Four insights I learned at the ACE and PLRB Conferences in 2022...

For this week's edition of GRC after dark, we are going to talk about insights learned at last week's ACE conference in New Orleans and this week at the PLRB Conference in San Antonio. The ACE conference is designed to help those who lead, direct and manage claims departments access the critical information and connections necessary to transform their customer experience, resolve complex claims and identify areas of opportunity. PLRB provides a forum for claims professionals to hone their craft with like-minded claims professionals. Let's talk about some of the key points highlighted during both conferences.

State of Claims Administration in 2022

ACE assembled a panel of experts to discuss the state of the claims administration process in 2022. Common trends and emerging technologies were discussed during this session. Corporate buzzwords like machine learning, AI, and automation were highlighted. Leveraging technology to provide a personalized experience to the insured is top of mind for Claims Leaders on the panel and for the leaders, I talked to individually. What surprised me about this particular conversation was the emphasis on the digital experience of the end-users using the claims adjudication software. Historically Claims leadership focused primarily on outputs irregardless of the end-user (claims professional) experience. That focus is starting to change. Senior claims leadership within a lot of these insurers are starting to engage with the end-users of their claims administration systems. Ease of use, intuitive interfaces, and easily exportable insights are important for Claims Professionals, which can heighten the claims experience.  I spoke to a claims manager at the PLRB conference and she told me that she quit her job at a large regional insurer due to poor user experience with the claims software platform that had been in use for the last 30 years. End-user experience is important.

Touchless Claims

As a software sales executive who specializes in claims administration software, I have an opinion about touchless claims. ACE and PLRB gave me the opportunity to hear how claims executives are feeling about the concept of touchless claims. For the uninitiated, touchless claims are defined as the process of employing data from policyholders, agents, and others, as well as the use of artificial intelligence to automate the claims workflow, allowing carriers to handle a claim without any human intervention.

This level of automation has led to some uneasiness among Claims professionals. Fears of software platforms with elevated levels of automation replacing jobs are a big concern.

In addition to job loss, claims professionals fear that touchless claims won't exactly be touchless. For more complex claims, claims professionals are right. Complex claims require experienced professionals. Automation will never replace years of experience.

Touchless Claims will help claims professionals automate a lot of the mundane tasks that take up so much of their day. Claims administration platforms like Origami help Claims professionals focus on what's important, not data entry.

Customer Experience

Customer experience is the primary focus of Chief Claims Officers and CIOs in refining the claims administration process. The Root and Lemonade have brought the customer experience to the forefront. Insurance CCOs who have had the same claims adjudication process for decades are rethinking everything. Customers are expecting more from insurers and it looks like investments in platforms that focus on customer experience are where CIOs and CCOs are allocating budget in 2022.

Diversity and Inclusion is a conversation that is not going away

Diversity and Inclusion is a divisive topic not only in the world of claims leadership circles but in the industry as a whole. Ageism is a problem in the workforce. There are not enough women in VP and up positions at these insurers. There are huge pay disparities between minority claims professionals and their counterparts. What surprised me the most is that both conferences spent a significant amount of time and resources addressing both diversity and inclusion-related issues. What surprised me more is the diversity of leaders championing diversity and inclusion in the workplace. Customers value companies that share like-minded values. Diversity may be a strategic selling point for insurers moving into the future.

In Conclusion

As a salesperson who services the insurance market, it's refreshing to have real conversations with claims professionals in person about some of the challenges they face on a day-to-day basis. I met tons of dynamic claims leaders over the past couple of weeks and the common trait amongst them all is their obsession with providing a better claims experience for their customers. If you are obsessed with the customer experience and are assessing claims administration technology, I can help.