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Here is how we are fighting the bureaucracy during the COVID-19 crisis

6 minutes

Insurers have been dragging behind other industries when it comes to digital transformation.

But a few weeks ago, everything changed. Suddenly, the onus is on insurers to quickly transition their workforce to remote servicing and remote work. As customers and employees are “sheltering in place,” companies need to find creative ways to reach their customers and to continue their service.

Digital capabilities suddenly became the number one priority. Forward-looking insurers who already have invested into developing state-of-the-art digital customer experiences are in a relatively good position. 

But what should the less digitally mature organizations do? According to our research, an average US insurer still maintains 91 PDF forms on their website. The so-called “digital experiences” for many insurance companies amount to clunky PDFs that the customers are required to download from the insurer’s website, fill it in, scan it and then send it back via email. 

As back-office employees are working from home, the servicing of clunky and manual processes in a timely manner becomes high but impossible.

Unless you are using a no-code platform

Below are a few examples of digital processes that we have built on our system to demonstrate how we can empower insurance carriers and banks with fully integrated digital journeys delivered in a matter of days.

Mortgage forbearance process forms

Earlier in March, the Federal Housing Finance Agency (FHFA), which regulates mortgage facilitators Fannie Mae and Freddie Mac, directed mortgage servicers of Fannie and Freddie mortgages to offer mortgage forbearance or reduced payments to homeowners impacted by the novel coronavirus.

Within ten business days, according to the regulation, state-regulated banks will have to “email, publish on their website, mass mail, or otherwise similarly broadly communicate” to borrowers how they can receive the 90 days of forbearance on their mortgage payments.

EasySend empowers banks to quickly create a digital process that would help banks connect with their customers who wish to claim the mortgage forbearance benefits. To learn how no-code platforms empower banks to build such a process in a matter of hours.

Auto insurance claim forms

Accident reports are probably one of the most annoying forms for customers to fill in. Many companies still require an accident sketch made by hand.

That is why we developed a simple drag&drop component to quickly develop FNOL and auto-claims process in a matter of minutes

Work from home request forms

As state-wide lockdowns become the norm, working from home is the new normal. But some employers still require employees to go through some paperwork to make it possible.

No problem, at EasySend, we can easily digitize your work from home request forms. Here is what it looks like.

Personal details update forms

When face-to-face is no longer an option, some simple processes such as personal details updates must move to digital channels. Of course, it is possible to manage those processes through email and PDF, but this would require a lot of manual processing, which is difficult for many companies to accommodate at reasonable time frames during the global pandemic.

Developing a process that directly integrates into all internal systems, including your CRM, claims management, and case management system with code, would take months. 

Taxes, deductions, 401K, and other forms

The Treasury Department and the IRS have officially extended the federal income tax filing due date from April 15, 2020, to July 15, 2020. Read the complete announcement on the IRS website here

But despite the deadline extension,  tax day always arrives sooner than you think! As people gather their tax forms for this year, they will scramble to quickly fill W-2 for income from an employer or a 1099-INT for interest income from a bank, brokerage firm, or financial institution. Most will also need to take into account your 401(k) taxes and 401(k) tax deductions. 

Why not make everyone’s life easier with digital journeys instead of clunky PDFs and paper forms such as these?

Unemployment claims forms

News of job cuts, layoffs, company closures, and work reductions was coming almost as fast as updates on the COVID-19 spread. As a result, unemployment office call centers have been overrun globally, and many callers desperate for help are getting only busy signals.

For example, in Texas, 800,000 people have been trying to claim benefits. Last Sunday alone, the commission was hit with 100,000 calls.

To reduce inbound inquiries, digital journeys are invaluable tools that should be utilized across the world. There is absolutely no need for clunky and manual processes at times like this.

No-code application development reduces the time to market digital customer journeys from months to days or even hours.

Vera Smirnoff

Vera Smirnoff is the demand generation manager at EasySend. She covers digital transformation in insurance and banking and the latest trends in InsurTech and digital customer experience.