Page 29 - August 2018 Disruption Report Flip Book

TRANSFORMING THE FINANCIAL ECOSYSTEM JAUNGUUASRTY 22001188
a large cost-savings opportunity — Business Insider Intelligence estimates that as much as 73% of administrative tasks in healthcare can be automated. Moreover, health insurers could reinvest the savings realized by automating core admin functions into better meeting customer demands. Insurers
are confronted by a younger demographic that is accustomed to a digital, convenient, retail-like consumer experience. But many health insurers may be at risk of losing business in this evolving healthcare dynamic — health insurers have low overall customer satisfaction scores, Accenture notes. Given that 37% of millennials cite service as a primary driver for switching health plans, health insurers need to take immediate steps to improve customer engagement. AI could enable health insurers to reallocate capital away from administrative duties — toward customer experience initiatives
— which could drive customer retention and engagement. (Business Insider, Laurie Beaver and Nicky Lineweaver, 08/18/18)
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