With a history of more than 100 years under various names and iterations, Assurant is today a global business services company providing risk management products and services. Business areas include a wide range of niche insurance products and niche markets in the property/accident and extended device protection insurance sectors, among others. Specifically, this includes protection and support products and services for connected devices, cars, and the home for both customers and their customers.
The company has Elita, a globally reusable, configurable, “plug and play” technology that enables fast-to-market, operational efficiencies and scale, launched over 20 years ago and updated regularly. Used in conjunction with the company’s latest dynamic operating system, it helps make repair and claims services available for mobile devices and other purchases by mail, in person or in person, depending on what best meets the customer’s needs. Biju Nair (pictured), executive vice president and president of Assurant’s Global Connected Living, points out that insurance is a big part of the equation.
“When you protect a device…the insurance can be everything, including damage to the device, loss, or loss and theft,” Nair said. “And when you have a mobile phone, that is very important, right? You can lose it in a taxi, or it can be stolen if you are traveling, you can leave it somewhere, smash the screen and the phone will still work… Insurance is part of the overall business services that We offer it.”
Nair explained that Assurant ensures the policy in these cases, provides technology to administer the claim, administer the policy and then fulfill claims quickly and efficiently, as they come in.
Consider an Assurant T-Mobile customer, Nair notes, whose customers can have a mobile device/cell phone that needs repair or replacement.
“When you make an insurance claim, Dynamic Fulfillment takes over, and we’ll try to understand what kind of phone you have and what’s the most convenient way to fix it, or satisfy that claim,” Nair said, “If your preference is that you want to go to a T-Mobile store, for example, You have 500 T-Mobile stores in between comprehensive service and repair as part of your insurance claim and purchase process, and we can direct you there. Or if you’d rather just get an advanced disbursement form [process] It’s over, we can take care of that.”
Several components of technology are working to make this functionality work well, including machine learning and artificial intelligence to quickly address supply chain conditions or spare parts in the context of fulfilling a warranty/insurance claim. Recent updates have allowed the process to also include an at-home visit from a repair specialist.
The technology takes into account repair options, in-store, mail or visit a technician, among other things, as well as any issues with spare parts.
Consumers who wish to file an insurance claim, as in the case of a T-Mobile phone, will log into the company’s website and file a claim, addressing some detailed questions about what happened, and what repair/replacement options are required. The customer receives an email confirmation confirming how the claim has been processed. If the option is to bring the phone to a local store, this is the next step.
“I can receive this email and then go to the store to say this is an approved claim and I am here to get my phone fixed,” Nair said.
Job added often
As Nair describes it, the company’s customer satisfaction technology is frequently updated.
“We are constantly working on improving it to improve the AI engine to make sure we can manage the customer experience a lot better,” Nair said.
One way was through another platform called Vision Tunnel. Launched about two years ago, it allows Assurant to process millions of mobile devices each year at its repair and refurbishment facilities, evaluating and classifying each device based on physical condition. It is automated and able to quickly classify and identify specific device models, to reduce processing time and enhance accuracy versus manual device inspection.
He added that the Vision Tunnel also helped boost the claims shift to a great extent.
“You can think of it like the very sophisticated camera equipment that our devices go through,” he said. “Every two seconds, it can take a picture of the device from top to bottom and determine its cosmetic condition very quickly.”