Piggy in the Middle

Claims, claims, claims. We just can’t get enough of them. As loss adjusters we thrive on our favourite type – construction and engineering. They often come in the form of contract works, public and products liability or professional indemnity claims. And at FT Adjusting, simplicity is at the heart of our claims philosophy, which is why we’re proud of our ‘niche-pertise’.

Now, before I get teary-eyed, I’ll try and get back on track with this blog (I had a point to make, I promise!). The fact is, the claims space is a volatile and diverse cycle. But it also has the potential to change dramatically. In fact, an industry expert has provided his recommendation for digitalising the claims space. And boy, it’s a doozy.

Claim Central Consolidated CEO Brian Siemsen told Insurance Business that we mustn’t “put lipstick on the pig,” when it comes to digitalising the claims space. You heard that right.

Pig

Image: Pixabay.com

“What we tend to try and do, particularly in the Australian and New Zealand industry, is put a different colour lipstick on the same pig,” Siemsen told Insurance Business. “The real challenge is whether we can think disruptively enough in the claims space. Can we map that customer journey and use digitisation to recreate potential operating models?”

While it’s a unique picture to imagine, Siemsen does make some excellent points here. He believes that the advent and acceptance of digital technologies provides the industry with an opportunity to rethink a customer’s journey. This could be all the way throughout the claims process, from researching and taking out a policy to making insurance claims.

In rethinking the operating model, it’s not all about bringing home the bacon. It’s about making successful processes between customer, broker, insurer and supplier. And that’s something you can take straight to the piggy bank.

Words by Skye Jamieson