Weather conditions

Vehicle damage severity

Injured parties

Witnesses

Circumstances

Injury details

Hospital details

Location

Weather conditions

Third party vehicle details

Third party details

Vehicle damage repair

estimate

Damage images

Circumstances

Vehicle damage/repair

estimate

Acting solicitor

Injury details

Employment

status/occupation

TP Mobility status

Injury severity

Age

Vehicle damage costs

Vehicle damage severity

TP vehicle mobility status

Hire vehicle need

Injury details

Salary

Prognosis

Pre-existing condition

Treatment

Specialists involved

Job Nature

Commute distance

Seat belt

Images

Witness statements

Total Loss

Vehicle registration

document

Purchase details

MOT certificate

Variety of data sources and techniques


Data digitalisation

Claims analytics to improve claims performance


Unlocking the potential

Claims Spend

Optimisation

Operational Performance

Advanced Claims

Analytics

Claims

Analytics

Identification of inflation drivers,

emerging trends, market & opponent

behaviours and opportunities to

reduce spend effectively

Building powerful

intelligence and developing

rich insights to optimise

claims spend

Quantitative and qualitative measures

that drive performance management

and the capability to help eliminate

waste and optimise efficiency

Linking performance to

strategic goals and creating

lean operations

New insights and solutions, including:

driving pro-active and automated

settlement, predicting high risk/value

cases, expanding background

knowledge on claims/claimants

Leveraging advancements

in tools, technology and

techniques

Advanced Analytics – Delivering improved outcomes


Fault vs Non Fault

Fast settlement for high

value customers Supplier optimisation

Quickly identify the likely

claim outcome

Auto (re)allocate the

claim to the right people

Resolve fault claims

quick – save money

Improve subrogation

Link with underwriting

information to identify

high value and

trustworthy customers

Auto feed into the claim

notification process

Enable day one

settlements

Evaluate performance

between suppliers

Assess image of

damage – route claim to

most effective solution

Source repair or

replacement via an

online tender or

selection process

Determine the top

performers

What are the handling

characteristics of a top

performer?

Share the insights and

monitor to drive

performance

improvement

Claims Adjuster Performance

Claims Data – Providing deeper customer insight


Customer Data

Collected

At policy

inception

During

Claims

Process

New Correlations New Customer Insights

Lifestyle

Family

Travel / Holiday

Attitude to claiming

Attitude to risk

Assets

Claims analytics – valuable asset across the business


Sales &

DistributionBig Data

Pricing &

Underwriting

Financial Reporting

Reinsurance &

Capital Management

Reserving

Claims

Analytics

Your digital claims strategy


Is your company investing / keeping pace in claims ?

How are you prioritising which areas to invest in ?

If your customers were deciding on where to investment – what would they choose?

How are we helping clients ?


WTW – Claims Practice

Our team => experienced, senior claims experts

Helping clients assess where they are against best practice & have they got the foundational factors right

Assessing claims platforms, analytics capabilities, the data capture process and how to leverage or replace

Helping develop their claims strategy

Identifying opportunities to improve the claims process and their customer’s claims experience

Setting out clear, prioritised roadmaps

Providing practical solutions

Questions


Business

Harnessing digitalisation across the claims process