Award Applications

Digital insurer Entry

THE DIGITAL INSURER’S EUROPEAN START UP INSURTECH AWARD
Who we are:

RightIndem, named after the need to deliver the ‘right indemnity’ for the customer, was founded in January 2016 as a solution to improve the customer journey during an insurance claim with digital assistance.

Insurance claims can be a painful experience. Call centre systems dictate a process, leaving customers frustrated and confused most of the time. Customers want to complete the process as quickly as possible and get back to the position they were in before the incident – this is ‘the promise’ the insurers make to their customers.

Our Software as a Service (SaaS) platform puts the customer back at the heart of their claim, enabling them to dictate the pace of the process, whilst providing simple status updates. This enables faster resolution and improves claim centre productivity, enabling insurers to truly deliver on ‘the promise’.

Ultimately, RightIndem’s self-service model can reinvent the claims function through enabling data, documents and multimedia transfer seamlessly between policy holders and insurer’s online claims infrastructure at a time when people need and want to interact with it.

Why are we the European Insurtech Startup of the Year?

Our modular cost effective solutions are being utilised by insurers improving the customers interaction by removing the need to discuss with a claims handler on every claim the factual information which is needed to compile it. That is not to say that a call will not take place or, indeed be needed, this just makes the interaction between claims handler and policy holder a more caring exchange concentrating on the current needs of the customer such as “are you okay”, What do you need right now” and “how can we help you in this time of need”.

We also set expectations in the solutions of how a claim will work, and provide key evidence to a policy holder on what things means to them as their claim progresses.

By working with our end users (the insurers policyholders), we are able to smoothly provide real time information and advice in a manner that a customer wants to accept (delivered in audio, video of sensuary means).

Taking these steps to digitise the claims process, we aim to raise the standards for insurers and bring them into line with other key technology driven industries who have made similar transformations and enjoying the key rewards.

From our exhaustive investigations in to the claims market from our specialist team, we have been able to approach the claim not only from a customer perspective, but also understand and address the needs of the end user from a physcological perspective.

Through our ongoing development we aim to grow the digital enrichment in our platform and modules to give the end customer the best choice available for a possible outcome.

Why would we do this you ask, well it is simple, as we all want to feel valued and involved in the way our claim is operated. The fact is that most of us do not really understand the amount of work involved in the claims process so it generally goes unnoticed.

What we are doing, is understanding that no matter how much a claims team can be trained to excellence, a policy holder at point of loss reverts back to zero understanding of what is expected, and will look to the insurer to offer “a solution”. Where we differ, is by using an understanding of the customers needs via questioning and digital interaction, we can utilise technology to drive the best outcome for the customer, and also some other potential options which may be more suitable considering other needs.

From EFNOL, through to repair/settlement or replacement, our services are geared towards a customers needs, to allow them to always get the best information when then need it to understand the best way a claim should be dealt with.

All of this is great for a customer, but surely this comes at a cost for such a premium service? Well, actually we are demonstrating huge savings for our key customers who are taking our modules , with many straight benefits to be addressed from a customer driven insurer business.

These can be listed as reduced claim outstanding time, reduced touch points, improved interaction with insurer systems, enhanced connectivity between key stakeholders and the list goes on.

Our company started with a key phrase of “delivering on the promise”, and this is what we have continued to do with our external partners, and indeed our internal teams. We have grown both in size and scale, and also confidence that what was once considered radical, is now actually common sense to most people (and we take great pride in awakening the market to that).

“Our people” are actually “your people”, and we have taken our experience in claims and worked with the market to deliver a customer centric claims experience that will never be perfect (given the nature of a loss), but we hope that the customer will complete the journey feeling involved, valued and most importantly fulfilled.

To us, running a digital claim is not about digitising a claim, it is understanding the needs of your customer at the point of a loss with a step by step need to know process which helps every learning style through a difficult time. We hope our end customers share their valued experience and the value of their insurance in the fact that their insurer “Delivered on the promise”.