Renewing your insurance with Delta Insurance just got significantly simpler for a range of policies with the rollout of a new, digitised renewal process.
Delta Chief Operating Officer Kent Chaplin says the innovation is “a significant step forward in the digital revolution happening in our business.”
Automating a number of otherwise time-consuming insurance processes is no longer the way of the future, says Chaplin. “It’s the way of the present – particularly in the COVID-19 environment. The best performing insurance companies globally are changing their operations to automate significantly and simplify their processes in the face of strong consumer expectation, particularly in how they respond to COVID-19.”
Developed by the Delta team and Auckland software company FormsByAir, the new process has streamlined renewals for less complex forms of insurance cover offered by Delta. Previously, Delta’s underwriters had to manually follow-up every policy coming up for renewal with the broker involved – a time-consuming task.
Delta Insurance New Zealand Managing Director Dinesh Murali says the main driver of the change was to make the process easier and more efficient for the end-user, the customer, as well as the broker, who is – and will continue to be – a vital intermediary for the business. “This is something our end-users have been seeking – a simpler process and better experience.”
Under the new system, a looming renewal expiry date automatically triggers the sending of an online questionnaire to the client via their broker, says Murali. Submission of the completed questionnaire, which is prepopulated with the client’s data, then triggers the approval and renewals process. “If any major changes are required, the process takes a little longer, but if there are no major changes the actual renewal takes less than five minutes.”
Murali says the process took around 12 months to develop and will be rolled out progressively over the next 6-12 months, beginning with a pilot group of brokers. Delta intends to make the system available to all brokers who wish to take it up, but for those not currently able to use the digitised system, or don’t wish to take this step, renewals will be completed as previously.
Ultimately, says Murali, Delta’s goal is to adapt the software and questionnaire to enable more complex policies to be renewed digitally, while the system also offers an opportunity for the company to develop new business.
“The future is about automation and simplification – using smart technology to reduce manual intervention and re-keying, allowing underwriters to concentrate on value-added tasks, such as product development and enhancing customer service.
“Digital modernisation is a journey and we’re off to a great start with this renewal process – watch this space.”