Blog

Bringing more than 30 years of insurance experience, alongside spearheading the creation of several start ups and driving innovation for large global firms, Manjit Rana joins Clearspeed as General Manager and Head of its UK, EMEA, and APAC insurance markets.

The insurance industry has a foundation with customers built on trust, but that trust is being eroded from several angles. The perfect storm of inflation, rising consumer expectations, and growing fraud is being accelerated as we navigate increasingly extreme weather.

With technological advances over the past decade, insurers have made strides in implementing technology to pay claims for the good guys faster while deterring opportunistic fraud. Although fraud technology used at first notice of loss (FNOL) has made it increasingly difficult for individuals to commit insurance fraud, the industry has a long way to go.

Nearly every insurance organization—from local agents to corporate headquarters--uses integrated voice response technology to interact with callers and automate services. Thanks to DSP, NLP, AI, and other developments, there's a growing ecosystem of voice technologies beyond IVR striving to improve both enterprise operations and the customer experience (although nearly 90 percent of people still hate phone menus.)

As an insurance professional you know that the customer claims experience is key to being successful in the industry. Collecting quickly on claims after accidents and disasters is why people buy policies – this is one of the great financial safeguards for consumers worldwide. Paying out on valid claims expeditiously is a core value that insurers provide.