"We prioritize our service roles over insurance responsibilities."
The Liability Insurance Company is revolutionizing the property and casualty liability insurance sector by implementing a comprehensive strategy focused on customer service, data management, and digital transformation.
At the heart of this strategy is the adoption of artificial intelligence (AI) and intelligent automation. By leveraging AI across all operations, the company aims to enhance the customer experience by providing more control, clarity, and speed, particularly in complex claims processes and high-risk situations. This includes faster claims adjusting and greater transparency into claims settlements, which improves customer satisfaction.
Moving beyond planning to operational execution, the company is developing scalable policy administration platforms. This allows for a more flexible and responsive service model that adapts to evolving risks and customer expectations.
Digital customer engagement tools play a crucial role in this transformation. Chatbots and virtual voice assistants are being utilized to enable instant support and routine inquiry handling, reducing wait times and improving service availability around the clock. Customer portals allow policyholders to self-manage their policies, access documents, and track claims status online, thereby increasing empowerment and convenience.
Enhanced data management is another key focus area. Advanced Customer Relationship Management (CRM) systems are being integrated with automation to predict customer needs based on behavior and lifecycle events. These systems automate routine communications like follow-ups and reminders to nurture client relationships efficiently.
The company also places a strong emphasis on operational efficiency. Automation in both sales and claims facilitates more effective resource use, allowing staff to focus on complex problems and personalized client service rather than routine tasks.
These strategies collectively aim to provide a better, faster, and more transparent customer experience while enabling the company to handle increasingly complex risks and regulatory environments in 2025 and beyond.
In addition to these initiatives, the Liability Insurance Company is developing a customer portal in close cooperation with brokers. The long-term goal for this portal is to allow access to necessary data without using paper, according to CEO Stefan Liebig. The company values service highly, with Liebig stating that they are more of a service provider than an insurer.
Jonas Piela, Managing Director at Jonas Piela Digital Consultants and host of the Digital Insurance Podcast, advises the insurance industry on digital transformation. Piela aims to provide listeners with a relaxed, peer-to-peer conversation, inspiring ideas and insights for their own work. The Digital Insurance Podcast, which discusses challenges of digital transformation in the insurance sector, is available on platforms like Google, Apple, and Spotify, as well as under DKM365.
Despite these advancements, the company recognizes the need for further development steps in data exchange between insurers and brokers. Customers tend to reject the conclusion of a liability policy via a chatbot solution, requiring a targeted and gradual approach. Online offerings such as FAQs and software solutions are being tested, and each option is evaluated for its economic viability to avoid jumping on false hypes.
The situation is disadvantageous for brokers if their customers have to use different apps from different insurers. The Liability Insurance Company is implementing a customer portal to prevent customers from accessing outdated data from brokers. Intangible indicators such as customer expectations and convenience must be considered when deciding between bots and humans.
The Liability Insurance Company's approach reflects leading industry practices and trends driving customer service and digital transformation in the property and casualty liability insurance sector. No direct information was found about specific proprietary platforms or tools unique to the Liability Insurance Company, but their strategies and initiatives underscore a commitment to innovation and customer-centricity.
- In order to further enhance customer service, the Liability Insurance Company aims to integrate their customer portal with brokers, striving to eliminate paperwork and provide a seamless, digital experience.
- Recognizing that technology advancements in finance and business are driving change across the property and casualty liability insurance sector, the Liabulary Insurance Company is developing a gradual strategy for implementing chatbots and FAQs, while also considering the human touch to meet customer expectations and increase convenience.
