CEO Wayne Peacock: USAA’s Covid-Driven Customer Experience Innovation In Insurance And FinTech
“The pandemic’s onset accelerated our innovation efforts, as members sought ways to stay healthy and save money while relying more on digital interaction with their financial institutions.
We recently piloted augmented reality-enabled glasses with field adjusters. Wearing them, the adjusters’ manager can see the damage without physically being present. The pilot eliminated 160 hours of travel time for four adjusters over the course of three months
We are now using machine learning to digitize paper medical records and build summaries for applicable life insurance underwriting. This results in a significant reduction in time. Manual summaries took up to five days, but machine learning has reduced the time to one day and improved accuracy.
SafePilot enables more members to save up to 30% on their auto insurance policies through safe driving. Last year enrollments increased by 200%.
Our mobile interactions increased by roughly 17% shortly after the pandemic was declared, and use of mobile spread significantly to older demographics; Boomers have become a significant mobile audience”