Review and redefine Claims Policy & Guidelines
Claims function is one of the most important milestones in the insurance journey of a policyholder. Customers and channel partners evaluate this parameter before deciding an insurer for their services or distribution of products respectively.
The ease of Claims settlement process takes priority in defining the customer experience. The Claims policy and guidelines need to be linked strongly with Business Quality and Underwriting philosophy of the insurer, to keep it competitive and updated.
AAPL team with its rich experience can assist you to become a leader in this segment. AAPL does not restrict itself to India practices but can also provide insights into the market practices across the globe for leading insurers.
Review of Claims Processes and benchmarking with Industry
Claims function holds itself responsible for deciding on genuine, judicious claims. They are indeed the gatekeepers to ward off non-genuine or fraudulent claims. There is a thin line dividing the two and it requires more than domain knowledge and process expertise to look beyond.
AAPL can step in here to provide an outside-in perspective and help with a benchmarking exercise of various claims ratios. This enables the insurer to define their own baseline and a vision of where they would like to be a year or two years hence. AAPL can define this roadmap and also accelerate this journey for the insurer.