Technology making insurance claims easier
Customers enjoyed superb insurance claims services in 2020, thanks to the wide adoption of technology in the sector, according to reports by industry players.
In its health insurance segment, the online application rate for claims reached 93.2 percent, an increase of 12.4 percent compared with the same period in 2019, said ZhongAn Online P&C Insurance.
Average online claims timeliness jumped by 54 percent compared with the previous year, with the claims direct connection service closing a case in only 29 seconds at the earliest.
Behind these efficient services are the insurers’ utilization of technology, and the effective digital management and operation of their business.
Relying on big data resources and optical character recognition technology, ZhongAn was able to realize direct data connections with more than 1,100 hospitals in 28 provinces and medical insurance centers and regional health information platforms covering 11 provinces and cities. It then automatically calculated compensation based on the insured's medical information and the local compensation standard.
Over the past year, more than 97 percent of online health insurance claims were directly submitted, reviewed and settled online, the Shanghai-based underwriter said.
CPIC Life said it helped around 2.96 million customers make claims and paid 16.4 billion yuan in total last year. And for individual business, nearly 83.4 percent of policyholders chose to make claims themselves on the life insurer’s mobile platform.
Cases facilitated by artificial intelligence technology took an average of 3.8 seconds, the company said.
PingAn P&C Insurance launched a "one-click claims" service for car owners in 2020, which enabled its customers to upload a photo of vehicle damage online and saved them around a third of the time compared with the traditional claims-making process.