New research from Celent finds customer loyalty slips at point of claim
Roundcube, the claims management software provider, today launched into the UK market with a completely new technology solution which enables insurance companies of all sizes to retain and grow customers, by managing the claims management process in the most customer-centric and efficient way.
The new Roundcube solution enables insurers to evolve the claims process from a cost centre into a profit centre. This move to support insurers in service differentiation is supported by new research from Celent, that reveals that at the point of claim the service being offered is not up-to-scratch and at this ‘moment of truth’, insurers risk losing customer loyalty.
Celent research found that the insurance industry needs to improve the customer experience of settlement times, post-claim service and internal information sharing. Critically, under-investing in technology will result in customers walking away at renewal time.
Peter Foy, UK country manager for Roundcube, said: “In terms of sophistication, the UK insurance industry is ahead of the rest of Europe. But the underlying technology infrastructure has been underinvested in for decades and does not support the ambitions of forward thinking insurers. There is a genuine need and appetite for intelligent systems which enable claims managers to deliver the best customer experience possible and drive greater customer loyalty, as shown in the Celent research.”
Unlike legacy solutions currently available to the UK market, Roundcube puts the claims manager in control by enabling them to change business processes and rules and respond quickly to market changes, all without having to rely on IT. The Roundcube solution is based on a flexible, pure service-orientated architecture (SOA) which means it can be easily integrated into any existing IT environment, no matter how complicated.
Roundcube is a wholly-owned subsidiary of CCS, the market leading claims management provider in the Netherlands. The company brings a culture of grounded Dutch innovation to the claims industry, drawing on 30 years of experience of supporting many of the world’s leading insurers.
Some other findings from new research from the analyst house, Celent, ‘The Reality and Opportunities in Claims Management’, which surveyed 221 UK insurance policyholders: