(Image source: Verisk.)
Verisk (Jersey City, N.J.), a data analytics provider to the insurance industry, has launched OneXperience, a new solution that enables digital engagement between policyholders and their insurers during a critical underwriting step—the home inspection.
The new tool is designed to improve on former inspection approaches which were undertaken after coverage was bound, could be intrusive for customers, costly for insurers and time-consuming for all parties. Traditional inspections could also miss potentially significant information as well, Verisk notes. OneXperience aims to help insurers gain quick, cost-effective access to accurate, current risk data on properties and their contents—without compromising the customer experience—to price and underwrite homeowners policies correctly, according to the vendor.
“Many insurance consumers today are looking for easy digital interactions when they buy a policy,” commens Doug Caccese, president of personal lines, ISO (a Verisk company). “OneXperience enables insurers to engage easily with customers across the policy life cycle—from quote to renewal—as well as gain operational efficiencies that help reduce the cost and time associated with traditional inspections.”
OneXperience is built on shared architecture, already used by many insurers for claim settlement through Verisk’s ClaimXperience platform, and now enabled to facilitate workflow integration throughout the policy life cycle from quote to claim, according to Verisk. The tool enables policyholders to share and upload photos, videos, and other documents that support the inspection process via an app on their mobile devices. The solution yields valuable risk information for insurers on more of the homes they cover, and it gives customers control of a process they may otherwise perceive as intrusive, according to the vendor.
Multiple Points of Engagement
Insurers can continue to use these tools for customer collaboration at multiple points of engagement, including reinspection upon renewal. OneXperience features customer collaboration tools, including instant messaging and shared calendars, to enable easy two-way communication and help maintain touchpoints over time. The solution also allows insurers to centralize and organize documents at the customer level.