By: Bruce Ceprnich Senior Manager, Hollard Motor Assessing & Claims Operations
Motor insurance is a high-performance environment: it has one of the highest claims frequency ratios, compared with other lines of insurance. On top of this, customers’ service delivery expectations are considerable.
The Motor claims value chain thus needs to be efficient and on point, which is not always possible using traditional approaches.
In advancing service delivery while becoming more efficient and ensuring sustainability, technology becomes key. Hollard Insure has embraced the need for technology by developing, harnessing and implementing artificial intelligence (AI) into our driveable motor vehicle assessment processes.
When they submit a claim, our customer receives a link taking them to a platform where they are prompted to provide claim information and upload photographs. Thereafter, the AI detects damage and the “golden ticket” to achieve all economies of scale; the AI is also able to assess and quantify the repair cost.
With this process, Hollard Insure can quantify the loss within 15 minutes. Such exciting technology keeps Hollard Insure relevant with customers, who prefer transacting online, and allowed the insurer to also explore straight-through processing for driveable motor accident claims.
This will include all key facets of the Motor claims process in a seamless end-to-end process. However, a question arises when explaining the key objectives Hollard aims to achieve through these process, system and technological enhancements: what happens to our human capital?
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Through embracing new technologies, Hollard Insure has found that it is able to fulfil its business purpose of creating and securing better futures for its people, by opening up exciting career opportunities for them. With technology lifting much of the load, our Motor assessing team members can now fulfil a more intrinsic role during the claims process. They are now more present within our external supply chain markets, such as motor body repairers.
This stimulates better collaboration, and quicker and more effective decision-making. This benefits the customer through better communication on the repair status of their vehicle, and improved repair turnaround times.
By introducing cutting-edge technology to enhance processes, Hollard Insure has also been able to maintain its win-win-win philosophy for customers, brokers and itself. Using AI has aided the customer journey through a formal onboarding to Hollard’s Motor claims processes, and sharpened turnaround times.
Our supplier network, especially motor body repairers, receive greater support from Hollard Motor assessors, who have increased capacity thanks to AI performing initial assessments.
Through embedding AI technology into our Motor claims processes, we demonstrate how Hollard and our broker partners are moving with the times, and providing cutting-edge technological means to perform Motor claims processing.