Real-time digital claims payments: the new path to customer loyalty?

Gary was vacationing with his wife in upstate New York when the deer seemingly came from nowhere and leapt across three lanes of highway to total his car. He immediately entered a first notice of loss on his insurer’s website, and couldn’t believe it when his claim was approved within 24 hours – what an improvement over his last experience!

But then the wait began. Gary’s insurer approved a rental car while his car was in the shop, which he put on his own credit card. And while his insurer quickly cut a check for the value of the car, it was delivered to his mailbox in Ohio. Even after he returned home, Gary waited days for the check to clear before he had full resolution. While Gary is a hypothetical customer, his experience and the resulting frustration and stress are all too typical.

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