Innovative approach accelerates digital transformation, augmenting legacy systems
Claim Technology has launched a promotion offering insurance process automation to improve customer interactions across quote and buy, mid-term-adjustments and claims, for just 99p each.
Claim Technology’s 1-Click Insurtech platform allows insurers to consume dozens of solutions from best-in-class insurtechs, all through a single API. For example, a motor First Notification of Loss, with in-built support for AI damage detection, classification and analysis is available for just 99p, and an automated process for capturing a non-fault third party can be added for a further 99p.
George Stokes, industry veteran and automation consultant at Claim Technology, says “This leads to massive efficiencies and savings. With the average cost of a motor claim being around £4,000, and upto four times that for a third party injury claim, this service helps insurers mitigate a risk that massively exceeds the original claim cost, helping reduce loss ratios for insurers.”
The company is working with insurtech startups to help bring solutions to market quicker, and then making them instantly available and valuable to insurers via its marketplace of plug-and-play solutions.
“The way insurers currently embed new technology in customer facing systems is typically long and expensive.” said Michael Lewis, CEO at Claim Technology, “By taking an app-store approach and utilising our platform, you can consume what you need and deliver it all through one interface that’s skinned to fit your brand. And at 99p-per-process pricing, it’s risk-free to start benefiting from a cloud computing approach to automating insurance processes in the cloud.
We saw our first platform clients launch their Insurance Process-as-a-Service accounts in Q3. They’ve already met and exceeded their initial goals, and are extending the number of use cases they automate on the platform, as they realise the potential of this new way of working.”
Claim Technology further helps insurers adopt a cloud-based approach to process automation by allocating a minimum of £2,000 funding for new platform users to do a deep dive on their first use case. As part of the 99p promotion announced today, this has been increased to £4,000, for those who take up the offer before the end of December.
About Claim Technology
Claim Technology provides out-of-the-box, best-of-breed technology solutions for future-focused companies in the Insurance sector. Our open insurance platform and 1-Click Insurtech solutions help insurers and their supply chain leverage the benefits of cloud computing by automating insurance processes in the cloud as an alternative to building solutions in-house.
