How can digital verification enhance insurers claims experience? [Video]

Claims management is a core pillar of the insurance industry. It represents the moment when insurers deliver on their promise to be there for their customers.

But today, insurers face a multitude of challenges that are placing extraordinary pressure on their claims handling processes, including an unprecedented surge in claim volumes, rising fraud, strained resources, and growing consumer demands for seamless digital experiences.

When it comes to verifying customer identities in claims, the need for insurers to modernize, streamline, and secure their digital verification operations to address these challenges has never been more vital, explains JP Mercieca, Commercial Business Development Leader at Interac Corp (Interac).

This past summer saw Canada’s insurers dealing with a record-breaking 228,000 insurance claims, largely due to natural catastrophes like flooding in Ontario and Québec, and the wildfire and hailstorm events in Alberta. That’s a staggering 406% increase over the 20-year average, the Insurance Bureau of Canada reported.

“In addition to …