It’s a video streaming world.
Executive SummaryWhen insurance carriers promise to deploy technology that will make interactions with customers easier, they frequently don't meet the objective. The use of video for claims management, however, is ripe for success, believes veteran insurance and technology analyst Barry Rabkin. Inspired by a section of his recently published book, "From Stone Tablets to Satellites: The Continued Intimate but Awkward Relationship Between the Insurance Industry and Technology," Rabkin explains why using video to manage claims is a logical and reasonable customer-centric strategy for P/C insurance carriers. THIRD IN A SERIES
Video is a natural technology for insurers to offer customers and claimants. Various anthropological sources of our species state that our human brain is hard-wired to recognize motion, quickly extract meaning and make decisions.
Customers, prospects and, more to the point of this column, claimants should be familiar with video either by subscribing to the seemingly never-ending video streaming platform options or by using their own web-connected mobile smart devices to watch videos like TikTok or to create their own videos.
Customer-Centric Is Claimant-Centric
It is de rigueur for insurance industry professionals to be told that their strategy, tactics and business operations should be or become customer-centric. Whether discussed in terms of customer focus, customer relationship management (CRM) or customer experience (CX), insurance professionals are continually advised to think first and foremost of the customer.