In recent years, this mindset has changed. Data is what shapes products and services, improves customer experiences, and ultimately defines brands. To downplay the role of people, is to fundamentally misunderstand the way that businesses work and the way that ideas are collaboratively formed.
Developed locally by Insuretech sensation 4-Sure and headed up by actuary-turned-entrepreneur Shalen Moodley, the 4-Sure platform seamlessly connects the claims ecosystem consisting of the customer, broker, insurer, service providers and suppliers and manages all complex interactions and sequencing required to deliver superb customer experience, optimal claim cost and fast turnaround times.
Furthermore, costs can vary for similar jobs and the use of assessors for approval of routine jobs results in time delays and increased administration costs. Often, the result is dissatisfaction on the part of the customer, disrupted processes, unnecessary delays and often the possibility of an unhappy customer withdrawing their insurance and other investments with the associated brands of the insurer.
Creating an extensive database, making software available to service providers and connecting suppliers of raw materials as well as early payment mechanisms completed the service circle.
As well as speeding up claim response times, the process was also efficient and fundamentally more effective. Taking inspiration from the concept launched by the Uber transport system, the insurance platform includes a vastly increased list of qualified and rated service providers.
As in the ride-sharing service, becoming listed requires that several stringent criteria are met by service providers.
When a claim is registered — including the time when the customer requires assistance — it drops into the platform. Appropriate service providers listed can then respond and confirm their availability.
To participate in the platform a service provider must have a smartphone and the software, provided free by 4-Sure. Service providers on 4-Sure do not have to carry an extensive array of raw materials to fulfil allocated insurance claims work.
Because of the volumes involved, we have been able to negotiate favourable prices for these services which are now on offer at more than service points across the country. The service provider bills only for the time and labour spent on the job at the agreed rates.
Their bills are then submitted using the 4-Sure software, go directly to the insurer and are generally settled within hours.
Depending on the service they deliver and the ratings they receive, they are in control of just how much work comes their way. As a job is loaded on the system and service providers then bid for the work, competition is assured and opportunities for work are equal across the spectrum of service providers — a new paradigm which rewards performance with more work and manages the non-performers off the platform.
Jobs that appear on their systems also cover the areas in which they choose to operate. As is the case with their Uber driver colleagues, those closest to the customer can make their presence known and compete for the work. For insurers, who can track the response times of service providers in real-time and contact them electronically if they are late on site, the major benefit is that the loss of customer contact at the point of handing over a claim to an incident manager no longer exists.
Insurers were able to use a sophisticated eco-system that is a centralised platform connecting all players in the supply chain, facilitating a seamless claims fulfilment process. Customer contacts their insurer via their contact centre, their website, or a digital self-service channel and this claim, is electronically dropped into the 4-Sure to facilitate the claim process automatically.
The message enables specific skills, customer location, a time required for service and other factors to be selected so that it can be responded to by competing service providers. Explains Moodley, co-founder of 4-Sure and one of the innovators behind the home-grown platform that caters specifically for local needs and is believed to be the leading services of its type anywhere in the world:The changing face of marketing By John D.
Louth The changing face of marketing. Article Actions. Share this article on LinkedIn; Share this article on Twitter But this matter of becoming a worldwide company is only one of the major pressures in the changing complexities of business today. To keep pace with these changes, and to play the.
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Changing the face of business communication If we had invented video communications before the aeroplane, we would waste far less time and money on business travel today. Dec 10, · Business doesn't happen face to face as often as some would like. With so many workers worldwide now working in virtual teams, many business relationships depend on technology.
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