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Rapid claim settlement time and claim status communication are the most important factors contributing to a high level of customer service. However, Property & Casualty companies are failing to deliver on both accounts:
According to a survey conducted by International Communication Research of 1,000 adults:
- 94% if U.S. consumers who have filed a P&C claim cited quick resolution of an insurance claim as highly important to their satisfaction with the claims process.
- 42% of settled claimants expressed dissatisfaction with the amount of time it took to settle their claim.
- 82% of claimants surveyed stressed the importance of communication regarding their claim status.
- 41% of claimants surveyed expressed dissatisfaction with their claim representative's ability to keep them informed of their claim status.
On the ability to settle claims in a timely fashion, P&C have a choice: satisfy customers at the expense of potential overpayments and fraud susceptibility, or, review claims more extensively at the risk of losing customers.
The ability to communicate effectively with customers is often dependent on the capacity to maintain organized claim files, to retrieve these files at a moment's notice and to quickly identify the documents relevant to the customer's inquiry. With claim files being located in large storage rooms and often containing hundred of pages of documentation, claim professionals are highly challenged to provide customers with the quick and clear answers they desire.
ePIP doesn't just pay claims fast, it pays the majority of claims instantly. And with 24 hour access to claim status information and claim handlers who can electronically track every activity performed pn the case, P&C companies can now achieve the highest level of customer satisfaction.
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