{"id":5575,"date":"2019-03-15T08:56:50","date_gmt":"2019-03-15T08:56:50","guid":{"rendered":"https:\/\/in4mo.com\/?p=2535"},"modified":"2024-11-24T16:43:24","modified_gmt":"2024-11-24T14:43:24","slug":"digitalization-in-insurance-industry","status":"publish","type":"post","link":"https:\/\/www.in4mo.com\/support\/digitalization-in-insurance-industry\/","title":{"rendered":"Digitalization in Insurance Industry"},"content":{"rendered":"<p><strong>Digitalization in Insurance Industry<\/strong><\/p>\n<p>Published on March 15, 2019 | 1 min read<\/p>\n<p>Insurance claims are a prime candidate to benefit from the digitalization of the insurance industry.<\/p>\n<p>In this well written <a href=\"https:\/\/www.mckinsey.com\/industries\/financial-services\/our-insights\/claims-in-the-digital-age\" target=\"_blank\" rel=\"noopener noreferrer\">McKinsey article<\/a>, the authors list three major benefits one can expect from successful digital claims transformation:<\/p>\n<ul>\n<li>Reducing claims expense by 25-30%<\/li>\n<li>Increasing customer satisfaction by ~20%<\/li>\n<li>Improving claims handling accuracy (impacting cost and satisfaction)<\/li>\n<\/ul>\n<p>As you would expect, to deliver those benefits, a comprehensive and systematic approach is suggested throughout an extended customer journey:<\/p>\n<ul>\n<li>Claims prevention<\/li>\n<li>Digital first notification of loss<\/li>\n<li>Automated claims management<\/li>\n<li>Digital loss assessment and repair<\/li>\n<li>Automated settlement<\/li>\n<\/ul>\n<p>Of course, not all areas are maturing at the same pace and there are clearly a multitude of possible approaches to test and adopt, as demonstrated by the wide range of examples listed.<\/p>\n<p>At <a href=\"https:\/\/www.in4mo.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">in4mo<\/a>, we focus on helping property and casualty insurers make the <strong><a href=\"https:\/\/www.in4mo.com\/building-claims\/\" target=\"_blank\" rel=\"noopener noreferrer\"><u>building claims<\/u><\/a><\/strong> journey as effective as possible for their policy holders, the insurance company itself and its damage restoration partners. We are already adopting a policyholder-centric view and bring optimisation in 4 of the 5 areas listed.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Digitalization in Insurance Industry Published on March 15, 2019 | 1 min read Insurance claims are a prime candidate to benefit from the digitalization of the insurance industry. In this well written McKinsey article, the authors list three major benefits one can expect from successful digital claims transformation: Reducing claims expense by 25-30% Increasing customer&#8230;<\/p>\n","protected":false},"author":9,"featured_media":5853,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[105,71],"class_list":["post-5575","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-digitalization","tag-insurance-industry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Digitalization in Insurance Industry - In4mo Support<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.in4mo.com\/support\/digitalization-in-insurance-industry\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Digitalization in Insurance Industry - In4mo Support\" \/>\n<meta property=\"og:description\" content=\"Digitalization in Insurance Industry Published on March 15, 2019 | 1 min read Insurance claims are a prime candidate to benefit from the digitalization of the insurance industry. In this well written McKinsey article, the authors list three major benefits one can expect from successful digital claims transformation: Reducing claims expense by 25-30% Increasing customer...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.in4mo.com\/support\/digitalization-in-insurance-industry\/\" \/>\n<meta property=\"og:site_name\" content=\"In4mo Support\" \/>\n<meta property=\"article:published_time\" content=\"2019-03-15T08:56:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-24T14:43:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.in4mo.com\/support\/wp-content\/uploads\/sites\/2\/photo-1485827404703-89b55fcc595e-1024x683-1-e1581683404716.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jean-Christophe Andre\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jean-Christophe Andre\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.in4mo.com\/support\/digitalization-in-insurance-industry\/\",\"url\":\"https:\/\/www.in4mo.com\/support\/digitalization-in-insurance-industry\/\",\"name\":\"Digitalization in Insurance Industry - In4mo Support\",\"isPartOf\":{\"@id\":\"https:\/\/www.in4mo.com\/support\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.in4mo.com\/support\/digitalization-in-insurance-industry\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.in4mo.com\/support\/digitalization-in-insurance-industry\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.in4mo.com\/support\/wp-content\/uploads\/sites\/2\/photo-1485827404703-89b55fcc595e-1024x683-1-e1581683404716.jpg\",\"datePublished\":\"2019-03-15T08:56:50+00:00\",\"dateModified\":\"2024-11-24T14:43:24+00:00\",\"author\":{\"@id\":\"https:\/\/www.in4mo.com\/support\/#\/schema\/person\/8212cf151afa611a3da7ba909c04035b\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.in4mo.com\/support\/digitalization-in-insurance-industry\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.in4mo.com\/support\/digitalization-in-insurance-industry\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.in4mo.com\/support\/digitalization-in-insurance-industry\/#primaryimage\",\"url\":\"https:\/\/www.in4mo.com\/support\/wp-content\/uploads\/sites\/2\/photo-1485827404703-89b55fcc595e-1024x683-1-e1581683404716.jpg\",\"contentUrl\":\"https:\/\/www.in4mo.com\/support\/wp-content\/uploads\/sites\/2\/photo-1485827404703-89b55fcc595e-1024x683-1-e1581683404716.jpg\",\"width\":1024,\"height\":576},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.in4mo.com\/support\/digitalization-in-insurance-industry\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.in4mo.com\/support\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Digitalization in Insurance Industry\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.in4mo.com\/support\/#website\",\"url\":\"https:\/\/www.in4mo.com\/support\/\",\"name\":\"In4mo Support\",\"description\":\"Insurance and Construction Software\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.in4mo.com\/support\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.in4mo.com\/support\/#\/schema\/person\/8212cf151afa611a3da7ba909c04035b\",\"name\":\"Jean-Christophe Andre\",\"url\":\"https:\/\/www.in4mo.com\/support\/author\/jc\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Digitalization in Insurance Industry - In4mo Support","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.in4mo.com\/support\/digitalization-in-insurance-industry\/","og_locale":"en_US","og_type":"article","og_title":"Digitalization in Insurance Industry - In4mo Support","og_description":"Digitalization in Insurance Industry Published on March 15, 2019 | 1 min read Insurance claims are a prime candidate to benefit from the digitalization of the insurance industry. 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