A recent survey by insurtech Sprout.ai has revealed that a majority of claims handlers in both the U.K. and U.S. believe that technology will have a significant impact on claims processing in the next five years. However, the research also shows that there are several challenges that claims handlers face when it comes to reviewing and processing claims documents and evidence, as well as ensuring compliance and reporting.
One of the most common issues faced by claims handlers is retrieving and reviewing claims documents and evidence, which is particularly challenging for U.K. handlers compared to their U.S. counterparts. In fact, 36% of U.K. handlers reported difficulties with document retrieval and review, while only 14% of U.S. handlers experienced similar challenges.
Another major challenge faced by claims handlers is compliance and reporting, which was cited as a problem by more than half of respondents in both regions. Additionally, many complaints were filed about delays or lack of communication in the claims process, while others mentioned requests for more transparency and faster processing times.
Interestingly, specific delays in different types of insurance claims were attributed to different factors, such as inadequate customer information in motor insurance claims, document retrieval and review in pet insurance claims, and approval processes in health and dental insurance claims.
Overall, the polling highlights the importance of leveraging technology to streamline claims processing and improve communication and transparency in order to effectively address these challenges faced by claims handlers in both the U.K