Why You’re Not Taking The Best Claims Management Approach

Change is daunting, even in less turbulent times. Travel insurers seeking a route to recovery away from the devastation caused by COVID-19 face tough challenges to redress the imbalance of outgoing costs versus reduced income. For those most affected, this may include a necessary reduction in headcount, forcing the insurer to find ways of doing more with less.

To compound this, those employing a more basic claims management approach, and one which is also without a practical digital strategy, are in danger of being left behind as competitors rollout seamless digital claims experiences that, for the majority of consumers, have become an expected service feature.

So why aren’t these insurers seeking new claims service partners to achieve greater cost-efficiency and up-to-date digital capability?

Based on over a decade of experience in developing fully bespoke digital and offline claims management solutions for insurers that eschew the standard off-the-peg approach, Rightpath Claims have identified the five most common reasons for an insurer to choose to delay necessary change:

Management Time & Cost
Changing service providers is a significant undertaking, one that usually requires interdepartmental collaboration and no small amount of management resource to achieve effectively. This investiture in time, and the perceived cost of spent time lost on other managerial matters, represents itself in a reluctance to change, despite the clear benefits to be gained.

Inertia
Familiar, long-used services, that may have been sufficient when originally commissioned, often exist in an operational comfort zone at the expense of efficiency and progression. The resulting inertia can be damaging to sustainable service delivery, preventing the insurer from reaching their potential and allowing others to seize the competitive lead.

Risk
Changing the claims service solution carries a significant element of perceived risk. Insurers’ reservations on making a switch may include dips in service quality or breaks in service continuity, in addition to the expectation for challenging and complex transfer processes. This can further compound an insurer’s position where otherwise a switch to a best-in-class claims management approach can bring rapid, positive benefits to customer experience, productivity and cost-efficiency.

Client Buy-In
The inertia brought on by unchallenged ways of working can extend throughout the process chain. Even if an insurer is eager to switch up to a more agile, bespoke service model with digital benefits, a client who is yet to understand this as a positive step with a significant advantage presents a critical barrier to the selection of a more progressive provider.

Fees & Claim Costs
On occasion, whilst insurers may concede that they may not be getting any additional value from the claims services they receive, they may have settled into thinking that the service fees and claims costs they pay have remained competitive within the marketplace without recent information from which to draw a comparison. Other, unexplored yet digitally enhanced service delivery, supported by highly experienced claims handlers, may provide greater cost-efficiency together with game-changing added-value as a result of continuous investment in claims.

Why You Should Switch
Rightpath understands insurers’ reluctance to change service providers, in response we have refined our insurer setup process to take the pain and uncertainty out of switching claims management providers.

By switching to Rightpath Claims, insurers benefit from a highly experienced team with over a decade of in-depth, specialist knowledge in the full spectrum of travel claims management. Rightpath Claims works with each insurer to design and deliver a bespoke set-up process to streamline the transfer of services. With supporting information, such as service brochures and pre-prepared Due Diligence packs (*dependent upon claim volume and complexity), to help demonstrate and underpin the value of switching providers to clients and those with significant interests.

Our experience is complemented by a practical digital claims strategy, delivered in-house and primed for continuous innovation. This provides an instant solution for online, self-service travel claims, combined with rapid and transparent claims processing that is optimised for customer experience, reduced claims lifecycles and greater cost-efficiency.

This is why Rightpath brands have been shortlisted for six claims and innovation awards in 2020, alone.

Switch to Rightpath Claims Today, with No Setup Fees**
Make a fully supported switch to Rightpath Claims today and gain outstanding claims management services, greater cost efficiency and a practical digital self-service claims solution, with no setup fees, **subject to claim volumes.

To find out more, or to discuss next steps, call: 01268 214096 or email: marketing@rpisolutions.com, today.