When Shift first announced its partnership with Guidewire, my colleague Stuart Rose, head of Product Marketing, took a look at the importance of core transactional systems for today’s insurers. In light of our recent announcement that the Force Add-on for ClaimCenter is now available in Guidewire Marketplace I wanted to explore why having real-time fraud alerts delivered in ClaimCenter is such a powerful tool for claims professionals.
Anyone who’s even remotely familiar with the trends in the insurance industry knows that delivering an exceptional customer experience is at the top of the list of strategic business initiatives for insurers. And the ability to process a policyholder’s claim as quickly, fairly and accurately as possible is a critical element to making customers happy. This is especially true when you consider that most customers only interact with their insurance company when something has gone wrong.
Now, put yourself in the mindset of a claims professional. You’ve entered a customer’s claim information and within seconds (~ 3 if we’re counting) an indication of the legitimacy of the claim shows up in your ClaimCenter interface. Do all signs point to it being a legitimate claim? Fantastic! Assign it for fast track processing and get it settled without any fuss. But maybe there’s something fishy. Not necessarily good, but you can get your SIU on the case right away, armed with a ton of useful information about why the claim was flagged in the first place.
Fundamentally, with a fraud assessment available in seconds, claims professionals can make faster, highly informed decisions about how to triage the claims they’re working. Claims professionals are happier, SIU professionals are happier and most importantly, customers are happier.
And since we’re also talking about making the integration between these two solutions significantly faster and easier, we also believe that insurers' IT teams will be happier. I guess that makes it a win-win-win-win situation.