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June 2021
Engineering the
Next-Gen Digital
Claims Organisation
for Australian
General Insurers
In recent years, insurers have invested in technology
platforms and process improvements to improve
claims outcomes. Leaders will build on this foundation
across the claims landscape, spanning experience,
operations, customer service and the overall supply
chain with market-differentiating capabilities to
achieve sustainable results.
2 / Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers
Executive Summary
Gradual macroeconomic shifts have reshaped the Australian
insurance industry. The customer and employee mix is shifting
dramatically. Australia’s millennial generation is expected to
grow by 17%, from 7.2 million in 2016 to 8.3 million by 2026,
according to the Australian Bureau of Statistics. These digital
natives will increasingly expect seamless, omni-channel, real-
time interactions and experience.
At the same time, the region’s increasing climatic volatility and catastrophic patterns will
pose tough challenges for insurers. Digital change, moreover, will continue to disrupt
the traditional tenets of the insurance business.Just over the horizon, for example, are
the rollout of electric cars by leading auto brands; the testing of autonomous vehicles by
governments; the entry of connected-home providers like Beam and Nest; and wearables.
Taken as a whole, these changes mean the insurance sector must come to terms with new
risks, channels, customers and competition.
Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers / 3
Claims and their associated expenses account for such a large
percentage of carriers’ total expenditures that even a fractional
reduction in losses paid (and associated expenses) can have a
material impact on the bottom line.
And with the rise of insurtechs and other new competitors, traditional Australian insurers
must move quickly to innovate and differentiate, infusing digital propositions into their
business models, operations and systems. Among core functions, the claims process area
holds significant potential. In fact, it holds unparalleled opportunities not only to remake
customer engagement but to improve efficiency and process excellence.
Claims organisations occupy a pivotal crossroads where customer experience and
business profitability meet. The COVID-19 pandemic has magnified major operational and
profit challenges for the claims function and has accelerated the need to achieve greater
profitability. Claims and their associated expenses account for such a large percentage of
carriers’ total expenditures that even a fractional reduction in losses paid (and associated
expenses) can have a material impact on the bottom line.
Digital advances and powerful new computing technology will help carriers redefine claims
turnarounds and accuracy. The winners will embrace this change, shifting traditional claims
operating models to tech-infused activities. In this paper, we explore potential end states
for the insurance claims function and prioritize areas of opportunity, including a shift in
customer experience, the supply chain, operations and personnel structure.
4 / Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers
Changing end states for the claims organisation
Socioeconomic and regulatory changes are beginning to impact the Australian insurance market—
especially around customer demographics,the penetration of emerging technologies, recent ASIC and Royal
commission regulations, skills shortages, and the entry of insurtechs.These intersecting vectors are redefining
propositions for the claims organisation in line with customer expectations, risk/exposures, operations,
workforce and competition.
As insurers respond to new market positions, alternative future states lie ahead for the claims organisation.
Each of the end states in Figure 1, which we explore in detail below, is purposefully extreme — but they are not
mutually exclusive.
Traditional claims will demand faster and seamless processing
Claims settled in three minutes, a precedent set by Lemonade
1
, will become a table-stakes capability for the
claims organisation of the future. This will be driven by the rise of millennials, whose experiences are shaped
by Amazon, Netflix and the like.
2
Predicted volatility in Australian natural-hazard claims due to gradual climate
changes is another driver, as the volume and severity of traditional claims is bound to increase.
Finally, product models within traditional insurance are moving to newer forms: on-demand, parametric and
episodic. On-demand insurance for home contents and new mobility vehicles by Trov Australia
3
is just one
example. With the atomization of risks, claims and risk management processes must align by growing more
agile and seamless. The claims organisation of the future will need the ability to quickly scale and respond to
these and other scenarios.
A
END STATE
Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers / 5
Future end states for Australian insurance claims organisations
Figure 1
Changing claim expectations
Newer interfaces of engagement
Prevent vs Protect expectations
New risks (battery failure, electrical fires etc.)
Complex supply chain – repairs, spare parts
New commercial risks – cyber, data breaches
Higher repair costs, salvage value
Complexity in liability determination
Reduction in asset ownership & traditional losses
Newer forms of claims intake/FNOL
New risks with evolving housing structures & design
Broader risk ecosystem with renting/sharing
Higher exposures
Volatile & unpredictable catastrophe cycles
Standardized & defined causes of loss
Lower claims-handling expenses
Reduction of traditional loss & newer risks
Shift from personal to commercial liability risks
Reduction in asset ownership & traditional losses
More contextual loss data
Value chain enabler solutions – cheaper & effective
Data aggregators to enable claims processing
Economies of scale with automation
Advanced claims decision-making tools at disposal
Expanding supply chain network partners
New-age risk management & wellness services
New-age assistance services (roadside, home)
Rise of millennial & 
Gen Z population
Rapid rise of 
electric vehicles
Establishment of
semi-autonomous and
autonomous vehicles
Growth of collaborative/
sharing economy
Gradual shift in housing

form  design
Volatility of 
climatic
patterns
Changing insurance
product models 
(on
demand, parametric,
episodic)
Growth of IoT 
(individual  industrial)
Rise of insurtechs 

data aggregators
Emerging “exponential”
technologies
New-age 
supply chain
End State A
Traditional claims will demand
faster and seamless claim
processing
How might we establish a customer-
centric and agile claims process to
handle traditional risks  losses?
End State B
A larger percentage of claims
volume will be from newer risks
How might we establish claims
processes and business rules to handle
new, little-known and complex risks?
End State C
‘Uberization’ of claim processes
opens up an in-house vs partnered
approach to claims operations
How might we build cost-effective
and efficient process models with the
optimal mix of partners/insurtechs and
in-house personnel?
End State D
Claims organisation will be
challenged on risk management
propositions
As manufacturers and incumbents
bundle risk management services, how
might we differentiate through newer
propositions?
End State E
Humans and machines work more
together to adjudicate claims
With larger contextual data and
computing power at disposal, how might
we enable efficiencies and economies of
scale in the claims operations?
Key market trend What ifs for the 
claims organisation Potential end statesfor
claims in the future
6 / Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers
A larger percentage of claims volume will be from newer digital risks
Over the next five to ten years, the scale of traditional general insurance risks will shrink significantly due to
the convergence of technological advances coupled with fundamental changes in asset ownership among
consumers. For example, mobility in Australia is moving toward electric, autonomous, shared and connected.
Private electric sales are projected to rise from 4.6% of all new-car sales in 2025 to 18% by 2030,
4
and more
vehicles will feature electronic driver-assistance technology that makes them partially autonomous — which
markedly shifts the risk picture.
Competition in the Australian vehicle-sharing (Uber, GoGet) and subscription industry is also heating up with
the recent entry of ventures like Carly and HelloCars.
Similarly, gradual shifts in the ownership, design and form of Australian homes will alter the home insurance
industry. Urbanization, growing home demand and changing economic preferences among millennials
will increase multi-unit dwelling and grow the renter’s economy. Home assistants (Alexa, Nest) and sensing
technologies (Beam) will attain greater penetration as consumers look to improve home safety and obtain
protection from common losses such as water damage.
These smarter auto and home ecosystems will diminish the frequency of traditional losses — but will
replace them with new, more complex loss scenarios. Examples include auto breakdowns caused by
overheated batteries, failed sensors and cyber-attacks. These risks also open up unique, complex newer
business scenarios related to liability determination, supply chain management, repair cost estimates and
unpredictable litigation outcomes.
“Uberization” of claim processes will open up an in-house vs. partnered approach
General insurance claims organisations have always had cumbersome processes. Claim handlers work
with multiple vendors across the functions of lodgement, estimation, restoration, payments, litigation and
recovery. It is evident from insurtech activity throughout Australia that these processes are a sweet spot for
improvement. WeGoLook, for example, expanded into Australia with the intention of making loss surveys
more efficient through flexible, on-demand staffing of adjustors. And Claim Central’s virtual-inspections-as-a-
service let insurers externalize inspections and assessments, saving time and cutting costs.
5
New insurtechs will continue to explore innovative ways to redefine the delivery of these services and
accelerate the claims cycle via rapid response services to incidents; orchestration of repair and restoration
efforts; digital payments; and specialized advisory services. These specialized providers will mature and will
be able to process claims much faster and less expensively than traditional insurance companies. With most
such specialists providing on-demand services, insurers will gain the ability to quickly scale up and down,
especially when catastrophes occur.
END STATE
C
B
END STATE
Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers  / 7
Claims organisations will be challenged on their risk
management propositions
Insurers are differentiating today by reimaging the claims journey with greater focus
on claims prevention, rather than mere claims management. The Internet of Things
(IoT), artificial intelligence (AI), third-party data and smart infrastructure are all opening
new pathways in loss prevention, with sensor data providing early indication of a loss.
Many insurers have already embarked on a journey away from disaster recovery and toward mitigation, and
this trend will continue. Approaches such as loss prevention advisory programs for drivers and homeowners,
coupled with damage mitigation activities, are present and growing in Australia.
The larger intersection of IoT and the sharing economy have the potential to reduce the volume and
workload of the claims organisation of the future. As devices become smarter, manufacturers will bundle
risk management services with their offerings. This will challenge the position of insurers’ risk management
propositions. Who holds the protection — the device manufacturer’s warranty business or the insurer? With
protection ingrained in the assets or seamlessly provided by manufacturers, the claims organisation will need
to rethink its status in the risk management ecosystem.
Insurers will, however, be uniquely positioned to orchestrate the risk ecosystem for clients by bringing
together end-to-end loss prevention services through strategic partnerships. For example, when a water leak
occurs, insurers can identify the damage early and orchestrate such services as plumbing and floor repair.
Humans and machines will work together to adjudicate a larger
volume of claims
The claims workforce will be driven by two major shifts: natural demographics and
the effect of big-data analytics, automation and AI. With fewer young people entering
the claims workforce, insurers will see a natural decline in the number of adjusters.
Add to this rapid advances in computing technology and the meteoric rise of new
digital data sources, which will result in a higher percentage of no-touch or low-touch claims. In Australia
a large number of data providers are entering the scene in areas including vehicle valuations (MotorWeb,
Redbook), property valuation (SumInsured, Geospace), aerial imagery (Nearmap, Arturo), and spatial data
(Navigate), along with industry databases such as IRS and FloodMap. In addition, drones and augmented
and virtual reality (AR/VR) tech enable remote access to dimensions of loss that were non-discoverable in
the past.
Additional, easily accessed, context-rich data offers traditional insurers an opportunity to automate rote and
routine claims processes, leaving adjustors to focus on complex claims. McKinsey  Co. estimates that by
2030 more than half of current claims activities could be replaced by automation.
6
Insurers must rethink the
roles of adjustors, using their skillsets for newer purposes. A different type of specialized claims adjuster is
taking shape — one who is skilled in using advanced claims technologies and is expert in data and AI.
D
END STATE
E
END STATE
8 / Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers
Key value gateways to next-gen claims
As these end states take shape, the world of claims will be different for customers, claims personnel and
network providers. Australian insurers have traditionally faced a dilemma between maximising customer
experience or claims, which has compelled them to make a trade-off between the two. Carriers that focused
on customer experience typically incurred higher expenses, while those focusing on claims saved money but
were more likely to see customer dissatisfaction.
Carriers have already moved the needle on their core claims platforms, modernizing them to simultaneously
enable better experience and operational efficiencies. As Figure 2 illustrates, tomorrow’s winners will be the
insurers that quickly overlay their modernized claims platform with digital propositions that concurrently
deliver greater outcomes of experience, effectiveness and efficiencies.
Moving toward next-gen claims for greater business outcomes
Figure 2
Experience-led claims
Delivering advanced claims experience across
journeys through self-service capabilities,
digital interfaces and value-added services
like risk prevention
Next-gen claims
The new generation of claims management:
transforming experience and processes,
powered by digital technologies, AI solutions,
and supply chain ecosystems/platforms
Lean claims
Claims process optimisation with modernized
claims system and platform-led process
simplification and automation
Process excellence claims
Improve process effectiveness through
improved decision-making tools, process
automation and data-driven analytical solutions
Claims
experience
Process efficiencies and effectiveness
Customer
retention
Claims
NPS
Claims turnaround time
Loss adjustment expenses
Vendor costs
Claims payouts
Fraud %
Claims recovery rate
Litigation costs
KEY
METRICS
Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers / 9
Tomorrow’s winners will be the insurers that quickly overlay
their modernized claims platform with digital propositions
that concurrently deliver greater outcomes of experience,
effectiveness and efficiencies.
10 / Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers
Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers  / 11
Reaching the claims North Star requires broader thinking and change across all layers of the claims
landscape: experience, supply chain, process/operations, and people. Figure 3 depicts the five key gateways
along these business dimensions and the bold moves that insurers need to undertake.
Five key value gateways to next-gen claims
Figure 3
Claims journey  experience
Supply chain  partner workflow management
Claims staff/personnel
Claims system
Cloud hosting
Third-party data
(industry databases, aggregators, spatial/aerial imagery)
Digital UI/
UX/chatbots
Customer
mobility
solutions
Cognitive
contact center
Prevention
as a service
(IoT driven)
Collaboration tools
for adjustors
Remote
adjudication tools
Digital solutions
(AR/VR, drones)
NLP
(Voice, image,
document
processing)
Machine learning  analytics
(fraud detection, reserve,
reinsurance, litigation propensity,
payouts, audit, etc.)
Geospatial
intelligence
Blockchain/smart contract-
based claims solutions
Digital claims automation
(RPA/IPA/OCR)
Next-gen claims experience
transformation
From digital enablement to customer
journey  experience transformation
Claims process intelligence
From analytical solution to machine
learning  unstructured data-driven
decision-making
Supply chain ecosystem
orchestration
From supply chain partnerships to
ecosystem orchestration of loss
prevention services  claims
indemnification services
Claims process industrialization
From process automation to process
industrialization enabled through
emerging tech  insurtech solutions
across the value chain
New-age claims operating model
From large teams of adjustors, assessors
 others to optimal mix of data experts,
digital natives  industry experts
To succeed today and tomorrow,
they must view the claims journey
end-to-end.
12 / Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers
Next-gen claims experience
Many leading Australian insurers have deployed claim self-servicing capabilities through mobile apps and
portals. Because different departments own various pieces of the customer journey, insurers have not treated
customer journeys holistically. To succeed today and tomorrow, they must view the claims journey end-to-end.
Additionally, new personas are taking shape with the entry of millennials — auto claimants, home claimants,
in-house risk managers, injured workers, to name a few. Insurers need to understand the pains and gains
in these personas along the end-to-end claims journey and should build holistic capabilities that deliver
experience goals pertinent to each persona. Key differentiating experience principles across the claims
journey include the following:
	
❙ Transparency. Be transparent in terms of information, time required, and other aspects of the
claims process.
	
❙ Proactivity. Anticipate communication requirements and touchpoints (such as early notifications
on repair delays, proactive assignment of repair/restoration providers, and extensions of services
such as rental cars).
	
❙ Simplicity. Ensure simplified information dissemination, and deliver that information at the
proper moment.
	
❙ Speed. Ensure the shortest possible time from entry to completion.
	
❙ Personalization. Enable a flexible experience with a high degree of individualization.
	
❙ Omni-channel. Enable seamless movement of the customer journey across channels of choice.
	
❙ Humane. Acknowledge the physiographic side of the experience.
Figure 4 depicts key goals and capabilities across the claims value chain, and illustrates personas of an auto/
home claimant and an injured-worker claimant.
Customer value propositions along the claims value chain
Key
customer
jobs
Prevent Lodge Allocate Manage Track Settle
Key
experience
goals
Know the risks
and prevent
Properly document
evidence, decide
whether to file; get
claim reported as
quickly as possible
Understand the
indemnification
process  actors
involved
Liaise with insurer
on the facts,
get consensus
on liability 
estimates
Minimise
disruption in day-
to-day life, track
progress of repair
 payment
Receive payment
or repaired/
restored asset and
feel indemnified
Personal
auto

home
–
key
gain
creators
and
pain
relievers
	
❙ Real-time alerts 
notifications
	
❙ Catastrophe alerts
	
❙ Proactive loss
prevention 
repair services
	
❙ Lodge claims
online/mobile
	
❙ Claim lodgement
assistance
	
❙ Capture photos/
videos of incident/
damage
	
❙ Overlay of photo
with notes
	
❙ Record a voice
note/audio witness
	
❙ Location
communicator
	
❙ Scan license plate
 product manuals
for claims prefill
	
❙ Chatbot-driven
claims lodgement
through
responsive
questions
	
❙ Voice assistance-
based claims
lodgement
	
❙ View provider
details
	
❙ Receive post-
accident guidance
 offers (hire cars,
tow trucks)
	
❙ Search and
choose alternate
partner repairer or
nominate different
repairer
	
❙ Receive property
repair offers
	
❙ Pay excess online
	
❙ Access repair cost
database
	
❙ Damage
estimation tool
	
❙ Video adjudication
with adjustors
	
❙ Geo-tags to assess
prior condition of
property
	
❙ Video-conference
with specialists
	
❙ Online/mobile
tracking of
claim status
and milestone
progress
	
❙ Authorised/non-
authorised repairs,
replacements
authorised, store
card issued, quote
received, offers
	
❙ Status of repairs
and next steps
	
❙ Notifications of
delays/change
dates
	
❙ Push notifications
to customers,
brokers, partners
	
❙ Voice assistance-
driven claims
status tracking
	
❙ Auto settlement
based on claims
type, coverable
	
❙ Automated
settlement method
– cash, cheque,
store card, EFT
Personal
injury/
injured
worker
–
key
gain
creators
and
pain
relievers
	
❙ Real-time alerts
and notifications
on wellness
	
❙ Lodge claims
online/mobile
	
❙ View partner
hospitals
	
❙ View the provider
details
	
❙ Know the entire
RTW lifecycle –
who’s involved and
relevant dates
	
❙ Receive
announcements,
notifications,
health guidance
and wellness tips
	
❙ Interactive/
enhanced
communication
with doctors,
insurer and other
stakeholders
	
❙ Manage the claims
payments involved
and track status
	
❙ Tools to
calculate weekly
compensations
	
❙ View job
modification,
alternate
employment, self
employment FAQs
	
❙ Assist in alternate
employment –
resume upload on
job sites; interview
status updates;
calendar, venue,
job details
	
❙ Gamifications
	
❙ Receive settlement
– lump sum and
weekly wages
	
❙ Benefit explanation
Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers  / 13
Figure 4
14 / Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers
Supply chain ecosystem orchestration
A large portion of loss adjustment expense is spent managing supply chain partners. These partners include
outsourced call center support, legal solicitors, collision vendors, glass repairers, salvage providers, restoration
services and emergency services. Insurers need to maximize the value they receive from their supply chain
by centralizing management of lead time, customer satisfaction, indemnity performance commitments,
workload allocation and costs incurred across vendors.
A gradual shift in the ecosystem is also occurring as manufacturers and ecosystem players look to bundle risk
management into their offerings. Australian insurers must rethink their role and look to create new sources of
value. Their goal should be to be the key player and influencer in this ecosystem. By positioning themselves as
orchestrators, carriers can acquire data from the ecosystem, use it to deepen risk insights, and then facilitate
downstream services with partners.
To ensure efficient supply chain orchestration across indemnification and risk management services, carriers
need to digitally integrate with different players, seamlessly connecting communication and workflow across
the ecosystem. Cloud-based data platforms and cognitive solutions form the core of the orchestration
layer. They continuously monitor risks, detect potential losses early, and trigger best-fit reactive or proactive
services. Examples include:
	
❙ If a water leak has occurred due to excessive rains and damage has been caused to carpets, the roof and
appliances, insurers can detect it with the help of IoT sensors and can trigger the services of roof repairer,
carpet cleaners and others to minimize damage.
	
❙ If the water sensor on pipes detects wear and tear, insurers can assign home security services or
contractors for repairs.
	
❙ In the case of injured workers, insurers can automatically enable telemedicine consultations with doctors,
chiropractors and physical therapists as need arises.
Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers / 15
Insurers need to maximize the
value they receive from their
supply chain by centralizing
management of lead time,
customer satisfaction, indemnity
performance commitments,
workload allocation and costs
incurred across vendors.
16 / Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers
Figure 5 offers a representative view of supply chain orchestration, translating customer data to risk
management or loss indemnification services, enabling faster and effective turnaround of the claims
supply chain.
End-to-end ecosystem orchestration of supply chain to manage claims
indemnification and risk management services
Figure 5
Orchestration
layer
Supply
chain
Flexible integrations + monitoring data hub + tech hub (AI/cognitive, analytics, rules) + visualization
Home/Property Auto/Fleet Personal Injury
Data
ecosystem
Repair
services
Alerts/
notifications
How-to
videos
Safety tips/
recommendations
Maintenance
services
Smart utility
services
Performance
management
Compensation
management
Workload
management
Complementary
services
Customer analytics
information
Restoration
services
Salvage/recovery
services
Emergency
services
Warranty
services
Reviews
Progress communications
and transparency
Indemnification
services
Risk management
services
Supply chain
management
services
Plumbing
Roofing
Builder
Carpentry
Electrical
Flooring
Plastering
Painting
Locksmith
Insulation
Glazier
Manufacturers
Rental cars
Spare part shops
Towing shops
Repair shops
Acupuncture
Occupational therapy
Imaging services
Gyms  physiotherapy
Physiologists
Optometry
Chiropractors
Clinics
Private hospitals
Home assistants
Security
Cameras
Smart-home
appliances
Lighting
Motion sensors
Thermostats
Sensors
Alarms
Smart utility
Sharing economy providers
Telematics devices
Vehicle cameras
Vehicle sensors
Smart watch
Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers  / 17
Claims process industrialization
Middle- and back-office processes are traditionally complex and lengthy, with adjustors and assessors
carrying out numerous manual intensive tasks. The advent of digital technologies and AI, coupled with the
rise of insurtech solutions, provides carriers an opportunity to industrialize more claims end-to-end. Key
examples include:
	
❙ AI solutions that automate case assignment, straight-through processing of simplex claims, and
verification of invoices, estimates and payments.
	
❙ Blockchain- and smart contract-based processing and automation of claims.
	
❙ Digital solutions such as live collaboration tools enabling remote adjudication; drones for remote
assessment; and AR/VR for remote loss/accident simulations.
	
❙ Data aggregators such as repair/restoration/replacement valuations, industry databases and big-data
sources like online/social media, enabling data-driven functions like reserving, indemnification guidelines
and payout estimates.
The growth of insurtech solutions opens up the question of build vs. buy vs. partner when it comes to
adopting these technologies. Insurers should establish a data-consumption layer that blends in-house digital
solutions with off-the-shelf insurtech solutions.
In the new claims ecosystem, data from native sensors, cameras and telematics devices will provide
automated data access. Automated first notice of loss (FNOL) can follow up with enriched facts about
accidents. Moreover, with the right computing tools, insurers can further enable automated liability
determination, damage assessments and settlements for a large share of claims.
In the new claims ecosystem, data from native sensors,
cameras and telematics devices will provide automated data
access. Automated first notice of loss (FNOL) can follow up
with enriched facts about accidents.
Figure 6
18 / Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers
For example, during large-scale catastrophe claims, insurers can collate available information from satellite
data providers, weather providers and third-party data aggregators, triggering faster automated downstream
processing. Figure 6 illustrates.
Data and AI intersect to enable advanced process automation
along the claims value chain
Notification and
registration
Service provider
appointment
Claim assessment
(initial)
Claim processing 
finalisation Claim recovery
Data
intelligence
	
❙ Telematics data
	
❙ Big data (social, websites)
	
❙ Industry databases
(flood map, government
databases)
	
❙ Government sources
(cameras, speed monitors,
etc.)
	
❙ Social/online reviews
	
❙ Geospatial data
	
❙ Valuation and
replacement costs from
third-party data providers
	
❙ RTW guidelines by injury
	
❙ Up-to-date imagery,
historic content  AI
assisting remote loss
surveys (Nearmap)
	
❙ Industry databases (IRS)
	
❙ Spatial data (Navigate)
	
❙ Drones
	
❙ Up-to-date imagery,
historic content  AI
assisting remote loss
surveys
Intelligent
automation
Automated notification and
registration Automated appointment
of service provider based
on customer, accident and
exposure
Automated pre-verification Automated fraud detection
Automated total loss
disposal with providers
Automated inward of
cashless personal injury
claims
Automated claim
classification and
assignment
Automated litigation
propensity determination
and intelligent assignment
of high-probability ones
Automated tracking of
recovery process
Automated fast-track claims
identification
Automated claims priority
evaluation
Automated loss estimates
based on market valuations
Automated  real-time
claims audit
Automated/intelligent
adjuster assignment
Early recovery
determination
Automated bill capture, validation and processing of claims from designated providers
Automated specialty claims (extended warranty claims, coinsurance member claims, parametric claims)
Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers  / 19
Claims process intelligence
A fair share of claims will continue to require manual oversight as complex risk scenarios and long-tail claims
emerge. AI-based case management algorithms can help segment cases by complexity using factual and
predictive claims characteristics. Based on this segmentation, claims can be assigned to either automated
workflows or a claims handler. The ability to make correct, fast decisions at scale is crucial. Tools toward this
end include:
	
❙ Natural language processing technologies, enabling faster analysis, including medical record
summarization for injury claims (personal injury, Compulsory Third Party, workers compensation),
processing of damage images, and real-time invoice analysis.
	
❙ AI-laden dashboards to rapidly diagnose claim outcomes.
	
❙ Machine learning models that facilitate decision by detecting fraud patterns, running complex claims
simulations, and analyzing recovery potential.
New-age claims operating model
As insurers radically reinvent the claims journey with the help of digital technologies, supply chain ecosystem,
process optimization and process intelligence, they must also realign the claims operating model. The claims
department must develop a “phygital” talent pyramid, blending human and cyber capabilities to grow the
business with a substantially lower cost curve. This involves newer roles for existing claim adjustors. Key
functional areas include:
	
❙ Data scientists, working on factoring experience into the machine learning models that power claims
processes (such as reserving, fraud detection, recovery potential detection and liability determination).
	
❙ Product owners on the digital solutions embedded in the claims value chain.
	
❙ Risk management experts, working with industry experts to monitor the risk ecosystem of insureds and
orchestrate loss prevention services.
	
❙ Complex claims handlers, handling legal and long-tail liability claims.
	
❙ User experience designers, working with customer feedback and designing gain creators or pain
relievers across the customer journey.
20 / Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers
Entering the new world of claims processing
The next-generation claims processing organisation will be filled with new possibilities.The key building
blocks of the next-generation claims processing organisation will intersect to deliver best-in-class or high-
performance claims.Turnaround time for most claims will be measured in seconds or minutes, not days or
weeks. Claims leakage will be minimized, and loss adjustment expenses will shrink. Claims organisations will be
the drivers of change in the industry. Human claims management will be limited to new and complex claims.
Claims processes across each line of business can be remade through these next-gen claims
capabilities. Figure 7, next page, offers a representative view of how auto insurance claims will be transformed
throughout the value chain.
Home claims processing also has potential for radical change. In a typical future scenario, contextual data
of damage is communicated to the insurer via home sensors and other smart devices. Conversational AI
is then used to enable first communications with the customer. The claim is automatically registered with
sufficient information on the losses. Pre- and post-damage images and historic content are analyzed through
machine learning engines to identify patterns, draw insights and feed into the process. Repair and restoration
estimates drawn from third-party data sources are used to establish the liability, determine claims estimates
and best-fit repair providers.
Similarly, personal injury and workers compensation processing can and will be transformed. The provider
sends medical records and bills to the insurer. An AI system receives these records, sorts and classifies
them, and then extracts required information and generates actionable insights. The engine conducts an
automated application of evidence-based guidelines to baseline a treatment plan and arrive at medical
necessity and Return-to-Work (RTW) plans. The injured worker is enabled with mobile capabilities through
which the insurer enables continuous engagement. Telemedicine capabilities allow the insurer to remotely
coordinate with the injured worker and physician on the injury management, treatment and RTW plans.
Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers  / 21
End-to-end ecosystem orchestration of supply chain to manage claims
indemnification and risk management services
Figure 7
Claimant
Insured
Supply
chain
Concierge services – proactive
update to customer on next steps,
repair delays, payments, etc.
Concierge
services –
present options
Smart loss
capture
(photos, video)
Car meets
accident
Proactive
and
contextual
alerts
through
journey
Automated
video call and
advice on
steps to take
Automated
FNOL with native
sensor data
Intelligent claim
assignment in
complex cases
Taxi arrives at
location and
updates status
Tow vehicle arrives,
tows vehicle to
assigned repair
provider
Designated rental
car is sent out
Booking auto
extended based
on repair status
Intelligent claim
dashboard for
decision
assistance
Car repaired at
garage and dispatched
to customer
Next-gen claims
experience
Supply chain ecosystem
orchestration
Claims process
industrialization
Claims process
intelligence
Next-gen
operating model
Finalization and
automated
payments to
parties involved
Automated
notification to
recovery
vendors (salvage,
subrogation)
Auto approval
and intelligent
management of
repair estimates
Collation of
contextual loss data
at back end (GPS,
camera, satellite
imagery, etc.)
Best-fit service
provider
determination,
automated
assignment and
notification
Image detection,
third-party data,
automated reserve/
estimate-setting,
liability determination,
fraud detection
and recovery
determination
Avoidance Lodgement
Claim segmentation/
assignment
Claim
adjudication
Claim quality 
cost containment
Indemnification
 closure
22 / Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers
Quick Take
Helping Insurers on Their
Digital Claims Journey
Worldwide
Here are a few examples of claims modernization work Cognizant has undertaken with top
insurers in the Asia-Pacific region:
	
❙ A leading Australia-based insurer has embarked on a transformative journey to rejigger
its claims operating model by enabling digital solutions built on the foundation of a
modern claims system. The company envisions an ecosystem of solutions around the
claims system, enabling lower cost and greater process efficiencies. As a partner, we have
enabled integrations of the claims system with third-party software such as surveyor
solutions, rental car provider systems, and a repair management solution — coupled
with front-end systems and process enhancements. With process standardisation
and enhanced automation, the client realized a daily effort reduction of eight full-time
equivalents (FTEs).
	
❙ Another leading Australia-based company, which was still relying on basic business
rules for fraud detection and prevention, felt the need to improve in these areas. We
collaborated with the insurer’s claims business unit to configure a proprietary AI-based
claims fraud detection solution that helped identify potential losses early and thereby
reduced claims leakage. The client was able to identify potential losses to the scale of $3.5
million by catching suspected fraud before it undermined the company.
	
❙ A large India-based insurer wanted to differentiate in the market with faster claims
settlement and thereby claims experience. We partnered with the company’s claims
stakeholders to define a process automation strategy across its personal and commercial
lines of business, implementing eight bots across 40 processes. The company envisions
an eventual FTE capacity savings of more than 10,000 hours.
Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers / 23
	
❙ The Singapore-based innovation lab of MetLife, with business stakeholder support,
sought to address unmet customer need through product innovation and enhanced
process efficiency, all while protecting customer privacy. We built a blockchain-
based platform to launch a parametric insurance product for gestational diabetics for
customers in Singapore. The solution helped the insurer differentiate by allowing claims
to be filed and paid via customers’ mobile phones.
Insurers throughout the US and Europe are also building best-in-class claims capabilities
to generate greater business outcomes and market positions. We have partnered with
companies in those regions in the following ways:
	
❙ We worked with a leading North America-based insurtech to establish a zero-based
design of a greenfield operating model. Deployed within 18 months, this new way of
working enabled more than 1200 claims to be settled across a variety of sectors (physical
damage, bodily injury, collision, roadside and uninsured/underinsured motorists) within
one year of operation.
	
❙ We engaged with a leading Midwest US-based insurer to visualize a human-centric
and foresight research-based claims experience concept, including innovative services
such as Alexa-powered services, image-oriented loss capture and customer concierge
services. Benefits included improved customer experience, reduced call center calls and
reduced turnaround time.
	
❙ We envisioned and implemented a connected building solution for a leading Europe-
based insurer that focused on early property loss detection, data-driven underwriting
and value-add services aimed at asset failure prevention and maintenance quality
assessment.
24 / Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers
Looking ahead
The next wave of digital change will bring the claims organisation to a crossroads faster than previously
thought possible. Australia’s general insurers need to raise the bar to a completely new level in coming
years, a bar set atop their already modernized claims systems. They must think across various dimensions:
experience, supply chain partners, process and people. Companies that get it right will see greater business
outcomes across customer retention, brand, cost efficiencies and profitability.
To ensure competitiveness, insurers should look to:
	
❙ Lead with the customer by fine-tuning their user personas and understanding the claims journey
	
❙ Identify gain creators and pain relievers across the journey aspects and define customer value
propositions
	
❙ Align these value propositions to their future vision in terms of business models and products
	
❙ Define user journeys of the claims workforce and processing teams across the value chain, managing
claimants and supply chain partners, identifying improvement opportunities, and defining value
propositions
	
❙ Unearth downstream claims process improvements and automation opportunities aligned to the value
propositions of both customers and internal teams
	
❙ Understand data and analytics needs in delivering the value propositions of the customer and internal
claims staff, identify available third-party data sources, and define opportunities
	
❙ Understand off-the-shelf solutions and identify potential partners — both independent solution providers
and insurtechs
	
❙ Define short- and long-range goals for the claims organisation across the operating model; bundle
targeted initiatives aligned with strategic goals; and develop a robust business case
The case for change is real for insurers. Those that leapfrog the competition by investing in digital
propositions across experience, supply chain partners, process and people will stand apart from the
competition.
Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers / 25
26 / Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers
Endnotes
1	 “Lemonade Sets New World Record,” prnewswire.com, 2017,
www.prnewswire.com/news-releases/lemonade-sets-new-world-record-300386198.html.
2	 “Australian Insurance 2019: Data, reputation and loyalty in the digital age,” DXC technology, 2019,
https://assets1.dxc.technology/au/downloads/DXC_Insurance_Study_2019.pdf.
3	 “Insurtech Trov partners with Suncorp to launch digital auto and new mobility cover in Australia,” nsinsurance.com, 2019,
www.nsinsurance.com/news/insurtech-trov-suncorp-insurance/.
4	 “Electric vehicles to be 35% of global new car sales by 2040,” bnef.com, 2016,
https://about.bnef.com/blog/electric-vehicles-to-be-35-of-global-new-car-sales-by-2040/.
5	 “Claim Central Consolidated recognized for digital innovation,” Insurance Business Australia, 2020,
www.insurancebusinessmag.com/au/news/breaking-news/claim-central-consolidated-recognised-for-digital-
innovation-235855.aspx.
6	 “Jobs lost, jobs gained: What the future of work will mean for jobs, skills, and wages,” McKinsey  Co., 2017,
www.mckinsey.com/featured-insights/future-of-work/jobs-lost-jobs-gained-what-the-future-of-work-will-mean-for-jobs-
skills-and-wages.
Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers / 27
About the authors
Pankesh Upadhyay
Head of Insurance, ANZ Insurance, Cognizant
Pankesh Upadhyay is a Client Partner and Assistant Vice President within
Cognizant Australia. He leads Cognizant Insurance business in Australia
and New Zealand. He has 22-plus years of experience, primarily working
with insurance customers across consulting and IT services. Pankesh has
managed multiple strategic customers and IT programs for large insurance
companies across Australia and India. He has broad experience in assisting
insurance companies in solving business challenges, developing strategies and delivering business
outcomes. He successfully carried out MA and growth strategies for the Australian market. Pankesh
holds a bachelor’s degree in technology and the associate certification from Insurance Institute of India.
He can be reached at Pankesh.Upadhyay@cognizant.com | www.linkedin.com/in/pankeshupadhyay.
Vinodh Stanley Stephen
Market Lead, ANZ Insurance Consulting, Cognizant
Vinodh Stanley Stephen is a Senior Consulting Manager within Cognizant
Consulting, focused on the insurance industry. Vinodh has worked with
senior insurance executives across North America, Australia, ASEAN, India
and Europe. His consulting experience includes business transformation
advisory, innovation advisory, customer experience strategy, process
transformation, operating model redesign, platform modernization and
business case development. He has also conceptualized innovative solutions by leveraging technology
such as machine learning, IoT and blockchain, and has published many thought leadership papers in the
digital insurance space. Vinodh has a master’s degree in management from the Institute for Financial
Management and Research (IFMR). He also holds certifications from AICPCU and CII. Vinodh can be
reached at Vinodhstanley.Stephen@cognizant.com | www.linkedin.com/in/vinodh-stanley-stephen/.
World Headquarters
300 Frank W. Burr Blvd., Suite 600
Teaneck, NJ 07666 USA
Phone: +1 201 801 0233
Fax: +1 201 801 0243
Toll Free: +1 888 937 3277
European Headquarters
1 Kingdom Street
Paddington Central
London W2 6BD England
Phone: +44 (0) 20 7297 7600
Fax: +44 (0) 20 7121 0102
India Operations Headquarters
#5/535 Old Mahabalipuram Road
Okkiyam Pettai, Thoraipakkam
Chennai, 600 096 India
Phone: +91 (0) 44 4209 6000
Fax: +91 (0) 44 4209 6060
APAC Headquarters
1 Changi Business Park Crescent,
Plaza 8@CBP # 07-04/05/06,
Tower A, Singapore 486025
Phone: + 65 6812 4051
Fax: + 65 6324 4051
About ANZ Cognizant Insurance
Cognizant’s Insurance Practice, one of our largest industry verticals, partners with insurers to evolve their business and technology landscapes and enable
end-to-end digital transformation. We are engaged with all of the leading insurers in this region to help manage their technology portfolios, comprising their
life, annuities, and general insurance lines. From large-scale core system renovation to cutting-edge technologies like AI/ML, advanced analytics, blockchain
and automation, we partner with enterprises to envision and build the digital insurer of the future. Learn more by visiting www.cognizant.com/en-au.
About Cognizant
Cognizant (Nasdaq-100: CTSH) is one of the world’s leading professional services companies, transforming clients’ business, operating and technology
models for the digital era. Our unique industry-based, consultative approach helps clients envision, build and run more innovative and efficient businesses.
Headquartered in the U.S., Cognizant is ranked 185 on the Fortune 500 and is consistently listed among the most admired companies in the world. Learn
how Cognizant helps clients lead with digital at www.cognizant.com or follow us @Cognizant.
© Copyright 2021, Cognizant. All rights reserved. No part of this document may be reproduced, stored in a retrieval system, transmitted in any form or by any means, electronic, mechanical,
photocopying, recording, or otherwise, without the express written permission from Cognizant. The information contained herein is subject to change without notice. All other trademarks mentioned
herein are the property of their respective owners.
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Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers

  • 1. June 2021 Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers In recent years, insurers have invested in technology platforms and process improvements to improve claims outcomes. Leaders will build on this foundation across the claims landscape, spanning experience, operations, customer service and the overall supply chain with market-differentiating capabilities to achieve sustainable results.
  • 2. 2 / Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers Executive Summary Gradual macroeconomic shifts have reshaped the Australian insurance industry. The customer and employee mix is shifting dramatically. Australia’s millennial generation is expected to grow by 17%, from 7.2 million in 2016 to 8.3 million by 2026, according to the Australian Bureau of Statistics. These digital natives will increasingly expect seamless, omni-channel, real- time interactions and experience. At the same time, the region’s increasing climatic volatility and catastrophic patterns will pose tough challenges for insurers. Digital change, moreover, will continue to disrupt the traditional tenets of the insurance business.Just over the horizon, for example, are the rollout of electric cars by leading auto brands; the testing of autonomous vehicles by governments; the entry of connected-home providers like Beam and Nest; and wearables. Taken as a whole, these changes mean the insurance sector must come to terms with new risks, channels, customers and competition.
  • 3. Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers / 3 Claims and their associated expenses account for such a large percentage of carriers’ total expenditures that even a fractional reduction in losses paid (and associated expenses) can have a material impact on the bottom line. And with the rise of insurtechs and other new competitors, traditional Australian insurers must move quickly to innovate and differentiate, infusing digital propositions into their business models, operations and systems. Among core functions, the claims process area holds significant potential. In fact, it holds unparalleled opportunities not only to remake customer engagement but to improve efficiency and process excellence. Claims organisations occupy a pivotal crossroads where customer experience and business profitability meet. The COVID-19 pandemic has magnified major operational and profit challenges for the claims function and has accelerated the need to achieve greater profitability. Claims and their associated expenses account for such a large percentage of carriers’ total expenditures that even a fractional reduction in losses paid (and associated expenses) can have a material impact on the bottom line. Digital advances and powerful new computing technology will help carriers redefine claims turnarounds and accuracy. The winners will embrace this change, shifting traditional claims operating models to tech-infused activities. In this paper, we explore potential end states for the insurance claims function and prioritize areas of opportunity, including a shift in customer experience, the supply chain, operations and personnel structure.
  • 4. 4 / Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers Changing end states for the claims organisation Socioeconomic and regulatory changes are beginning to impact the Australian insurance market— especially around customer demographics,the penetration of emerging technologies, recent ASIC and Royal commission regulations, skills shortages, and the entry of insurtechs.These intersecting vectors are redefining propositions for the claims organisation in line with customer expectations, risk/exposures, operations, workforce and competition. As insurers respond to new market positions, alternative future states lie ahead for the claims organisation. Each of the end states in Figure 1, which we explore in detail below, is purposefully extreme — but they are not mutually exclusive. Traditional claims will demand faster and seamless processing Claims settled in three minutes, a precedent set by Lemonade 1 , will become a table-stakes capability for the claims organisation of the future. This will be driven by the rise of millennials, whose experiences are shaped by Amazon, Netflix and the like. 2 Predicted volatility in Australian natural-hazard claims due to gradual climate changes is another driver, as the volume and severity of traditional claims is bound to increase. Finally, product models within traditional insurance are moving to newer forms: on-demand, parametric and episodic. On-demand insurance for home contents and new mobility vehicles by Trov Australia 3 is just one example. With the atomization of risks, claims and risk management processes must align by growing more agile and seamless. The claims organisation of the future will need the ability to quickly scale and respond to these and other scenarios. A END STATE
  • 5. Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers / 5 Future end states for Australian insurance claims organisations Figure 1 Changing claim expectations Newer interfaces of engagement Prevent vs Protect expectations New risks (battery failure, electrical fires etc.) Complex supply chain – repairs, spare parts New commercial risks – cyber, data breaches Higher repair costs, salvage value Complexity in liability determination Reduction in asset ownership & traditional losses Newer forms of claims intake/FNOL New risks with evolving housing structures & design Broader risk ecosystem with renting/sharing Higher exposures Volatile & unpredictable catastrophe cycles Standardized & defined causes of loss Lower claims-handling expenses Reduction of traditional loss & newer risks Shift from personal to commercial liability risks Reduction in asset ownership & traditional losses More contextual loss data Value chain enabler solutions – cheaper & effective Data aggregators to enable claims processing Economies of scale with automation Advanced claims decision-making tools at disposal Expanding supply chain network partners New-age risk management & wellness services New-age assistance services (roadside, home) Rise of millennial & Gen Z population Rapid rise of electric vehicles Establishment of semi-autonomous and autonomous vehicles Growth of collaborative/ sharing economy Gradual shift in housing form design Volatility of climatic patterns Changing insurance product models (on demand, parametric, episodic) Growth of IoT (individual industrial) Rise of insurtechs data aggregators Emerging “exponential” technologies New-age supply chain End State A Traditional claims will demand faster and seamless claim processing How might we establish a customer- centric and agile claims process to handle traditional risks losses? End State B A larger percentage of claims volume will be from newer risks How might we establish claims processes and business rules to handle new, little-known and complex risks? End State C ‘Uberization’ of claim processes opens up an in-house vs partnered approach to claims operations How might we build cost-effective and efficient process models with the optimal mix of partners/insurtechs and in-house personnel? End State D Claims organisation will be challenged on risk management propositions As manufacturers and incumbents bundle risk management services, how might we differentiate through newer propositions? End State E Humans and machines work more together to adjudicate claims With larger contextual data and computing power at disposal, how might we enable efficiencies and economies of scale in the claims operations? Key market trend What ifs for the claims organisation Potential end statesfor claims in the future
  • 6. 6 / Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers A larger percentage of claims volume will be from newer digital risks Over the next five to ten years, the scale of traditional general insurance risks will shrink significantly due to the convergence of technological advances coupled with fundamental changes in asset ownership among consumers. For example, mobility in Australia is moving toward electric, autonomous, shared and connected. Private electric sales are projected to rise from 4.6% of all new-car sales in 2025 to 18% by 2030, 4 and more vehicles will feature electronic driver-assistance technology that makes them partially autonomous — which markedly shifts the risk picture. Competition in the Australian vehicle-sharing (Uber, GoGet) and subscription industry is also heating up with the recent entry of ventures like Carly and HelloCars. Similarly, gradual shifts in the ownership, design and form of Australian homes will alter the home insurance industry. Urbanization, growing home demand and changing economic preferences among millennials will increase multi-unit dwelling and grow the renter’s economy. Home assistants (Alexa, Nest) and sensing technologies (Beam) will attain greater penetration as consumers look to improve home safety and obtain protection from common losses such as water damage. These smarter auto and home ecosystems will diminish the frequency of traditional losses — but will replace them with new, more complex loss scenarios. Examples include auto breakdowns caused by overheated batteries, failed sensors and cyber-attacks. These risks also open up unique, complex newer business scenarios related to liability determination, supply chain management, repair cost estimates and unpredictable litigation outcomes. “Uberization” of claim processes will open up an in-house vs. partnered approach General insurance claims organisations have always had cumbersome processes. Claim handlers work with multiple vendors across the functions of lodgement, estimation, restoration, payments, litigation and recovery. It is evident from insurtech activity throughout Australia that these processes are a sweet spot for improvement. WeGoLook, for example, expanded into Australia with the intention of making loss surveys more efficient through flexible, on-demand staffing of adjustors. And Claim Central’s virtual-inspections-as-a- service let insurers externalize inspections and assessments, saving time and cutting costs. 5 New insurtechs will continue to explore innovative ways to redefine the delivery of these services and accelerate the claims cycle via rapid response services to incidents; orchestration of repair and restoration efforts; digital payments; and specialized advisory services. These specialized providers will mature and will be able to process claims much faster and less expensively than traditional insurance companies. With most such specialists providing on-demand services, insurers will gain the ability to quickly scale up and down, especially when catastrophes occur. END STATE C B END STATE
  • 7. Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers  / 7 Claims organisations will be challenged on their risk management propositions Insurers are differentiating today by reimaging the claims journey with greater focus on claims prevention, rather than mere claims management. The Internet of Things (IoT), artificial intelligence (AI), third-party data and smart infrastructure are all opening new pathways in loss prevention, with sensor data providing early indication of a loss. Many insurers have already embarked on a journey away from disaster recovery and toward mitigation, and this trend will continue. Approaches such as loss prevention advisory programs for drivers and homeowners, coupled with damage mitigation activities, are present and growing in Australia. The larger intersection of IoT and the sharing economy have the potential to reduce the volume and workload of the claims organisation of the future. As devices become smarter, manufacturers will bundle risk management services with their offerings. This will challenge the position of insurers’ risk management propositions. Who holds the protection — the device manufacturer’s warranty business or the insurer? With protection ingrained in the assets or seamlessly provided by manufacturers, the claims organisation will need to rethink its status in the risk management ecosystem. Insurers will, however, be uniquely positioned to orchestrate the risk ecosystem for clients by bringing together end-to-end loss prevention services through strategic partnerships. For example, when a water leak occurs, insurers can identify the damage early and orchestrate such services as plumbing and floor repair. Humans and machines will work together to adjudicate a larger volume of claims The claims workforce will be driven by two major shifts: natural demographics and the effect of big-data analytics, automation and AI. With fewer young people entering the claims workforce, insurers will see a natural decline in the number of adjusters. Add to this rapid advances in computing technology and the meteoric rise of new digital data sources, which will result in a higher percentage of no-touch or low-touch claims. In Australia a large number of data providers are entering the scene in areas including vehicle valuations (MotorWeb, Redbook), property valuation (SumInsured, Geospace), aerial imagery (Nearmap, Arturo), and spatial data (Navigate), along with industry databases such as IRS and FloodMap. In addition, drones and augmented and virtual reality (AR/VR) tech enable remote access to dimensions of loss that were non-discoverable in the past. Additional, easily accessed, context-rich data offers traditional insurers an opportunity to automate rote and routine claims processes, leaving adjustors to focus on complex claims. McKinsey Co. estimates that by 2030 more than half of current claims activities could be replaced by automation. 6 Insurers must rethink the roles of adjustors, using their skillsets for newer purposes. A different type of specialized claims adjuster is taking shape — one who is skilled in using advanced claims technologies and is expert in data and AI. D END STATE E END STATE
  • 8. 8 / Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers Key value gateways to next-gen claims As these end states take shape, the world of claims will be different for customers, claims personnel and network providers. Australian insurers have traditionally faced a dilemma between maximising customer experience or claims, which has compelled them to make a trade-off between the two. Carriers that focused on customer experience typically incurred higher expenses, while those focusing on claims saved money but were more likely to see customer dissatisfaction. Carriers have already moved the needle on their core claims platforms, modernizing them to simultaneously enable better experience and operational efficiencies. As Figure 2 illustrates, tomorrow’s winners will be the insurers that quickly overlay their modernized claims platform with digital propositions that concurrently deliver greater outcomes of experience, effectiveness and efficiencies. Moving toward next-gen claims for greater business outcomes Figure 2 Experience-led claims Delivering advanced claims experience across journeys through self-service capabilities, digital interfaces and value-added services like risk prevention Next-gen claims The new generation of claims management: transforming experience and processes, powered by digital technologies, AI solutions, and supply chain ecosystems/platforms Lean claims Claims process optimisation with modernized claims system and platform-led process simplification and automation Process excellence claims Improve process effectiveness through improved decision-making tools, process automation and data-driven analytical solutions Claims experience Process efficiencies and effectiveness Customer retention Claims NPS Claims turnaround time Loss adjustment expenses Vendor costs Claims payouts Fraud % Claims recovery rate Litigation costs KEY METRICS
  • 9. Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers / 9 Tomorrow’s winners will be the insurers that quickly overlay their modernized claims platform with digital propositions that concurrently deliver greater outcomes of experience, effectiveness and efficiencies.
  • 10. 10 / Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers
  • 11. Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers  / 11 Reaching the claims North Star requires broader thinking and change across all layers of the claims landscape: experience, supply chain, process/operations, and people. Figure 3 depicts the five key gateways along these business dimensions and the bold moves that insurers need to undertake. Five key value gateways to next-gen claims Figure 3 Claims journey experience Supply chain partner workflow management Claims staff/personnel Claims system Cloud hosting Third-party data (industry databases, aggregators, spatial/aerial imagery) Digital UI/ UX/chatbots Customer mobility solutions Cognitive contact center Prevention as a service (IoT driven) Collaboration tools for adjustors Remote adjudication tools Digital solutions (AR/VR, drones) NLP (Voice, image, document processing) Machine learning analytics (fraud detection, reserve, reinsurance, litigation propensity, payouts, audit, etc.) Geospatial intelligence Blockchain/smart contract- based claims solutions Digital claims automation (RPA/IPA/OCR) Next-gen claims experience transformation From digital enablement to customer journey experience transformation Claims process intelligence From analytical solution to machine learning unstructured data-driven decision-making Supply chain ecosystem orchestration From supply chain partnerships to ecosystem orchestration of loss prevention services claims indemnification services Claims process industrialization From process automation to process industrialization enabled through emerging tech insurtech solutions across the value chain New-age claims operating model From large teams of adjustors, assessors others to optimal mix of data experts, digital natives industry experts
  • 12. To succeed today and tomorrow, they must view the claims journey end-to-end. 12 / Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers Next-gen claims experience Many leading Australian insurers have deployed claim self-servicing capabilities through mobile apps and portals. Because different departments own various pieces of the customer journey, insurers have not treated customer journeys holistically. To succeed today and tomorrow, they must view the claims journey end-to-end. Additionally, new personas are taking shape with the entry of millennials — auto claimants, home claimants, in-house risk managers, injured workers, to name a few. Insurers need to understand the pains and gains in these personas along the end-to-end claims journey and should build holistic capabilities that deliver experience goals pertinent to each persona. Key differentiating experience principles across the claims journey include the following: ❙ Transparency. Be transparent in terms of information, time required, and other aspects of the claims process. ❙ Proactivity. Anticipate communication requirements and touchpoints (such as early notifications on repair delays, proactive assignment of repair/restoration providers, and extensions of services such as rental cars). ❙ Simplicity. Ensure simplified information dissemination, and deliver that information at the proper moment. ❙ Speed. Ensure the shortest possible time from entry to completion. ❙ Personalization. Enable a flexible experience with a high degree of individualization. ❙ Omni-channel. Enable seamless movement of the customer journey across channels of choice. ❙ Humane. Acknowledge the physiographic side of the experience. Figure 4 depicts key goals and capabilities across the claims value chain, and illustrates personas of an auto/ home claimant and an injured-worker claimant.
  • 13. Customer value propositions along the claims value chain Key customer jobs Prevent Lodge Allocate Manage Track Settle Key experience goals Know the risks and prevent Properly document evidence, decide whether to file; get claim reported as quickly as possible Understand the indemnification process actors involved Liaise with insurer on the facts, get consensus on liability estimates Minimise disruption in day- to-day life, track progress of repair payment Receive payment or repaired/ restored asset and feel indemnified Personal auto home – key gain creators and pain relievers ❙ Real-time alerts notifications ❙ Catastrophe alerts ❙ Proactive loss prevention repair services ❙ Lodge claims online/mobile ❙ Claim lodgement assistance ❙ Capture photos/ videos of incident/ damage ❙ Overlay of photo with notes ❙ Record a voice note/audio witness ❙ Location communicator ❙ Scan license plate product manuals for claims prefill ❙ Chatbot-driven claims lodgement through responsive questions ❙ Voice assistance- based claims lodgement ❙ View provider details ❙ Receive post- accident guidance offers (hire cars, tow trucks) ❙ Search and choose alternate partner repairer or nominate different repairer ❙ Receive property repair offers ❙ Pay excess online ❙ Access repair cost database ❙ Damage estimation tool ❙ Video adjudication with adjustors ❙ Geo-tags to assess prior condition of property ❙ Video-conference with specialists ❙ Online/mobile tracking of claim status and milestone progress ❙ Authorised/non- authorised repairs, replacements authorised, store card issued, quote received, offers ❙ Status of repairs and next steps ❙ Notifications of delays/change dates ❙ Push notifications to customers, brokers, partners ❙ Voice assistance- driven claims status tracking ❙ Auto settlement based on claims type, coverable ❙ Automated settlement method – cash, cheque, store card, EFT Personal injury/ injured worker – key gain creators and pain relievers ❙ Real-time alerts and notifications on wellness ❙ Lodge claims online/mobile ❙ View partner hospitals ❙ View the provider details ❙ Know the entire RTW lifecycle – who’s involved and relevant dates ❙ Receive announcements, notifications, health guidance and wellness tips ❙ Interactive/ enhanced communication with doctors, insurer and other stakeholders ❙ Manage the claims payments involved and track status ❙ Tools to calculate weekly compensations ❙ View job modification, alternate employment, self employment FAQs ❙ Assist in alternate employment – resume upload on job sites; interview status updates; calendar, venue, job details ❙ Gamifications ❙ Receive settlement – lump sum and weekly wages ❙ Benefit explanation Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers  / 13 Figure 4
  • 14. 14 / Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers Supply chain ecosystem orchestration A large portion of loss adjustment expense is spent managing supply chain partners. These partners include outsourced call center support, legal solicitors, collision vendors, glass repairers, salvage providers, restoration services and emergency services. Insurers need to maximize the value they receive from their supply chain by centralizing management of lead time, customer satisfaction, indemnity performance commitments, workload allocation and costs incurred across vendors. A gradual shift in the ecosystem is also occurring as manufacturers and ecosystem players look to bundle risk management into their offerings. Australian insurers must rethink their role and look to create new sources of value. Their goal should be to be the key player and influencer in this ecosystem. By positioning themselves as orchestrators, carriers can acquire data from the ecosystem, use it to deepen risk insights, and then facilitate downstream services with partners. To ensure efficient supply chain orchestration across indemnification and risk management services, carriers need to digitally integrate with different players, seamlessly connecting communication and workflow across the ecosystem. Cloud-based data platforms and cognitive solutions form the core of the orchestration layer. They continuously monitor risks, detect potential losses early, and trigger best-fit reactive or proactive services. Examples include: ❙ If a water leak has occurred due to excessive rains and damage has been caused to carpets, the roof and appliances, insurers can detect it with the help of IoT sensors and can trigger the services of roof repairer, carpet cleaners and others to minimize damage. ❙ If the water sensor on pipes detects wear and tear, insurers can assign home security services or contractors for repairs. ❙ In the case of injured workers, insurers can automatically enable telemedicine consultations with doctors, chiropractors and physical therapists as need arises.
  • 15. Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers / 15 Insurers need to maximize the value they receive from their supply chain by centralizing management of lead time, customer satisfaction, indemnity performance commitments, workload allocation and costs incurred across vendors.
  • 16. 16 / Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers Figure 5 offers a representative view of supply chain orchestration, translating customer data to risk management or loss indemnification services, enabling faster and effective turnaround of the claims supply chain. End-to-end ecosystem orchestration of supply chain to manage claims indemnification and risk management services Figure 5 Orchestration layer Supply chain Flexible integrations + monitoring data hub + tech hub (AI/cognitive, analytics, rules) + visualization Home/Property Auto/Fleet Personal Injury Data ecosystem Repair services Alerts/ notifications How-to videos Safety tips/ recommendations Maintenance services Smart utility services Performance management Compensation management Workload management Complementary services Customer analytics information Restoration services Salvage/recovery services Emergency services Warranty services Reviews Progress communications and transparency Indemnification services Risk management services Supply chain management services Plumbing Roofing Builder Carpentry Electrical Flooring Plastering Painting Locksmith Insulation Glazier Manufacturers Rental cars Spare part shops Towing shops Repair shops Acupuncture Occupational therapy Imaging services Gyms physiotherapy Physiologists Optometry Chiropractors Clinics Private hospitals Home assistants Security Cameras Smart-home appliances Lighting Motion sensors Thermostats Sensors Alarms Smart utility Sharing economy providers Telematics devices Vehicle cameras Vehicle sensors Smart watch
  • 17. Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers  / 17 Claims process industrialization Middle- and back-office processes are traditionally complex and lengthy, with adjustors and assessors carrying out numerous manual intensive tasks. The advent of digital technologies and AI, coupled with the rise of insurtech solutions, provides carriers an opportunity to industrialize more claims end-to-end. Key examples include: ❙ AI solutions that automate case assignment, straight-through processing of simplex claims, and verification of invoices, estimates and payments. ❙ Blockchain- and smart contract-based processing and automation of claims. ❙ Digital solutions such as live collaboration tools enabling remote adjudication; drones for remote assessment; and AR/VR for remote loss/accident simulations. ❙ Data aggregators such as repair/restoration/replacement valuations, industry databases and big-data sources like online/social media, enabling data-driven functions like reserving, indemnification guidelines and payout estimates. The growth of insurtech solutions opens up the question of build vs. buy vs. partner when it comes to adopting these technologies. Insurers should establish a data-consumption layer that blends in-house digital solutions with off-the-shelf insurtech solutions. In the new claims ecosystem, data from native sensors, cameras and telematics devices will provide automated data access. Automated first notice of loss (FNOL) can follow up with enriched facts about accidents. Moreover, with the right computing tools, insurers can further enable automated liability determination, damage assessments and settlements for a large share of claims. In the new claims ecosystem, data from native sensors, cameras and telematics devices will provide automated data access. Automated first notice of loss (FNOL) can follow up with enriched facts about accidents.
  • 18. Figure 6 18 / Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers For example, during large-scale catastrophe claims, insurers can collate available information from satellite data providers, weather providers and third-party data aggregators, triggering faster automated downstream processing. Figure 6 illustrates. Data and AI intersect to enable advanced process automation along the claims value chain Notification and registration Service provider appointment Claim assessment (initial) Claim processing finalisation Claim recovery Data intelligence ❙ Telematics data ❙ Big data (social, websites) ❙ Industry databases (flood map, government databases) ❙ Government sources (cameras, speed monitors, etc.) ❙ Social/online reviews ❙ Geospatial data ❙ Valuation and replacement costs from third-party data providers ❙ RTW guidelines by injury ❙ Up-to-date imagery, historic content AI assisting remote loss surveys (Nearmap) ❙ Industry databases (IRS) ❙ Spatial data (Navigate) ❙ Drones ❙ Up-to-date imagery, historic content AI assisting remote loss surveys Intelligent automation Automated notification and registration Automated appointment of service provider based on customer, accident and exposure Automated pre-verification Automated fraud detection Automated total loss disposal with providers Automated inward of cashless personal injury claims Automated claim classification and assignment Automated litigation propensity determination and intelligent assignment of high-probability ones Automated tracking of recovery process Automated fast-track claims identification Automated claims priority evaluation Automated loss estimates based on market valuations Automated real-time claims audit Automated/intelligent adjuster assignment Early recovery determination Automated bill capture, validation and processing of claims from designated providers Automated specialty claims (extended warranty claims, coinsurance member claims, parametric claims)
  • 19. Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers  / 19 Claims process intelligence A fair share of claims will continue to require manual oversight as complex risk scenarios and long-tail claims emerge. AI-based case management algorithms can help segment cases by complexity using factual and predictive claims characteristics. Based on this segmentation, claims can be assigned to either automated workflows or a claims handler. The ability to make correct, fast decisions at scale is crucial. Tools toward this end include: ❙ Natural language processing technologies, enabling faster analysis, including medical record summarization for injury claims (personal injury, Compulsory Third Party, workers compensation), processing of damage images, and real-time invoice analysis. ❙ AI-laden dashboards to rapidly diagnose claim outcomes. ❙ Machine learning models that facilitate decision by detecting fraud patterns, running complex claims simulations, and analyzing recovery potential. New-age claims operating model As insurers radically reinvent the claims journey with the help of digital technologies, supply chain ecosystem, process optimization and process intelligence, they must also realign the claims operating model. The claims department must develop a “phygital” talent pyramid, blending human and cyber capabilities to grow the business with a substantially lower cost curve. This involves newer roles for existing claim adjustors. Key functional areas include: ❙ Data scientists, working on factoring experience into the machine learning models that power claims processes (such as reserving, fraud detection, recovery potential detection and liability determination). ❙ Product owners on the digital solutions embedded in the claims value chain. ❙ Risk management experts, working with industry experts to monitor the risk ecosystem of insureds and orchestrate loss prevention services. ❙ Complex claims handlers, handling legal and long-tail liability claims. ❙ User experience designers, working with customer feedback and designing gain creators or pain relievers across the customer journey.
  • 20. 20 / Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers Entering the new world of claims processing The next-generation claims processing organisation will be filled with new possibilities.The key building blocks of the next-generation claims processing organisation will intersect to deliver best-in-class or high- performance claims.Turnaround time for most claims will be measured in seconds or minutes, not days or weeks. Claims leakage will be minimized, and loss adjustment expenses will shrink. Claims organisations will be the drivers of change in the industry. Human claims management will be limited to new and complex claims. Claims processes across each line of business can be remade through these next-gen claims capabilities. Figure 7, next page, offers a representative view of how auto insurance claims will be transformed throughout the value chain. Home claims processing also has potential for radical change. In a typical future scenario, contextual data of damage is communicated to the insurer via home sensors and other smart devices. Conversational AI is then used to enable first communications with the customer. The claim is automatically registered with sufficient information on the losses. Pre- and post-damage images and historic content are analyzed through machine learning engines to identify patterns, draw insights and feed into the process. Repair and restoration estimates drawn from third-party data sources are used to establish the liability, determine claims estimates and best-fit repair providers. Similarly, personal injury and workers compensation processing can and will be transformed. The provider sends medical records and bills to the insurer. An AI system receives these records, sorts and classifies them, and then extracts required information and generates actionable insights. The engine conducts an automated application of evidence-based guidelines to baseline a treatment plan and arrive at medical necessity and Return-to-Work (RTW) plans. The injured worker is enabled with mobile capabilities through which the insurer enables continuous engagement. Telemedicine capabilities allow the insurer to remotely coordinate with the injured worker and physician on the injury management, treatment and RTW plans.
  • 21. Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers  / 21 End-to-end ecosystem orchestration of supply chain to manage claims indemnification and risk management services Figure 7 Claimant Insured Supply chain Concierge services – proactive update to customer on next steps, repair delays, payments, etc. Concierge services – present options Smart loss capture (photos, video) Car meets accident Proactive and contextual alerts through journey Automated video call and advice on steps to take Automated FNOL with native sensor data Intelligent claim assignment in complex cases Taxi arrives at location and updates status Tow vehicle arrives, tows vehicle to assigned repair provider Designated rental car is sent out Booking auto extended based on repair status Intelligent claim dashboard for decision assistance Car repaired at garage and dispatched to customer Next-gen claims experience Supply chain ecosystem orchestration Claims process industrialization Claims process intelligence Next-gen operating model Finalization and automated payments to parties involved Automated notification to recovery vendors (salvage, subrogation) Auto approval and intelligent management of repair estimates Collation of contextual loss data at back end (GPS, camera, satellite imagery, etc.) Best-fit service provider determination, automated assignment and notification Image detection, third-party data, automated reserve/ estimate-setting, liability determination, fraud detection and recovery determination Avoidance Lodgement Claim segmentation/ assignment Claim adjudication Claim quality cost containment Indemnification closure
  • 22. 22 / Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers Quick Take Helping Insurers on Their Digital Claims Journey Worldwide Here are a few examples of claims modernization work Cognizant has undertaken with top insurers in the Asia-Pacific region: ❙ A leading Australia-based insurer has embarked on a transformative journey to rejigger its claims operating model by enabling digital solutions built on the foundation of a modern claims system. The company envisions an ecosystem of solutions around the claims system, enabling lower cost and greater process efficiencies. As a partner, we have enabled integrations of the claims system with third-party software such as surveyor solutions, rental car provider systems, and a repair management solution — coupled with front-end systems and process enhancements. With process standardisation and enhanced automation, the client realized a daily effort reduction of eight full-time equivalents (FTEs). ❙ Another leading Australia-based company, which was still relying on basic business rules for fraud detection and prevention, felt the need to improve in these areas. We collaborated with the insurer’s claims business unit to configure a proprietary AI-based claims fraud detection solution that helped identify potential losses early and thereby reduced claims leakage. The client was able to identify potential losses to the scale of $3.5 million by catching suspected fraud before it undermined the company. ❙ A large India-based insurer wanted to differentiate in the market with faster claims settlement and thereby claims experience. We partnered with the company’s claims stakeholders to define a process automation strategy across its personal and commercial lines of business, implementing eight bots across 40 processes. The company envisions an eventual FTE capacity savings of more than 10,000 hours.
  • 23. Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers / 23 ❙ The Singapore-based innovation lab of MetLife, with business stakeholder support, sought to address unmet customer need through product innovation and enhanced process efficiency, all while protecting customer privacy. We built a blockchain- based platform to launch a parametric insurance product for gestational diabetics for customers in Singapore. The solution helped the insurer differentiate by allowing claims to be filed and paid via customers’ mobile phones. Insurers throughout the US and Europe are also building best-in-class claims capabilities to generate greater business outcomes and market positions. We have partnered with companies in those regions in the following ways: ❙ We worked with a leading North America-based insurtech to establish a zero-based design of a greenfield operating model. Deployed within 18 months, this new way of working enabled more than 1200 claims to be settled across a variety of sectors (physical damage, bodily injury, collision, roadside and uninsured/underinsured motorists) within one year of operation. ❙ We engaged with a leading Midwest US-based insurer to visualize a human-centric and foresight research-based claims experience concept, including innovative services such as Alexa-powered services, image-oriented loss capture and customer concierge services. Benefits included improved customer experience, reduced call center calls and reduced turnaround time. ❙ We envisioned and implemented a connected building solution for a leading Europe- based insurer that focused on early property loss detection, data-driven underwriting and value-add services aimed at asset failure prevention and maintenance quality assessment.
  • 24. 24 / Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers Looking ahead The next wave of digital change will bring the claims organisation to a crossroads faster than previously thought possible. Australia’s general insurers need to raise the bar to a completely new level in coming years, a bar set atop their already modernized claims systems. They must think across various dimensions: experience, supply chain partners, process and people. Companies that get it right will see greater business outcomes across customer retention, brand, cost efficiencies and profitability. To ensure competitiveness, insurers should look to: ❙ Lead with the customer by fine-tuning their user personas and understanding the claims journey ❙ Identify gain creators and pain relievers across the journey aspects and define customer value propositions ❙ Align these value propositions to their future vision in terms of business models and products ❙ Define user journeys of the claims workforce and processing teams across the value chain, managing claimants and supply chain partners, identifying improvement opportunities, and defining value propositions ❙ Unearth downstream claims process improvements and automation opportunities aligned to the value propositions of both customers and internal teams ❙ Understand data and analytics needs in delivering the value propositions of the customer and internal claims staff, identify available third-party data sources, and define opportunities ❙ Understand off-the-shelf solutions and identify potential partners — both independent solution providers and insurtechs ❙ Define short- and long-range goals for the claims organisation across the operating model; bundle targeted initiatives aligned with strategic goals; and develop a robust business case The case for change is real for insurers. Those that leapfrog the competition by investing in digital propositions across experience, supply chain partners, process and people will stand apart from the competition.
  • 25. Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers / 25
  • 26. 26 / Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers Endnotes 1 “Lemonade Sets New World Record,” prnewswire.com, 2017, www.prnewswire.com/news-releases/lemonade-sets-new-world-record-300386198.html. 2 “Australian Insurance 2019: Data, reputation and loyalty in the digital age,” DXC technology, 2019, https://assets1.dxc.technology/au/downloads/DXC_Insurance_Study_2019.pdf. 3 “Insurtech Trov partners with Suncorp to launch digital auto and new mobility cover in Australia,” nsinsurance.com, 2019, www.nsinsurance.com/news/insurtech-trov-suncorp-insurance/. 4 “Electric vehicles to be 35% of global new car sales by 2040,” bnef.com, 2016, https://about.bnef.com/blog/electric-vehicles-to-be-35-of-global-new-car-sales-by-2040/. 5 “Claim Central Consolidated recognized for digital innovation,” Insurance Business Australia, 2020, www.insurancebusinessmag.com/au/news/breaking-news/claim-central-consolidated-recognised-for-digital- innovation-235855.aspx. 6 “Jobs lost, jobs gained: What the future of work will mean for jobs, skills, and wages,” McKinsey Co., 2017, www.mckinsey.com/featured-insights/future-of-work/jobs-lost-jobs-gained-what-the-future-of-work-will-mean-for-jobs- skills-and-wages.
  • 27. Engineering the Next-Gen Digital Claims Organisation for Australian General Insurers / 27 About the authors Pankesh Upadhyay Head of Insurance, ANZ Insurance, Cognizant Pankesh Upadhyay is a Client Partner and Assistant Vice President within Cognizant Australia. He leads Cognizant Insurance business in Australia and New Zealand. He has 22-plus years of experience, primarily working with insurance customers across consulting and IT services. Pankesh has managed multiple strategic customers and IT programs for large insurance companies across Australia and India. He has broad experience in assisting insurance companies in solving business challenges, developing strategies and delivering business outcomes. He successfully carried out MA and growth strategies for the Australian market. Pankesh holds a bachelor’s degree in technology and the associate certification from Insurance Institute of India. He can be reached at Pankesh.Upadhyay@cognizant.com | www.linkedin.com/in/pankeshupadhyay. Vinodh Stanley Stephen Market Lead, ANZ Insurance Consulting, Cognizant Vinodh Stanley Stephen is a Senior Consulting Manager within Cognizant Consulting, focused on the insurance industry. Vinodh has worked with senior insurance executives across North America, Australia, ASEAN, India and Europe. His consulting experience includes business transformation advisory, innovation advisory, customer experience strategy, process transformation, operating model redesign, platform modernization and business case development. He has also conceptualized innovative solutions by leveraging technology such as machine learning, IoT and blockchain, and has published many thought leadership papers in the digital insurance space. Vinodh has a master’s degree in management from the Institute for Financial Management and Research (IFMR). He also holds certifications from AICPCU and CII. Vinodh can be reached at Vinodhstanley.Stephen@cognizant.com | www.linkedin.com/in/vinodh-stanley-stephen/.
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