According to a survey conducted by insurtech Sprout.ai, 95% of insurance claims handlers in the U.K. and U.S. are confident that technology will have a significant impact on claims processing within the next five years. However, the survey also reveals that 55% of respondents struggle with reviewing and processing claims documents and evidence, and an equal number are dissatisfied with compliance and reporting processes.
Additionally, the polling shows that over a quarter (28%) of claims handlers receive complaints about delays or lack of communication, while 20% experience requests for more transparency in the claims process, and 17% receive suggestions for faster processing. Interestingly, more than twice as many U.K. claims handlers struggle with retrieving and reviewing claims documents and evidence compared to their U.S. counterparts, at 36% versus 14%.
Furthermore, the survey results highlight specific causes of claim delays in different insurance sectors. For instance, 35% of motor insurance claims experience delays due to inadequate customer information, while 30% of pet insurance claims are delayed by document retrieval and review, and a similar percentage of health and dental insurance delays are attributed to approval processes.
This research provides valuable insights into the challenges faced by insurance claims handlers and the potential for technology to streamline claims processing in the near future. The survey was conducted in collaboration with Opinium in March to April 2021
