The claims sector has a problem—is digital transformation the answer?

Customers demand speed and simplicity. Your mature technology and manual processes will eventually force you out of the market. However, insurance professionals within financial services have the potential to transform the traditional claims process—with one simple solution.

The traditional paper-based claims process is lengthy, convoluted and often requires manual intervention. This means that you are investing a significant amount into operational spend. All the while, your customers are switching to competitors who can offer a swift and simple alternative.

Digital transformation is the only response  

With the recent surge in remote working and less face to face transactions, now is the time to harness the power of automation. A recent survey found that:

  • 90% of insurance executives think that their customers want a faster claims experience; and
  • 94% agree that emerging technology has the potential to transform claims.

In order to continue to do business in today’s competitive market, insurers must satisfy the demands of the next generation customer and reduce the unnecessary costs incurred by dated manual processes. 

Streamline your claims process

AlphaTrust is a global leader in electronic signature and digital automation, trusted by some of the largest insurance providers in the industry. Part of the iPipeline company, it is a fully brandable and compliant document process automation solution that is rapidly transforming the claims sector.

One of its customers is 2020’s winner of Cover Excellence Awards for Best Individual Income Protection Insurance. Chief operating officer at The Exeter, Chris Pollard, explains: “Automating the claims process has reduced our processing time considerably meaning the moment a member clicks to ‘submit’ their claim in their own home, our claims team can get to work with helping them. As well as removing the vast amounts of paper, the claims forms we receive are validated as they are completed, which has also reduced the error and return rates.”

“The time it takes to process a claim has been significantly improved with 50% of claims being digitally completed within 48 hours of the member receiving them. Currently we are seeing a 24% reduction in the time taken to process a claim from start to finish.”

Read the full story here.

Your first step towards digital transformation

AlphaTrust is accelerating business growth for small- and medium-sized enterprises and FTSE 500 companies all over the globe—including Pfizer, The Cotswold Group, MetLife and many more. From eSignature to complex workflows, AlphaTrust offers many options to digitise the insurance claims process. 

Why leaders in the claims industry rely on AlphaTrust:

  • Improves customer journey
  • Saves time
  • Reduces errors
  • Fully brandable
  • Industry regulation compliant
  • Supports remote working

Each member of the talented AlphaTrust team has in-depth knowledge of the financial industry and an exhaustive product knowledge.

You can discuss your business needs with an AlphaTrust expert today—discover how here.