AXA has launched STeP, a digital claims solution that is set to transform the insurer’s online offering and provide more choice for its motor insurance customers.
The new solution, which has been developed in-house at AXA, sees the insurer expand its digital capabilities beyond electronic notification into a self-serve, end-to-end digital claims experience. Customers can now choose seamless multi-channel journeys when making a motor claim.
AXA’s Direct Motor and Swiftcover customers can notify and track a claim online and, for certain types of claims, the journey is also automatically integrated with the insurer’s suppliers who will then help them with the repair or replacement of their vehicle depending on the type of damage.
The claims journey has been significantly simplified by integrating AXA’s Guidewire Claims System with machine learning models and augmented decision tools built by its analytics team, and by developing integrations and tools with key suppliers. This ensures policyholders receive rapid action for repair or fast and accurate settlement when their vehicle is written off.
The time taken from customer notification to partners arranging repair or salvage is now down to minutes, and customer feedback has been very positive about the simplicity and speed of the journey, according to AXA.
Customers will still be able to phone AXA and speak to someone if they wish, but STeP means they have even greater choice in how they interact with the insurer.
AXA’s claims team has been able to develop STeP and implement this straight-through claims processing in just seven months from concept to launch. The insurer is also looking at ways to use the STeP technology to further develop the digital journey across other business lines.
Waseem Malik, executive managing director of claims at AXA Insurance UK, commented: “Customers increasingly want faster and more tailored engagement and STeP allows AXA to deliver against these changing customer expectations. We are offering our motor insurance customers greater choice in how they interact with us, with a fast, seamless journey at one of the key moments of truth in insurance—the claim.”
“This is a significant step in our digital transformation journey and one we are incredibly proud of. Customer choice is at the heart of what AXA does, and I’m excited at the possibilities this technology also offers for customers across the wider business.”