The biggest concerns mentioned by carriers participating in Eastbridge’s Claims Practices of Voluntary Carriers Spotlight™ Report stem from increased customer expectations for faster turnaround times as well as easy-to-use, technologically-driven customer service capabilities.
Carriers note efforts to increase claim processing efficiencies internally through systems, technology and staffing, and while nearly all carriers are able to pay most of their claims in 10 days or less, slightly less than half of carriers surveyed offer any type of expedited claims payment capability, typically for life or wellness claims.
To streamline the claim process to make it easier for claimants, most of the participating carriers offer some type of integration with medical, disability, or among various voluntary product lines offered, where they either automatically open an applicable voluntary product claim or notify the claimant about the possibility of filing a voluntary claim. To provide flexibility in the claims experience, carriers also offer their claimants multiple ways to file voluntary claims including paper and fax, and most offer online, email, and phone submission options.
Claims Practices of Voluntary Carriers, a Spotlight™ Report
The report is currently available for $3,000. To purchase, call
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving companies focused on the voluntary/worksite benefits market in the United States and Canada.