Major Carriers Crossing Consumer Digital Divide with Airkit’s New CX Solutions for Insurance

New digital self-service solutions lower carrier cost to serve by 40%, achieve 0% NIGO, 2x sales efficiency, and increase CSAT by 30%

REDWOOD CITY, Calif.--(BUSINESS WIRE)--
Airkit, the leader in digital CX automation for the enterprise, today announced an industry-first solution suite for insurance carriers to rapidly deploy new digital self-service solutions for Property & Casualty (P&C) and Life & Annuity. From policy enrollment and self-service administration to automated claims, carriers can now respond to the intense market demand for digital insurance with customer journeys that can be rapidly composed, launched, and reconfigured at will. Airkit delivers world-class digital experiences by extending the systems insurers already have (e.g., billing, quoting, enrollment, policy systems).

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Major Carriers Crossing Consumer Digital Divide with Airkit’s New CX Solutions for Insurance (Graphic: Business Wire)

“For anyone in the sector today, a set-it-and-forget-it approach to CX does not work in the digital era, which is why it’s imperative for companies to compose digital experiences on the fly while flowing customer information to and from existing legacy systems,” said Adam Evans, co-founder and CTO of Airkit. “We’ve built a cloud-based SaaS solution to do just that – where consumer interfaces can be rapidly created and expired on top of a persistent data structure that can integrate with any system via APIs.”

In Airkit’s recently published 2021 State of Digital CX survey, more than 40% of consumers indicated they were either ‘likely’ or ‘very likely’ willing to switch to an insurance provider with better digital service offerings. To close the expanding gap between digital have and have-nots, Airkit’s Digital Customer Experience Automation platform pioneers a new way for insurance carriers to compose, test, and launch digital customer journeys 10x faster. By using Airkit, enterprises and insurance carriers lower overall cost to serve by 40% through digital deflection of high volume, repetitive call requests and achieve 0% not in good order (NIGO) forms with Smart Data Capture that pre-populates customer data from systems with real-time validation. Carriers can also increase customer satisfaction (CSAT) by 30% and 2x sales efficiency to unlock millions in annual revenue.

Comprehensive Suite of Self-Service Digital Insurance Solutions

The solution suite integrates with existing core systems (quoting, underwriting, enrollment, billing/financial, policy, claims, contact center, CRM) and provides rapidly configurable pre-built customer journeys for policy enrollment, self-service policy administration, claims, and renewals.

With Airkit, carriers gain immediate digital capabilities to:

• Launch new digital experiences with rapidly customizable templates, such as first notice of loss (FNOL), claims and payment status, and appointment scheduling with agents;
• Deliver fraud prevention with secure pre-call data collection and validation for claims processing;
• Provide secure digital self-service for billing and payment transactions with pre-built integrations with Stripe and Plaid;
• Digitize paper processes with dynamic, reflexive forms that ask questions at the right time and meet state-by-state variations; and
• Meet compliance and regulatory requirements while orchestrating real-time communications among multiple actors (employers, employees, adjusters, claimants, agents, reps, etc.)

Airkit Complements Insurance Carriers at Any Stage of Their Digital Journey

“The pandemic has forced carriers to re-examine their digital customer experiences as customers have flocked to digital channels instead,” said Paul Legutko, senior principal at Aité-Novarica. “This has sparked greater market demand for CX automation technology solutions that elevate digital customer experiences.”

Whether the objective is to fully digitize each interaction in the customer lifecycle, or to respond to pressure on the call center, Airkit makes it easy to orchestrate goal-based customer journeys using a carrier’s existing engagement channels and customer data platforms. For insurance, Airkit integrates into popular technologies such as: Genesys, Guidewire, Duck Creek, FINEOS, Plaid, Docusign, Twilio and more.

For carriers seeking relief from surging call center volumes, Airkit’s new AirControl agent toolbar shortens call handling times by allowing digital experiences to be triggered from within a Genesys console during a live call. The agent-triggered experiences can be used for authentication and secure collection of sensitive data such as signatures and payment.

“The pandemic has created a day of reckoning for those who cannot keep up with the digital needs of their customers,” said Stephen Ehikian, CEO and co-founder of Airkit. “Over the last 12 months, we have seen heightened market demand as companies race to redesign their customer experience to be frictionless and enable further market growth in a competitive landscape.”

Since entering the market in the past year, Airkit has helped Fortune 500 carriers, international insurers, and US states automate claims processing, accelerate policy enrollment, eliminate paper, and prevent fraud in response to the pandemic. Airkit’s rapidly configurable insurance templates add to an existing set of capabilities for carriers operating across P&C and Life and Annuity. Most recently, MetLife automated customer enrollment for life insurance. After digitizing its Statement of Health paper process, it saw 99% of submissions completed online instead of paper, 50% higher completion rates, and 0% NIGO (accommodating state by state form variations). Additionally, Airkit has also helped:

• A Fortune 500 insurance carrier 2x its connect rates between warm prospects and agents for P&C policy enrollment and renewals.
• A Fortune 500 insurance carrier automated digital deflection for the annual selection of personal injury protection options to be compliant with newly enacted state regulations.
• A Fortune 500 mutual life insurance provider lowered the cost to serve for high-volume call requests including its HIPAA authorization process, update on claims status, and short-term disability form intake.
• A Fortune 500 insurer reduced call volume by 3x with digital self-service appointment scheduling for its claims process.

For more information, visit Airkit at InsureTech Connect 2021 during October 4 - 6 in Las Vegas. Book a meeting with the Airkit team here.

Resources

[Customer Success] MetLife Automates Life Policy Enrollment with Airkit

[Blog] Reinventing the Insurance Customer Experience

[Web] Digital Experiences for Insurance

[Solution Brief] Airkit Solutions for P&C

[Solution Brief] Airkit Solutions for Life

[Webinar] How to Automate Digital CX for Insurance

About Airkit

Airkit provides Digital CX Automation to help Fortune 500 and enterprise brands lower cost to serve, drive revenue, and increase CSAT - faster. Easily launch customer-facing experiences that are hyper-personalized, span any channel (text, chat, voice, web, app), and extend any system via APIs. To learn more about Airkit, visit www.airkit.com.

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Sara Ajemian, SourceCode Communications

[email protected]

Source: Airkit