Steve Dorn, SVP Strategic Product Group, FINEOS
If you’re reading this blog, there is a 58% chance you are doing it on smart phone or mobile device according to a contracted survey by Google. In their recent survey the findings show that smartphones have become an indispensable part of our daily lives. In the survey they cited smartphone penetration has risen to 58% of the population and these smartphone owners are becoming increasingly reliant on their devices. In fact 67% access the Internet every day on their smartphone and most never leave home without it. This new shift in the consumerism shows the smart phone has become a major tool as a multi activity portal. These smart phone users research items about 61% and then purchase online or at the store approximately 38-40%.
With all this technology in play you would think insurance companies would be actively driving mobile technology to streamlining operations, but it seems to continue to be a struggle for some IT departments to get more than a webpage implemented. A recent industry survey done by SMA shows insurance companies are still struggling with core processing functions and even some very basic challenges like forms, data capture, and information sharing. The pace of this evolution is faster than many companies have the time or resources to commit. It’s pretty scary when you think about how fast things are moving and probably scarier to lose customers because they are not being served like they are accustomed. When you think about how fast things are moving, remember LinkedIn was launched in 2003, Facebook was launched in 2004, Twitter in 2006 and Pinterest in 2009. Most of that evolution occurred in a short three to seven year market cycle, so if you wait any longer to get involved, you will have already missed the next big opportunity
So for the insurance company that’s struggling to find answers to address the new mobile technologies, FINEOS has developed VIEWPOINTS, a multi-device based solution that addresses all of your claim processing and support needs on the web, tablet or smartphone. It allows insurance companies to make mobile and web technologies a central part of their strategy to engage and retain the new, constantly connected consumer. Unlike many other portal technologies that merely create a web wrapper around selected apps, VIEWPOINTS is built from the inside out, on top of the FINEOS claims solution. It covers the online needs of Providers, Brokers, Claim Handlers, Claimants and Employers thru simple configuration and deployment. The user experience is personalized to the type of consumer and how they wish to receive their data. This enables clients to leverage all of their existing investment in workflow, process mapping, forms and configuration, while extending the scope and reach of claim data out to the mobile consumer. All of a sudden text messages, alerts, pictures, and forms flow with context, security and routing since VIEWPOINTS is a fully integrated product. Configuration, deployment and maintenance are streamlined for IT since it is part of single FINEOS instance. Claim operations are getting better outcome results because data and communication is fluid and real time in the customer’s hand. If you’re a client-centric company looking to capture the new mobile consumer you need to have a more client-centered product like VIEWPOINTS by FINEOS.