Claims Transformation Summit 2022
SEPTEMBER 20, 2022 | 1-5 PM | Mandalay Bay Convention Center
Claims Transformation Summit 2022
Implement a bridge to next-gen claims and exceptional servicing.
Be Part of ITC2022’s Immersive, “Claims Transformation Summit”, Presented by Benekiva
Join Benekiva and our esteemed panelists for this claims-focused kick of session on Tuesday, September 20, 2022, from 1:00 – 5:00 as we help carriers “create a bridge to next-gen claims and exceptional servicing”. You’ll learn:
- How to concept for current and future state
- How an agile platform supports innovation
- How to phase transformation with a “crawl, walk, run” implementation
- How to evaluate optimizing or transforming to a modern system
- How intelligent digitization builds customer loyalty and reduces the “hassle factor”
AGENDA
1:00 – 1:15
KICKOFF
1:15-2:00
EMPOWERING CARRIERS: Digital Technologies for Your Unique Claims Transformation Needs
Moderator:
• Bobbie Shrivastav, Co-Founder & COO, Benekiva
Panelists:
• Lisa Parker, Transformation Leader, Northwestern Mutual
• Brent Williams, Founder & CEO, Benekiva
• Steve Shaffer, President & CEO Homesteaders Life
• Sarika Gupta, Head of Insurance Market Growth, EXL
Experts predict that in the next two years, there will be an enormous shift to a more dynamic, portal-accessed, personalized experience that spans multiple channels. This stems largely from people living in an Amazon world where we expect things instantly.
Carriers who are not enabled because of legacy systems and manual processes risk losing trust and loyalty because of the "hassle factor" clients and end customers will come to associate with their brand. With hyper-personalization becoming the norm across all forms and channels, creating a rules-based orchestration layer that seamlessly pushes and pulls information is ideal.
But how do you get from A to Z? This session will discuss the unique challenges facing carriers to make technology investments and strategic decisions in a methodical way that serve both the near– and long-term company goals.
2:00-2:15
NEW PRODUCT PREVIEW FROM BENEKIVA AND EXL
Hear from Brent Williams, Bobbie Shrivastav, and Lawrence Krasner about a joint product launch.
2:15-2:30
Claims Transformation and Role of Asset Retention
A Fireside Chat
Moderator:
• Bobbie Shrivastav, Co-Founder & COO, Benekiva
Panelists:
• Brent Williams, Founder & CEO, Benekiva
• Tim Dineen, CEO, Management Research Services
Our industry heavily focuses on new business and reducing lapse rates, but frequently, forgets about asset retention at the time of claim. Our research shows that less than 4% of assets get retained at the time of claim. In this fireside chat, we are going to have a conversation as to why retention is necessary and how can carriers start their claims transformation journey while providing the opportunity for asset retention.
2:30-3:00
TURNING OBSTACLES INTO OPPORTUNITIES: Learn from Your Legacy and Adjust Intelligently for the Future
Moderator:
• Ewelina Mroczek, AVP, Lincoln Financial
Panelists:
• Nick Gerhart, Executive Vice President, Homesteaders Life
• Soven Shrivastav, Co-Founder & CTO, Benekiva
• Yogesh Bansal, Partner, Infosys Consulting
It’s the universal claims legacy dilemma: do carriers “fix” the current claims situation or invest in a more modern, end-to-end system?
Carriers and their technology partners need to work together to determine where in the claims process automation makes sense. It's critical to evaluate the claims processes, systems, and technology in relation to how they support—or don’t support—their business goals. Once the analysis is done, another question presents itself, “do we use internal resources to build it or find a technology partner?” Some carriers take a hybrid approach where they smartly leverage the old, and partner with technologies that connect the modern and the legacy.
This session will explore present state scenarios and the analysis needed to make decisions for the near- and long-term optimization and transformation.
3:00-3:15
BREAK
3:15-3:30
TURNING OBSTACLES INTO OPPORTUNITIES: TPA Landscape and Importance of Claims
A Fireside Chat
Moderator: Bobbie Shrivastav, Co-Founder & CPO, Benekiva
Panelists:
• Dave Miller, VP Business Development, EXL
• Laurel Jordan, AVP of TPA Delivery, EXL
As carriers launch new products, divest old blocks of business, or need talent, Third-Party Administration is an avenue that many have utilized as the TPAs bring expertise, technology, and people. Claims don’t stop, whether they are being administered internally or outsourced. Learn the importance of Claims Center of Excellence in one of the TPA organizations.
3:30-4:15
TURNING OBSTACLES INTO OPPORTUNITIES: Taking the Transformation Journey, One Step at a Time
Moderator:
• Brent Williams, Founder & CEO, Benekiva
Panelists:
• Bobbie Shrivastav, Co-Founder & CPO, Benekiva
• Lloyd Campbell-Gibson, Head of Claims, SwissRe
• Samantha Chow, VP and Global LA&H Sector Leader, Capgemini
The journey over the claims transformation bridge takes a blend of planning and agility. Carriers and their technology partners need to work together to determine where in the claims process automation makes sense. For every claim processed, there are hundreds of sub-processes, many of which don’t need to be done by a person. For instance, automating certain correspondences can free up staff for more complex claims that need a “human interaction.” Evaluating each step of the process takes time and as the process continues to evolve, it requires a system that is flexible to evolve too.
This session will discuss the critical need for concepting a future state while evaluating all aspects of the current situation. It will dive into the importance of an agile platform to ensure that all of the time, money, and resources spent are long-term investments into a flexible solution.
