Every company has a unique customer journey.
In most cases, the touchpoints exist at the time of payment, and there are clear exchanges of value. But with insurance, the equation isn’t so simple. We pay our insurance so that in case something happens, we can get the help and coverage we need.
That moment when a crisis occurs and we file our claim is the moment the customer truly interacts with the company. And that interaction may or may not have technology embedded in it.
So today, on the FNO: podcast, we are joined by Brett Goldberg, the CEO at Spex to discuss the intersection of claims and technology. Spex is a platform that enables adjusters to essentially replace their clipboards and graph paper to more accurately document property inspections.
Tune in to this episode to hear Brett’s views on the what it takes to be a successful insurtech company, and where the future of insurtech is headed!
The FNO: Tips
- Make sure your technology isn’t just tech for tech’s sake, but rather solving real problems
- At its core, the insurance industry operates as a financial institution, managing risk/reward
- Claims are the moment when the insurance company/product either shines or fails
- Solidify your company’s identity – product/service, technology, etc.
- Very few technology companies know what they’re getting into when entering the insurance space
- Attract strategic customers willing to get in front of the adoption curve with product benefits
- Look at Hippo and Lemonade as examples of newer, edgier carriers
- In property insurance, 80% of the claims volume is increasingly needing to be standardized in the way the data is captured
- Sensory technologies (ex: measuring flood levels) will become critical in the years to come
Fourseventy Claim Management