The Problem: Digital Silos & Legacy Processes Create Painfully Broken Insurance Journeys
Too often customers are bounced between different channels (like face-to-face, portals, phone calls, email, and printers) just to open a new policy, modify an existing one, or submit a claim. Digital silos that are poorly integrated demand additional steps from customers to complete and rely on manual legacy processes like PDF, scan and even fax.
These high-friction and needlessly lengthy sales and servicing cycles are costing insurers and brokers new and existing customers to competitors, while inflating costs, draining employee productivity and creating compliance nightmares.
Today's Typical Broken Insurance Journey
Siloed systems and legacy processes make it impossible for customers to complete quickly, compliantly, and remotely.
Customers attempt to complete their transactions online or over the phone, but are frequently bounced to additional channels — adding friction and frustration:
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The Impact of Broken Insurance Journeys
Digitally broken insurance processes damage the KPIs insurers value most, leading to:
Poor Completion Rates
Disjointed onboarding and new policy cycles lead prospects to drop off from the process due to confusion or frustration.
Long Turnaround Time
Customers who fail to complete insurance requests quickly and digitally are at a higher risk of abandonment or churning.
Inflated Costs
Integration and maintenance of digital silos burdens IT resources while manual processes ramp up Cost per Claim.
Low NPS
Net Promoter Score (NPS) is harmed during both onboarding and servicing due to poor customer experience.
High Agent Turnover
Agents are dissatisfied due to choppy and ambiguous processes.
Burdensome Compliance Procedures
Human errors and misunderstandings are rampant for both agents and customers, complicating compliance.
The Solution: Digitally Complete Every Insurance Process with Lightico's Digital Completion Cloud
Lightico's Digital Completion Cloud enables insurers to digitize all customer-facing interactions throughout their customer's lifecycle, from onboarding and new policy sales to processing claims and servicing. One end-to-end digital workflow lets insurers complete processes quickly, and in the way that's easiest for their customer — directly on their mobile phone.
With all functionality seamlessly integrated, insurers can collect signatures, digital forms, and documents from customers, review supporting documents together in real-time, and notify them on completion. Lightico makes frontend processes more efficient so insurers can minimize back-office overhead, swiftly complete processes and accelerate time to ROI while enhancing customer loyalty.
Businesses can automate and orchestrate end-to-end journeys with no-code workflows. They can set, monitor and improve journeys to ensure they meet both customer expectations and business needs.
And they can plug into secure systems through pre-built integrations and robust APIs to maximize efficiency and productivity across all touchpoints.
How the Digital Completion Cloud streamlines entire customer journeys:
Truly Real-Time
All required documents are quickly collected, and digitally completed in real-time on your mobile phone. By removing the waiting period, costs, frustrations, and turnaround time are reduced.
All In One Place
Insurers can manage all customer-facing tasks (including eSignatures, ID verification, document collection, Ts & Cs, payments) from one system.
Intelligent & Automated
Any business user can design intelligent workflows that automate the full journey and customize it to each customer or use case, preventing missed steps and silos.
Fully Integrated
Insurers get more value from their existing
system via pre-built and fully integratable
APIs. Enjoy fast time to operations and value with low risk.
The Business Impact of Digitally Complete Journeys
The Lightico platform streamlines entire insurance processes by integrating these core capabilities:
No-Code Workflows Scale Customized Insurance Journeys
Traditional solutions force insurers to turn to their IT department each time they want to make a change. In many cases a change request needs to be raised with the vendor. This leads to inefficiencies and potential compliance lapses.
In contrast, we believe in empowering the people who know the processes best to make immediate adjustments to workflows without delay. Insurers and brokers that deploy Lightico’s solution benefit from zero coding requirements from IT and development teams. Our customers easily configure and update workflows, forms, fields, and offerings from a user-friendly, drag-and-drop admin console.
Optimize Onboarding, Policy Sales, & Claims Processing With Automated Workflows
No-code workflows enable easy configuration of entire customer journeys. Add key capabilities and conditions to workflows to optimize KPIs in an agile way.
The Difference of Digital Completion
Accelerate Customer Acquisition, Policy Sales, & Claims
Onboard new customers, open up new policies and process claims faster by automating the collection of forms, signatures, documents and payments.
Lift Customer Satisfaction
Ensure a headache-free, frictionless experience for greater satisfaction and loyalty.
Ensure Compliance & Mitigate Fraud
Ensure a secure audit trail and reduce the risk of fraud while maintaining full compliance.
Cut Management Costs
Slash turnaround time and eliminate rework and staff overhead to keep the costs of processing down.
Eliminate Paper Waste & Reach ESG Goals
Greatly reduce carbon footprint and strengthen sustainability by replacing paper documents with entirely digital processes.
