Keeping the microinsurance promise for clients

At the ongoing Microinsurance Master acceleration program, I am learning about the value that paying claims swiftly brings to insurance firms. It is the opportunity for firms to make microinsurance tangible by keeping their promise of protecting clients. From visiting clients to experience how they receive financial literacy nuggets to listening to their emotional stories of loss from life’s various challenges, I have had a front-row seat to how the operations and distribution partnerships in microinsurance must come together like a well-conducted symphony to ensure that the client feels supported when it matters most. The shared purpose among Pioneer Insurance and its distribution partners that is ingrained in employees at all levels is core to delivering a superlative customer experience: from product design to claims handling.

?To capture our reflections on claims processing, we have set up a “wall of fame” where we shared our reflections in the form of brief quotes. Here is a collection of my favourites and those that resonated deeply with me

• “Every claim has a story behind it, so we should design our products and claims processes with empathy to guarantee the best possible outcomes for our customers."
• “Claims shouldn’t be taken as an expense but rather an investment."
• ?“Paying a claim is an obligation. A promise is a promise…paying claims is not a favour to clients."
• “I have a renewed sense of our purpose…our reason for being.”
• ?“There is a lot of emotion and empathy in claims processing.”

?Claims processing is in many senses a moment of truth for the insurer and insured client. It is when insurance becomes tangible. As an emerging champion, I am joining my peers in learning that we have to become internal advocates within our microinsurance organizations to ensure that operationally, all teams within our firms work together to keep the promise to our customers: to be there for them in their times of need...to offer protection, and to offer assistance...when it matters most to our clients.

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