PARIS and BOSTON, January 24, 2021 – La Banque Postale Assurances IARD, La Banque Postale's insurance subsidiary which handles more than 100,000 household insurance claims each year, today announced it has selected Shift Technology to develop a new digital solution. The insurer’s newest offering will work as part of a multichannel system, which complements the advisers already available to answer customers’ questions on the phone, allowing customers to file claims online and track their progress and payments in real time.
Digital services designed for real people
The new system was developed to make customers’ daily lives easier, speed up the processing of their claims and improve customer satisfaction. La Banque Postale is expanding its online customer services channels to now support such activities as:
- Make a claim online: Helped by an intuitive chatbot, the process is available 24/7 to walk customers through every stage of the process, whatever the type or claim (water damage, broken window, storm, snow, hail, etc.). In more than 84% of cases, the chatbot is able to handle the whole initial claim process and inform customers about the next stages (appraisal, issue of a quotation or invoice).
- Track the progress of their claim: Policyholder have access to claims status, in real time, using any online device (computer, smartphone or tablet).
- Compensation method Selection: Customers can agree to compensation for damages or select a tradesman to carry out repairs. In the near future, customers agreeing to offered reimbursement can get their money immediately with Instant Payments. Currently payments are made within 48 hours.
To complement the new service, customers can ask to speak to an adviser at any time. The adviser will call them back in less than 24 hours, provide help and support and take over managing the claim at any stage in the claim pathway.
“We partnered with Shift Technology because we want to maximise our customers’ satisfaction, by offering them an alternative pathway that is fast, smooth, straightforward and suits the new digital habits of consumers,” explained Michel Andignac, Head of Non-Life and Managing Director of La Banque Postale Assurances IARD. “Streamlining the customer pathway and digitising non-life insurance pathways is part of La Banque Postale's wider strategy for the non-life business. We aim to have 100% of pathways digitised by 2025.”
Partnership with Shift Technology
To deliver this project, which was developed as part of La Banque Postale's strategic plan, the insurer partnered with the insurtech company Shift Technology. This start-up is France’s 13th unicorn, currently valued at over a billion euros, and uses AI to optimise decision-making and improve customer experiences.
After weeks of testing, this new solution offers customers and advisers a fine-tuned interface that automates the whole claims process from the moment of initial filing to settlement, using AI models to deliver real-time decisions and instant estimates of damages.
About La Banque Postale
La Banque Postale group, including CNP Assurances, is a leading European bancassurer at the forefront of sustainable finance. With its diversified business model and wide range of affordable products, the Group partners with 20 million individual and business customers. A subsidiary of Le Groupe La Poste, La Banque Postale offers local banking services through 17,000 contact points, including 7,600 post offices, throughout France.
The new strategic plan, “La Banque Postale 2030”, is designed to support La Banque Postale’s ambition to become France’s favourite bank, thanks to an integrated, multi-channel bancassurance offer organised around three distinctive brands: La Banque Postale, for day-to-day banking services, Ma French Bank, for mobile banking services, and BPE, for private banking services. As a community bank, La Banque Postale is fully focused on shaping a just transition to an economy and a society capable of responding to environmental, social, regional and digital challenges.
About Shift Technology
Shift Technology delivers the only AI-native decision automation and optimization solutions built specifically for the global insurance industry. Addressing several critical processes across the insurance policy lifecycle, the Shift Insurance Suite helps insurers achieve faster, more accurate claims and policy resolutions. Shift has analyzed billions of insurance transactions to date and was presented Frost & Sullivan’s 2020 Global Claims Solutions for Insurance Market Leadership Award. For more information, please visit www.shift-technology.com.
Press contact – La Banque Postale
Stéphanie Noel – +33 (0)6 38 27 32 91 – firstname.lastname@example.org
Press contact - Shift Technology
Rob Morton - +1.617.416.9216 - email@example.com