2019 BAI Global Innovation Award Winner
FNB Insurance developed two customer-centric innovations to help clients during the difficult time of filing an insurance claim or losing a loved one. The first uses a straight-through processing tool to significantly decrease clients’ waiting times after they file a claim, resulting in 35% of claims being paid out instantly. The second involves the insurer checking government birth and death records in order to initiate claims on behalf of clients who may be unaware that they are beneficiaries of a policy. FNB also checked all FirstRand Life policies to see if there were claims which were never received, resulting in backbook claims that have since been paid.