How can insurance companies avoid high customer attrition? And what does collective intelligence using crowdsourcing technology have to do with it?
On 14 July, German insurance companies participated in a joint executive online session hosted by Alternus and ScaleHub: Increase Customer Satisfaction: How to Speed up Claims & Benefits Processing (Kundenzufriedenheit erhöhen – Geschwindigkeit in der Abwicklung der Schaden- und Leistungsabwicklung in German), to discuss claims processing in health and non-life related insurance, and get a look into how this human + tech collaborative approach can give insurance companies the streamlined processing boost they need.
Attendees heard from industry experts, Marcus Wollny, CIO of Deutsche Familienversicherung AG, and Christoph Müller, COO of Real Garant Versicherung AG (part of the Zurich Insurance Group). From ScaleHub, CRO Torsten Malchow and VP of Sales EMEA, Susanne Richter-Wills, demonstrated how collective intelligence solutions have positively changed the customer experience through real-life examples.
A top issue for attendees
Session attendees came from many different regional and global insurance companies, showing that this is a common, pervasive issue, independent of location.
Alternus’ style of events always ensures that attendees walk away with high-value content from both the presentations as well as the discussion and networking elements. This session was no different.
According to Alternus, an organization that runs innovation camps for insurers, claims processing remains the top priority for most insurance companies in Germany.
With this principle issue in mind, the session dived into what companies are doing to avoid processing pitfalls.
Shared experiences
Presenting on behalf of Deutsche Familienversicherung, Markus Wollny, CIO, summarized the challenges of claims processing for insurers.
He provided insight into his organization’s approach. Together with the University of Munich, they actively focus on using AI for claims processing in select insurance cases: dental, pet, and accidents. His presentation showed the potential that AI provides for automating settlements.
Christoph Müller, COO of Real Garant (a daughter company of Zurich Insurance), discussed the ScaleHub user experience.
Processing claims from 32 countries, Christoph talked about the benefits of utilizing ScaleHub’s collective intelligence solution to streamline their approach, including processing cost estimates, invoices, and related documents.
Scale to the meet demand
ScaleHub rounded out the presentation with exclusive insights from our new whitepaper, presented by Torsten Malchow, on the positive effects of crowdsourcing with collective intelligence to help insurance companies increase customer retention.
Susanne Richter-Wills gave attendees a look into the data protection techniques of collective intelligence and its ability to compensate for staffing shortages that insurance companies deal with regularly.
Stay tuned
This webinar was an outstanding success. In drawing together attendees from all parts of the insurance sphere, we’re proud to have addressed this pivotal issue alongside Alternus.
As the first webinar in this series, we plan to dive deeper into use cases in our next session on 24 November. We have a confirmed lineup of speakers that are sure to attract an even bigger and more diverse audience.
Stay tuned in to the ScaleHub blog for more information!