How Innovation Is Enhancing the Buyer Expertise


This submit is a part of a sequence sponsored by The Cincinnati Insurance coverage Corporations.

At The Cincinnati Insurance coverage Corporations, internally pushed innovation prioritizes enhancing the agent and policyholder expertise. When requested to explain modern initiatives at Cincinnati Insurance coverage, John Crow, Vice President of Headquarters Claims, shares, “We’re bringing collectively essential thinkers with sturdy problem-solving abilities and giving them a platform to share concepts, give you options, and check them with our clients.”

To foster innovation, Cincinnati established the Strategic Innovation Group in 2018. The corporate additionally leased house on the 1819 Innovation Hub, situated on the campus of College of Cincinnati, to help and home Cincinnati Insurance coverage’s 1819 enterprise course of. Chosen business-submitted ideas are run by a 12-week strategy of buyer discovery, co-creation and testing for validation. All through the method, a small, cross-functional workforce of workers engages clients in every section to make sure the ideas and developed purposes are totally vetted and validated for market acceptance. By this course of the corporate has introduced ahead purposes in help of DIY declare submission, distant inspection and aerial-based imagery.

On the firm’s Fairfield, Ohio, headquarters, Studio ventures provide workers who can’t step away from their jobs for 12 weeks the chance to validate customer-focused innovation ideas by an accelerated strategy. From this program, the corporate is experimenting with a option to give policyholders the flexibility to watch their claims’ progress from begin to end.

What’s at the moment within the pipeline? Cincinnati Insurance coverage is piloting a brand new ‘bi-directional texting’ utility to permit adjusters to speak with policyholders and claimants by textual content and seize all communications and documentation within the claims system. This course of has required vetting of a number of distributors, piloting this system within the area and ensuring it meets the wants of policyholders, brokers, adjusters and headquarters claims workers.

As well as, the Claims division and the Strategic Innovation Group are persevering with collaboration with insurtech firms Nearmap and HOVER, Inc., with the expectation of enhanced inspection and underwriting of properties by providing a DIY photograph submission utility to policyholders, in addition to enriched aerial imagery to Cincinnati Insurance coverage inspectors, adjusters and underwriters.

When requested how tasks are chosen for these innovation applications, Brad Purnhagen, Strategic Innovation Lead, explains, “Cincinnati focuses on the place there’s a enterprise affect and unmet buyer want. Anytime we are able to discover a house like that, we’re going to cost arduous towards that chance. That’s clearly one thing that’s driving affect for the group.”

Simplifying the claims course of is without doubt one of the major objectives of innovation at Cincinnati Insurance coverage. Crow provides, “We need to make it straightforward for our policyholders and brokers to do enterprise with us, talk with us and supply selections that permit them to work together with us how they need to work together.”

Maintaining the heart beat on innovation all through the trade, Cincinnati is a member of PlugandPlay Tech Heart in California, BrokerTech Ventures in Iowa and Cintrifuse in downtown Cincinnati. Celebrated for their very own initiatives, Cincinnati Insurance coverage was the primary insurance coverage provider to be awarded a grant of $2.5 million in help of innovation from JobsOhio. To be taught extra about how innovation is bettering the shopper expertise at The Cincinnati Insurance coverage Corporations, observe them on LinkedIn.

John Crow, Vice President, Headquarters Claims, has been with The Cincinnati Insurance coverage Corporations for 36 years and has held numerous roles throughout the claims group. As we speak, John oversees the claims operations group, which helps expertise, claims, analytics and statutory reporting, name heart and monetary operations. Observe John on LinkedIn

Brad Purnhagen, Strategic Innovation Lead, The Cincinnati Insurance CompaniesBrad Purnhagen, Strategic Innovation Lead, has been with The Cincinnati Insurance coverage Corporations for 14 years. With expertise within the underwriting, threat administration and company technique departments, two and a half years in the past Brad transitioned into his present function to assist kind the Strategic Innovation Group. Observe Brad on LinkedIn


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