New Report Exposes Communication Inefficiencies in Auto Total Loss
Hi Marley offers research, data and expertise to help carriers reduce friction, lower costs and improve customer experience in total loss claims, from FNOL through payment.
Boston, MA – September 26, 2023 – Hi Marley, the intelligent conversational platform built for P&C insurance and powered by SMS, today released a report that combines research, data and expertise to uncover carriers’ key challenges and areas for improvement in automotive total loss: Accelerate Customer Satisfaction in Auto Total Loss Claims.
Containing costs and driving customer satisfaction in claims is inherently challenging for P&C insurers. Those challenges are magnified in auto total loss, which has the lengthiest cycle times of all claim types and includes six steps that require multiple contacts and touch points. In fact, according to Hi Marley’s research, total loss cycle time has increased from 15 days to 20 days between the first notice of loss (FNOL) and vehicle release on average. With average total loss claims costing $54 per day, expenses add up quickly.
“In speaking with our customers, we quickly learned that delays and communication breakdowns are two of the biggest challenges in total loss claims,” said Hugh Allen, Principal Product Strategist at Hi Marley. “Streamlined communication and improved collaboration throughout the six steps of total loss result in less confusion around claim ownership and faster interactions.”
Hi Marley’s report exposes a number of common challenges and inefficiencies at each step of total loss process—from FNOL to vehicle release—as well as best practices carriers can implement to improve the overall customer experience, including:
- Only ten percent of carriers ask for photos or videos at the time of FNOL via phone, and 30 percent ask after the customer has already submitted their total loss claim. Offering text messaging during FNOL allows carriers to communicate with customers how they prefer and quickly collect the crucial information needed to assess the claim.
- 20 percent of the customers involved in total loss cases were charged a fee for being unable to remove license plates because they were unaware they were responsible for this step and did not know to bring a screwdriver. Sending simple reminders or checklists can save a lot of time and frustration down the road.
- In 30 percent of cases, the claimant had to sign for the check when it was delivered to their home, either causing interruption or creating potential delays if they were unavailable. With digital payment platforms that exist today, such as One Inc, carriers can shift from paper payments to same-day deposits.
The report explores how carriers can leverage asynchronous single-thread communications (e.g. texting and customized alerts) throughout each phase of the total loss experience to drive clarity, improve customer service and reduce total loss cycle time. For example, compared to claims that do not use texting, carriers who use Hi Marley’s intelligent conversational platform during the total loss process reduce claim cycle time by 35 percent and save $125 per total loss claim on average.
During a total loss webinar alongside Hi Marley and Plymouth Rock Assurance earlier this month, Mark Garrett, Director, Insurance Intelligence at J.D. Power, said, “One of the biggest frustrations that we see in our data is just the availability of reps. Can you actually get a hold of your adjuster? Can you get a hold of someone at the insurance company? When people adopt texting, they have a much more positive view.”
Sean Harrison, Claims Director, Total Loss at Plymouth Rock Assurance, added, “We’ve actually settled claims with people in challenging work environments where they can’t take a phone call, but they can receive a text message. We use Hi Marley to present all the information to them, let them know what the value of the vehicle is, and then they can review it on their time…That has just streamlined our entire process.”
To read the full report, download: Accelerate Customer Satisfaction in Auto Total Loss Claims.
About Hi Marley
Hi Marley is the first intelligent conversational platform built for P&C insurance and powered by SMS. Designed by insurance professionals, Hi Marley enables lovable, convenient conversations across the entire ecosystem, saving money and time for carriers while building customer loyalty through delightful interactions. Hi Marley’s industry-leading collaboration, coaching and analytics capabilities deliver crucial insights that streamline carrier operations while enabling a frictionless customer engagement experience. The solution is made for the enterprise; it’s fast to deploy, easy to use and seamlessly integrates with core insurance systems. Through its advanced conversational technology, Hi Marley reduces friction – empowering innovative carriers to reinvent the customer and employee experience. Learn more at www.himarley.com.
