FinTech Belgium - Insurtech Belgium MeetUp on Claim Optimisation - Keynote - Jonathan Goderis - Keypoint - 23-05-19

1. InsurTech meetup
on claim
optimisation
Jonathan Goderis – Keypoint BVBA

2. • Validation
• Who is Jonathan Goderis?
• What are we talking about?
• Claims optimisation
• Why
• How
• What (where to start)
• Example
• Implementation & possible pitfalls
Table of contents
23/5 claims optimization meetup

3. Claims InsurTech validation
Frontrunners for collaboration

4. Jonathan Goderis
Who?
29 years old, married and have a 3-year old
daughter. From Oostduinkerke, West-Vlaanderen,
Belgium
Bachelors in tax, accountancy, finance and insurance + MBA in business
strategy from Cranfield University
Former sales director Benelux within Innovation
Group (multinational third party claim handler)
Co-founder of Keypoint BVBA which is a property claims solution
provider already working for some of the biggest insurers and brokers in
Belgium
Over 6 years of experience in TPA claim handling
over multiple countries within a public listed
company that has been acquired by Carlyle for 500,-
million pounds

5. Property cost
management
International Motor networks P&L co-responsible
Claims management related
projects. E.g. how to
implement end-to-end motor
claims management for the
broker market in France
Property claims project for a
tier1 insurer in Belgium to STP
property claims using
technology and pricing
databases
Closed framework
agreements with tier1
insurers in Belgium to set up
repair networks to manage
costs, improve CSI and cycle
times
Co-responsible for a TPA that
handles over 50.000 claims
and 500.000 insurance calls
per annum in Benelux with
around 6 million euro of
revenue
4 examples of realizations
Claim experience

6. What are we talking about?
On which of the basics can an impact be made?
• People (clients)
• Distribution channels
• Prevention
• Customer journey
• Cost & margins
• Backoffice end-to-end process
• Digital value proposition
• …

7. WHY

8. DisruptorsTechnology Margins Transformation
Customers are
embracing digital
channels and
technologies:
connected car, smart
homes, AI build
products,…
Incumbents are
noticing new players
on their market
Margins are under
pressure and brokers,
agents and insurers
need to optimize total
cost of ownership
(claim spend is an
important part)
P&C claims functions
must embark on a
customer-centric
transformation by
integrating digital
technologies
CUSTOMER JOURNEY AND COST MANAGEMENT IN A CHANGING INSURANCE INDUSTRY

9. HOW

10. Effectiveness
Increasecustomer
satisfaction by 20%
Customerexperience Efficiency
Improveclaim handling
accuracy
Reduce claims expenses by 25-30%
Claims function transformation
GeneratesignificantvalueonKPI’s
+ improved
employeeand
intermediary
satisfaction
The total customer journey
starts from a need, a
subscription, being a client
and possibly having a claim.
So do not neglect all possible
touchpoints

11. WHAT
Where to start?

12. Customer
experience
Claims
prevention
Continuous
improvement
Analytics
driven
Value add
New high-level
aspiration value
proposition for E2E
claims management
Roadmap in function of wanted future claims function and KPI impact
Where to start?+ AIand digital technologies
+ Digital claims ecosystem
+ Digital operating model

13. Theory vs practice
High level goal
+ Support from top and middle management
inbecoming champions in claims

14. 2. Fast and
intuitive
process
4. Multichannel
FNOL*
6. Digital
claims status
tracking
A. Product
simplification
B. Customer
and
intermediary
self-service
C. Intelligent
case
management
5. Automated
claims
segmentation
3.
Transparency
in process
D. Front and
back-office
process
digitization
From customer journey to back-office processes
Core of redesign
1. Everything Is
possible
*FNOL = first notification of loss
E. back-office
automation
F. Communi-
cation
Prioritization

15. EXAMPLE

16. Propertyclaim handling
Workflowasistoday
FNOL*
FOLLOW-UP
SETTLEMENT
*FNOL = firstnotificationof loss(notificationof claim)
Email appointment Hardtoget estimate
CSIdecrease by 10%
Call& email Manual fraudcheck

17. Push message
Storm is on its way.
Check roof
Property claim
Storm damaged roof tiles
Claim notification
Via simple, innovative
online platform
Automated claim
analysis
Real-time fraud check
and claim classification
Contractor
appointment
Insurer contractor
repairs within x
working days
Automatic payment
Insurer automatically checks
and pays invoice
• Push notifications
with safety
messages
• IoT-based
behavior
coaching
• Automated FNOL
(e.g. sensors)
• Intuitive FNOL
• Simple FNOL for
intermediaries
• Self-service
damage
assessment
• Digital appraiser
appointment
• Digital contractor
appointment
selection
• Automated case
management
• Automated fraud
detection
• Real-time
progress tracking
• Offering of cash
settlement
• Offering of
replacement
damaged goods
• Automated
invoice
verification
• Automated
payment process
x x x x x
Reality check
Digital but personal customer experience
29years old
Propertyclaim handling
Future

18. IMPLEMENTATION
• The Core insurer: insurers providing only core insurance products and capabilities to provide the needed customer
experience
• Beyond insurer: Organizations that provide extra services with added-value for the customer
• Exponential insurer: Organizations that take advantage of their networks and external partnerships to grow in the
new market and be part of winning ecosystems
• Broker market consolidation? Strategy?

19. • With AI, digital
technologies and the
claims ecosystem +
internal marketing
and IT
• Digitally partner up
with relevant players
in the claims
ecosystem
-> See insurtech and
external providers as an
opportunity, not as a risk
and embrace your
stakeholders
Design phase for the best
possible end-to-end
customer journey
followed up via consumer
feedback
-> Analyse client and
distribution channel needs
and link up with your own
claims function strategy
• Data scientists
• Customer journey
owners
• User experience
designers
• Digital way of working in
the organization
• “Keep the digital
human”
• Know your clients
-> Learn by doing
Cross-function
collaboration
Manage all
processes
New roles and
way of working
Via agile development
methods followed by
evaluation of the
prototype
-> Dare to jump
Prototype
development
Implementation
For competitive differentiation and customer ownership

20. • Small country
• 3 languages
• Copy paste of other
countries = no go (e.g.
Repair networks)
Belgium remains a broker
market and it’s their
client! What’s their
strategy? (e.g.
verzekerje.be)
• Accountants have
hundreds of platforms
to use -> Brokers have 4
platforms to use (+
asweb)
• Linking up is very
difficult
• New IT architecture
concept could be
required
Belgium Broker market Platforms
Be realistic in your market.
Belgium is not ready for all
new digital solutions
Realism
Possible pitfalls
Make sure you prepare your case

21. YOUR CRASH IS OUR CASH!