Insurance giant AXA has introduced STeP, a new digital claims solution to help customers simplify their motor insurance process.
According to Coverager, AXA claimed that through STeP the time taken from customer notification to partners arranging repair or salvage is now down to minutes. The company noted that it is also looking at ways to use STeP to develop the digital journey across other business lines.
The new solution will also see AXA’s claims journey simplified, as it claims it will integrate AXA’s Guidewire Claims System with machine learning models and augmented decision tools that are built by AXA’s analytics team, alongside developing integrations and tools with key suppliers.
AXA claims this will ensure AXA policyholders are able to receive quick action for repair or fast and accurate settlement when their vehicle is written off.
AXA UK executive managing director of claims Waseem Malik said, “Customers increasingly want faster and more tailored engagement and STeP allows AXA to deliver against these changing customer expectations. We are offering our motor insurance customers greater choice in how they interact with us, with a fast, seamless journey at one of the key moments of truth in insurance – the claim.
“This is a significant step in our digital transformation journey and one we are incredibly proud of. Customer choice is at the heart of what AXA does, and I’m excited at the possibilities this technology also offers for customers across the wider business.”
Earlier this year, AXA suffered a cyberattack at the hands of the Avaddon ransomware group that saw it lose 3 terabytes (TB) of sensitive data from its Asian operations.
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