New report looks at digital FNOL capabilities across 18 vendors helping to transform the claims process with new technologies
Majesco, a global leader of cloud insurance software solutions for insurance business transformation, today announce that Majesco Digital Customer360 for P&C has been profiled in Aite-Novarica Group’s A Digital FNOL Market Overview: First Impressions Last Report.
Claims processing and handling has become the moment of truth for insurers. In today’s rapidly evolving, digitally enabled market, claims management is increasingly complex and an opportunity to delight customers. Historically, claims systems focused on claims costs and operational efficiencies, but today’s claims systems must take a holistic view of the entire end-to-end insurance process, with a particular focus on how FNOL is handled with an outside in approach.
“We are delighted that Majesco Digital Customer360 has been recognized in Aite-Novarica’s report which highlights the importance of digital FNOL,” said Manish Shah, Chief Product Officer at Majesco. “Today’s realities and tomorrow’s expectations for claims require a reimagined, digital approach that provide customers with a holistic, outside in approach to handling First Notice of Loss (FNOL). Thinking beyond the traditional transactional portal to a robust customer experience, enables insurers to deliver exceptional customer value service that today’s digitally savvy customers have come to expect. Majesco Digital Customer360 provides this reimagined, holistic approach inclusive of servicing, billing, and claims.”
As the report states, to transform the traditional FNOL process to a truly digital experience, insurers need to think from a customer perspective. A digital FNOL should be an omnichannel experience, providing self-service capabilities and empowering customers, agents, and insurance professionals. To leverage new technologies and create a seamless claim journey, insurers need to consider providing customers with an omnichannel experience, intuitive user interface, intelligent decision engine, seamless core system integration, robust ecosystem, and effortless data ingestion.
“Majesco recognizes that when it comes to customer experience, especially for FNOL and claims, customers require personalization, simplicity, and consistency—all in a one-stop shop to conduct all their insurance transactions for servicing, billing, and claims on a single portal solution. To meet this customer-centric objective, Majesco has developed Majesco Digital Customer360 for P&C, a customer-driven self-service portal,” said Stuart Rose, Senior P&C Analyst at Aite-Novarica.
Built on the Majesco Digital1st® Insurance no code / low code platform, Majesco Digital Customer360 for P&C provides that next-gen customer experience that compares to today’s leading digital companies. Majesco Digital Customer360 for P&C is an accelerator that is designed through the customer lens to enable easier and more seamless interactions across service, billing, and claims – an intentional upgrade from the typical transactional experience through separate portals and applications.