Have you heard about the 4th industrial revolution? Did you know that we are right in it and that it already has or will affect almost every part of your life, including Personal Claims Management? Before we dive into it, let’s look at the three phases of the industrial revolution which took us here.

The first three industrial revolutions

Phase 1 – End of 18th century

The steam engine and mass production changed everything, and industries started to replace agriculture as the economy’s backbone.

Phase 2 – Beginning of 20th century

The new energy sources like electricity, gas, and oil-powered new combustion engines putting the industries at full speed, and railroads and telegraphs improved communication.

Phase 3 – Early 1970s

Many of you might have experienced the third industrial revolution with game-changers as semiconductors, personal computers, and the internet.

The 4th industrial revolution

The fourth industrial revolution is characterized by faster technology developments and concepts as the Internet of Things, 3D printing, and artificial intelligence. It is happening right now in almost every industry.

It was first introduced by Klaus Schwab at the World Economic Forum, describing it as “Technological revolution … that is blurring the lines between the physical, digital and biological spheres.”

That’s interesting, and most of us are already starting to experience it; talking to a colleague online is almost the same as talking to him in person. More interactions that recently were physical like shopping, banking, and even laundering, exercising, and working can be done more or less digital.

What about Personal Claims Management?

Personal Claims Managers are often aware of the situation and that they have fallen behind in digital development. Some are still at the beginning of the third industrial revolution combining computers with piles of papers and postal communication.

But why is this? Maybe personal claims management isn’t the area with the highest-profile or volumes; luckily, we do not break our leg as often as we break the screen on our phones. Can it be lack of knowledge, not trusting sensitive information in a cloud platform?

Read more: Why personal claims management must get digital

The solution: A Decision Support System (DSS)

To take Personal Claims Management to the 4th phase, you need a Decision Support System (DSS) to collect and overview the case with integrated and user-friendly communication with the customers and medical advisors. With all materials gathered digitally, you can extract valuable data and automate several steps.

Do you want to know more about how a DSS could be beneficial to you? Get in touch with us to learn more.

Let’s get digital!

We’ll take you through how an insurance company of the future should operate to create a more efficient and secure process and increase customer engagement.

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