Autor: David Esteva

As we approach spring and summer, we know that it is one of the most ideal times to enjoy outdoor activities, one of the most favorite being the beach or the pool. However, we tend to forget the care and necessary measures that we must have as citizens to prevent forestal fires, which are quite common in Chile at this time.

In recent years, Chile has been in danger of forest fires for at least eight months of the year, which clearly translates into an investment of resources to prevent and combat these types of accidents. It is known that the national budget for the year 2020 for the fire season has reached 63,000 million pesos.

Around 7,000 forest fires occur in Chile and originate when environmental conditions, such as lack of rain, higher air temperature and south wind flows. This occurs between October and April, not only due to the causes already mentioned, but also due to the carelessness of negligent people who increase the probability of a fire occurring.

That is why we want to do our bit and share with you these measures that can help prevent forest fires:

• Don’t throw matches or cigarette butts on the ground.
• Do not smoke in places with dry vegetation that could burn.
• Avoid lighting bonfires in areas close to vegetation.

If it is strictly necessary to make a fire:

1. Do it in an area away from branches, trees or elements that can ignite with fire.
2. Delimit the area of ​​the fire with stones or sand to prevent its spread.
3. Keep nearby items that can be used to put out the fire such as sand, water or dirt.

Preventing forest fires is everyone’s job, since in some way we have even been participants without realizing it. We must educate and be aware of the consequences that all this can bring, such as: damage to the soil, destruction of the habitat of wildlife, loss of plants that generate oxygen, increases the greenhouse effect in the atmosphere due to the emission of carbon and others harmful elements for the environment, among others.

Let’s be aware!

Cybercrime is one of the greatest risks that companies are exposed to on a daily basis today, where the Internet of things, social networks and applications have provided an environment conducive to exponentially increasing spaces of vulnerability.

These types of attacks are one of the most accentuated concerns for companies, institutions and governments. Cybercrime has managed to structure itself to break any security barrier and does not discriminate when attacking and choosing its victims. A hacker attacks on average every 39 seconds.

These attacks are based on:

• Information theft.
• Obtaining personal data.
• Theft of bank passwords.
• Disable teams.

On average there are in 2020, more than 200,000 million devices connected and exposed to attacks, with an incalculable security breach. This panorama is causing the cybersecurity sector to change its way of approaching the fight against cybercrime and to organize itself more and more around the protection of information, the most valuable asset.

Fundación MAPFRE assures that companies must be aware of the need to incorporate cybersecurity within risk management in order to be able to obtain preventive measures and plans to detect vulnerabilities.

One of the most emphasized points by MAPFRE is the one that ensures that companies must change their mentality in order to work together with insurance companies so that insurance does not become an analgesic element in the absence of security measures. Policies associated with technological risks are currently evolving due to the development of digitization and the use of new technologies.

The clear lack of data on claims and their evolution, has indicated the need for companies to study the risks they insure with better precision. In the same sense, it is essential to know the true scope of your computer protection systems and qualify their resistance capacity in the event of a cyberattack.

This is a very positive scenario for insurance, since it is expected that in about ten years the global volume of premiums for this type of insurance will increase to more than 20,000 million dollars, as a result of an increase in the number of claims at the global and the existence of an increasingly interconnected and digitized business environment.

Fraud is one of the most common activities against insurance companies, and those who participate in this crime seek to appropriate benefits or compensation that clearly do not correspond to them.

Currently, these types of actions continue to occur and the sanctions are not really taken into account so that they do not continue to occur.

There are many cases of attempted fraud caused by the insured, where they have exaggerated and wanted to show that the accident has caused them more damage than they have actually suffered, such as taking advantage of a small blow to the car to receive compensation that allows them to fix a part or paint any part of the vehicle.

However, fraud does not always occur on the part of the insured, since insurance industry workers take advantage of their condition within the sector to obtain benefits and justify a claim from a known customer.

There is also the proven case that other companies have been involved in fraudulent activities against the insurer, such as clinics, mechanical workshops, among others, where they falsify invoices and reports.

Now we will share with you the most frequent types of fraud within the insurance sector to understand their nature:

1.Hiding information: many times it is sought to hide that an event has occurred due to the negligence of the insured or that the damages have been greater because the affected party did not comply with the security measures.

2. Giving erroneous information: complementing the previous case, in some frauds an attempt is made to distort the information of the incident that occurred, changing the moment in which it occurred, the location, cause and even people involved.

3. Simulation of an accident that does not happen: within this type we can get a false theft or an appliance that “has been damaged” but in reality if it works.3. Simulation of an accident that does not happen: within this type we can get a false theft or an appliance that “has been damaged” but in reality if it works.

4. Exaggerating the consequences of the claim: within this point we find claims related to health, since there are cases where the insured try to exaggerate their ailments and illnesses that they do not actually have.

5. Intentionally causing a claim: deliberately producing a claim is one of the most used techniques to try to defraud the insurer.

The prevention of fraud is an issue that directly affects the operation of claims, thus impacting the result of operations, that is why through LISA Claims insurance companies will be able to filter suspicious behavior through a fraud funnel and also have an early warning.

Do not hesitate to contact us and share this content among your acquaintances!

As we mentioned in our article «These are the benefits of Personalized White Glove Service for Insurers», if insurers consider the opportunity to offer personalized service, they can guarantee better products and services, evaluating the needs of each individual and know if they are repeated among the insured to be able to implement them even more quickly. The truth is that very few industries are offering this service because of the cost and because it requires changes in the organizational structure and investments in IT.

In this sense, based on how aware the insured is that there is a problem and the ability of the insurance company to respond to it proactively and effectively, customer needs can be categorized into three archetypes:

-Prevent problems: a proactive service can enhance the image of an insurance company in front of its policyholders by being able to prevent problems before they happen.

-Resolve problems before clients report them: busy clients perceive a “white glove” treatment when they know they have a problem but the company detects it and solves it before they raise it.

-Customize responses when customers are contacted: when the insured requests help, insurers can still offer an exemplary service by predicting their needs based on their individual profile to guarantee a personalized response.

Customers of any company increasingly expect them to work tirelessly in the background, anticipating problems before they occur, knowing when, where and how to establish contact and doing so proactively when necessary.

Establishing a guided customer service function with these characteristics requires a good understanding of organizational needs and tools that facilitate the collection, analysis and exchange of information.

Those insurance companies that dare to use innovative technologies will be able to set the pace to compete and grow away from their traditionality.

Customer satisfaction is one of the fundamental pillars for any company and ensuring it goes hand in hand with offering effective products and services with the help of technology.

Learn how to increase NPS up to 20% with LISA by clicking here

Do you think that combining human capital and technology would make possible a perfect formula to contribute to insurers? The truth is that not only is it enough to have modern systems, but true innovation starts from the union between technology and people.

We have already seen in other of our specialized articles, how technology contributes so much since its appearance, in fact one of the most prominent turning points was this year when Covid-19 appeared, which would cause the way many insurers operate be subjected to a new abrupt paradigm.

Currently and for several years, the requirements of customers to purchase insurance have been very changing, for this reason insurance companies have had to take a step back to reinvent themselves, seeing the mistakes made and thinking about how they can play an important future role in the lives of old and new customers to meet their needs.

So that the insurance industry can reach and stay in the «Top of mind» of its clients (it refers to the brand or product that first appears in the mind of the consumer when thinking about a specific industry), and be able to succeed in the future You will need to consider three important points, which Duck Creek Technologies revealed in one of their recent research: «How do you get a great product?»

1. Establish the basis for growth: insurance companies that are considered providers of stability, financial opportunities and security (especially with regard to emerging economies), should have a more established role in establishing trust and infrastructure for continued growth.

2. Eliminate immobility: having a security entity is something that provides tranquility and strength, especially when you have the idea of ​​growing more as a business. When insurers begin to define themselves as a network that offers security, they can help other companies to overcome immobility by acting as partners so that other industries can be ambitious and offer more innovative and customer-friendly products and services.

3. Play a more active role: Insurance companies have long been issuing silent contracts that only enter the game when a claim has occurred. In an increasingly updated and intelligent world, the insurance industry must play a more active role in maintaining the safety and well-being of its policyholders. If insurers can be proactive, they will not only reduce the pain of loss, but also promote safer and healthier societies.

An addition that you must take into consideration is that if the insurer wants to stay or reach the Top mind, it must know its audience, offer quality products and services, transmit credibility, be present on a daily basis.

There are many «lame legs» in insurance companies and they go hand in hand with the previous points, that is why implementing technology and real action plans is relevant and the best idea to get out of the comfort zone and be able to satisfy the needs demanded by our policyholders. Get to know LISA and find out how we offer value so that the insurance industry gets out of its traditionality.

At present, the insurance industry has a non-negligible number of customer absences, the percentage of escape will be intrinsically linked to the satisfaction of the insured at the time of having a claim.

In a general context, insurance companies constantly struggle with the retention of their clients, this is fundamental for the business since, from the renewal of their policyholders, new prices are set for the premiums of the new policyholders who will be captured the next year and how much it will impact sales efforts.

On the other hand, technology takes on a fundamental weight, making exit costs much lower for the insured. If 15 years ago we had to go to the branch to cancel our subscription and then take out another policy, today this can be done in a couple of clicks.

For this reason, it is very important to know what the insured’s impression is of the service provided, for that a very useful tool is the NPS (Net Promoter Score), a high number will indicate the client’s predisposition to recommend the company of safe and therefore to stay in it.

It is estimated that only for the Insurance industry the NPS is 36%, this gives us an indication that the churn of clients is not less. We know very well how to attract policyholders is a process that has been approached countless times, but how do we keep our clients?

• Keeping our clients connected: One of the most important reasons why the insured-company relationship breaks down is the little communication that is perceived by the insured. A recurring phrase is «My company caught me in the sale and then I did not hear more about it, even when I requested its services I felt abandoned».
• Ensure an effective process: It is a fact of the cause that the industry has old and even primitive processes, to innovate means to break paradigms and for this to say “it has always been done that way”, is the first thing we must question.
• Opening up to new actors: Mckinsey already mentioned it in 2019, «the insurance value chain is increasingly disaggregated», and this is basically due to the fact that today many processes present in the company’s value chain are being inefficient.

However, today there is a rich ecosystem of actors who specialize in the links of the value chain. Why specialize in everything, if you can partner with the best actor to boost your operation?

It is not a secret at all that the insurance industry is extremely competitive, however the biggest challenge is not to generate a greater flow of sales year after year, but to retain the largest number of clients that helps make the portfolio profitable and thereby improve the reputation of the company through a satisfied customer.