Yesterday at the EXCELLENCE IN CLAIMS MANAGEMENT 2018 conference held in Amsterdam, Sara Costantini, Managing Director at CRIF Decision Solutions Ltd., gave a speech entitled ‘Using claims to boost revenue: how to keep focus on cost reduction and client satisfaction’.
She explained how sharing claims information can bring benefits to insurance companies, and she also talked about CRIF‘s UK experience, where it successfully manages the motor, PI, household and pet insurance claims systems. CRIF data sharing systems in the UK, which currently hold over 7 million households, 11 million motor and 12.5 million personal injury insurance claim records, help insurers increase efficiency and improve the customer journey by accurately assessing risk, and automatically detecting suspicious fraud cases at the underwriting and claims stages of the insurance lifecycle.
The agenda featured the implementation of technology, such as block chain, open source intelligence and chat box to modernise claims management, and streamline customer retention and loyalty. Being innovative and delivering a truly customer-centric claims service will definitely meet evolving customer expectations. Advanced transparent claims processes and continuous fraud monitoring and detection are crucial to surviving in this highly competitive market.
On day 2, CRIF was invited to join the panel discussion: is fraudulent behaviour a pattern in customers? Experts and key players coming from different European countries discussed how and when it is possible to stop fraudulent behaviour before it happens, whether fraud behaviour is consistent across different industries or not, and if it can reveal identifying factors to help fraud prevention and detection. A really interesting and interactive discussion!
