Auto insurers surely do their part to support policyholders in their moments of need, however, in order to provide appropriate care, active policyholder involvement is usually required – be it by taking a picture of vehicle damage or directly notifying the insurer to report an accident. This reality makes it difficult for insurers to really be there for their policyholders and address their immediate on-scene needs. But maybe there’s another way?
By providing data-driven, digital and contextualized responses based on key vehicle and passenger injury data, drivers no longer need to navigate various service challenges to explain their situation and receive support from their insurer. With automated data-driven insights, insurance carriers can tell their customers: ‘Focus on your immediate needs at the moment of an accident. We’ve got you covered!’.
Here’s how such an approach could work:
Contextual insights into vehicle damages
When it comes to physical vehicle damages, arising from an accident or a minor collision, it is difficult for insurers to know exactly what has happened without active engagement or facilitation on the side of the policyholder. The result: a long and drawn-out claims process that may take days or even weeks to be resolved, causing potential stress for both insurer and insured. Not only does this delay cost the insurer more in terms of claims, it creates friction in the policyholder’s customer experience as they often need to engage an additional party (even their uncle) to figure out how to address their problem, while not forgetting to request reimbursement from their insurer. With detailed insights into vehicle damages at the moment of the crash, insurers can streamline customer experiences by providing digital access to direct repair program (DRP) and affiliated network options, such as specialized nearby repair shops, towing companies and car rental services.
Provide lifesaving potential in severe accidents
In the unfortunate case that a driver experiences a life-threatening accident, it often becomes even more difficult for the insurance carrier to be there for their policyholder. In a severe accident, the driver and passengers may require medical treatment and their physical and emotional state may make it impossible for them to actively reach out for help. In these critical moments, the insurer could benefit from access to detailed vehicle damage and occupant injury data to administer a pre-programmed, automated response, based on the policyholder's need, be it calling the nearest first responders to the scene or sharing traumatic injury data for optimal medical treatment.
Personalized services that make insurers ‘trusted advisors’
In addition to proactively addressing their needs, auto insurance customers want to believe that their carrier has their best interests in mind, especially in the aftermath of an accident. According to recent MDgo survey data, 78% of consumers would be willing to share accident data in the event of a wreck in order to improve their overall experience. With insights into vehicle damages and passengers’ bodily injuries, insurers can present policyholders with a tailored course of action based on their current state (i.e. vehicle drivability), physical location, the time of the event, and other key data points. By developing contextualized engagements with customers aimed at addressing their immediate needs, insurers can win over customer trust, even in their most challenging moments.
Areyou there for your customers when they need you most?
While auto insurers may already feel they are going above and beyond to satisfy and retain their customers, there is still much to be attained in the realms of consumer trust in order to extend policy lifetime value.
With MDgo, auto insurers gain access real-time AI insights into accident and vehicle scenarios, including detailed damage and bodily injury reports, delivering lifesaving potential that drives customer satisfaction and retention.