How is digitisation changing the insurance field?

two people looking at a screen during a meeting

Digitisation is a revolution that’s affecting every business sector. The insurance field is no exception. this change helps better the customer’s experience through softwares and apps.

New digital platforms and apps are providing eye-catching services for consumers and insurers alike!

Digitisation has naturally enough been making its presence felt in the insurance market as it has in many other fields. It has obvious applications from both a consumer and an insurer standpoint. In many cases, both parties benefit from the improvements in efficiency digitisation brings, with healthcare providers not being left out in the cold either. For example, there is no longer the need to submit reams of paper bills to insurers, as this can be done via digital platforms. It’s been calculated that submitting claims electronically rather than manually has delivered insurers savings of more than 60%!

With the old style claims management system, there were actions which might have taken hours, days or longer. These can now be carried out in real-time – especially actions that are of key importance to clients. These include eligibility requests and calculations of how close to the coverage limit a customer is getting. Platforms can enable clients to see this information instantly, therefore providing a response to the crucial question of whether they will be covered or not for a given procedure.

Digitisation also makes the automatic adjudication of claims anywhere in the world possible – as well as making it easier to spot fraudulent claims, a win-win situation for insurers and existing customers.

Digitisation – at the forefront of driving better customer health outcomes!

The global pandemic has given a huge boost to the online health and exercise industry, but health insurance platforms and apps have already been there, done that! Promoting client well-being is simply good business sense, but digital, interactive tools are an incredibly powerful way of achieving what has sometimes been a very elusive goal. Personalisation is key here, and there are many digital platforms and apps out there that have lots of customised elements that will appeal. These range from having somewhere to store your prescriptions and appointments to fun quizzes and challenges, coaching programmes, guides, exercise routines and videos. It’s all designed to encourage clients to look after themselves, mind and body, that bit better. A nice extra touch are the chat and forum functions which enable users to connect with others and cheer them on!

If a hospital stay can’t be avoided, there are also tools tailored to helping you prepare for your stay – and for recovering quickly in the post-operative or post-treatment phase.

As you’d expect, these kinds of platforms and apps are big on user-friendliness. Insurance providers in particular have a lot of leeway, even in white-label products, to adapt the tools to their own markets, for instance, by tailoring video content or guides to their particular client base.