Seyna, the insurance platform for insurance brokers, releases its new feature: Seyna Claims. Full SaaS solution, the new product enables insurance brokers to build customized claims experiences from end-to-finish, autonomously. From first declaration of loss to the handling of claims, insurance brokers can now operate their whole claims activity from one interface.
Claims management, a missed opportunity for insurance brokers
Claims management is at the core of insurance. It is what customers pay premiums for: to be compensated, heard and assisted in difficult situations.
The Federation of French Insurance Company estimates the total value of claims disbursed in 2021 for Non-life products at 64.3 billion euros; a considerable amount of capital still predominantly operated through manual tasks.
When it comes to handling claims, brokers face two challenges:
- Technological, due to rising levels of technicality and the highly-specific IT investments required to manage claims at scale.
- Operational, because of the heavy compliance and administrative burden distracting them from their customers and preventing them from attaining the adequate customer experience.
As a result, brokers ended up almost systematically turning to dedicated organizations to run that phase of the business for them, namely Managing General Agents (MGAs) or specialized claims-handling institutions.
But outsourcing claims comes at a price:
- A loss of profitability: claims handling generally earns the intermediary a 10% commission on all written premiums generated by the insurance program.
- Poor visibility and control over the claims experience: claims being handled by a third-party makes it complicated to track and monitor general service levels and the data generated by claims
“Up to this day, the only alternative for organizations willing to keep control over the claims experience is to invest heavily into building bespoke and compliant software. That’s why we built Seyna Claims: so that brokerage firms would not have to choose between control or profitability.” says Guillaume Font, Chief Technology Officer at Seyna.
SaaS to build customized care experiences, in record times and full autonomy
Developed as a full-on SaaS, Seyna Claims enables brokers to gain back control over the whole claims funnel. Without heavy IT investments or any coding, brokers can:
- Centralize the registry of all claims into one simple and intuitive interface
- Simplify all claims settlements with the automatic calculation of compensation and pre-set customer communications sequences
- Offer instantaneous compensations through a payment module facilitating all financial data gathering and KYC compliance measures
- Generate customizable First Notification of Loss (FNOL) forms instantaneously
- Provide expertise analysis in record-time thanks to Seyna Claims’ collaborative dashboard, granting industry experts immediate access to claims information
- Give their claims handling partners access to their Seyna Claims interface, so to keep visibility and control over service levels and data generated by the insurance program
And it’s only the beginning. Seyna is an open infrastructure. As soon as 2023, Seyna Claims will enable instantaneous 3rd-party integration for brokers to plug-in their ecosystem of service providers, in 1 click. Claims handling partners, Artificial Intelligence claims documents analysis, Expertise networks, Fraud detection modules, etc. One platform to run all claims related tasks and craft your very own Claims Experience.
“At Seyna, we believe insurance should be that protective force helping you leap forward. Take the steps, you wouldn’t have otherwise taken. We will not achieve that as a sector as long as we have not addressed the claims experience. That is what Seyna Claims is about: providing the insurance market with a full suite of tools to craft the care experiences their customers need, in record times and full autonomy.” shares Stephen Leguillon, CEO of Seyna
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