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Wednesday, 05 May 2021 22:49

Virtual Claims Becoming the Norm for Auto Insurance

Written by Steve Hallo, PropertyCasualty360
Virtual Claims Becoming the Norm for Auto Insurance Rawpixel.com/Shutterstock.com

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Prior to COVID-19, just 15% of auto insurance claims were handled virtually. Following shutdown measures, nearly every auto claim was, according to LexisNexis Risk Solutions’ Future of Claims report.

Around 60% of claims are still being handled virtually as consumers continue to get more comfortable with automated claims. When it comes to claims automation, 62% of policyholders said it was more convenient to file a claim “any time/anywhere,” while 55% said the route to settlement is shorter with new digital processes.

 

As can be expected, younger generations are showing more willingness to adopt touchless claims, with 68% of Millennials and 53% of Gen Xers reporting the pandemic led them to file a claim online.

 

To read more, see PropertyCasualty360

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