Straight Through Claims Processing and Real Time Payment Qorus Innovation in Insurance Awards 2018 - Winner

The straight-through digital processing of insurance claims and real-time flight delay claims automation and approval are digital solutions that allow the completion of many processes to be fully automated. This is done on our online integrated platform which eliminates the manual processes needed from start to end. In addition to straight-through claims processing, Etiqa also offers automatic flight delay claims approval in real-time, with minimal human intervention. Our system uses Application Programming Interface (API) and customer data integration to allow for real-time tracking of flight delays, automatic immediate assessment and instant approval for travel delay claims. The straight-through processing for claims was developed to address the tedious approval claims approval process for our customers. Without this automation, customers have to manually gather all the data to submit as evidence to the claims officer for their claims to be processed, which results in a lengthy process that can stretch up to days or even weeks. There were also many problematic factors involved such as the lack of proper evidence and inefficient communication between the claims officer and the customer, which can further stretch the process to several weeks or months. Without this straight-through processing, the whole communication between the insurer and the customers is done via email and normal mail, which results in an inefficient process. Hence, this customer-centric solution is meant to enhance productivity and improve efficiency, eliminating 50% of human effort needed and reducing the waiting time for claims approval. Similarly, before we introduced real-time flight delay claims automation and approval, our travel insurance customers had to contact and inform us, the insurer, in the event that their flight is delayed and we had to validate that information before we processed and approved their travel delay benefit manually. With the new process, customers will automatically receive notifications of their flight delay and will be kept informed of their real-time claims status, providing intuitive, convenient and seamless service for the customer. They will also benefit from automatic immediate assessment and instant approval for their travel delay claims. This has also increased operational efficiency significantly. The impact for this has been tremendous since we enhanced our digital claims filing platform into a straight-through digital claims process in April 2017 with only a 1-day turnaround time. This has led to significant manpower savings and reduction in operational costs. The result is a fuss-free process for customers who seek self-service, and a seamless and convenient user experience for e-submission of claims through our integrated digital platform. Our straight-through processing for online claims is currently available for our General Insurance solutions, in particular, for our travel insurance plan, but we are planning to extend it to include a wider suite of insurance products in the near future. This is one of the ways we keep our brand promise of humanising insurance. Etiqa has also introduced the eWallet in Tiqconnect, the Company’s customer portal. Claims are seamlessly processed through Etiqa’s TiqConnect, automatically processing, approving and crediting any claims through eWallet within 24 hours. Existing customers can enjoy eWallet encashment via DBS PayNow or IDEALRAPID (bank transfer).