Product warranties are meant to give customers peace of mind so that they can confidently use the things they love. If something goes wrong, they have backup. A fix or a replacement.
But that peace of mind disappears the instant the process of filing a claim gets complicated.
Common customer pain points during the claims process include:
- Manual and repetitive data collection processes
- Slow approval processes
- Lack of transparency as to next steps
Clyde is pushing to change that by redesigning the warranty claims management process to be more customer-centric. Here’s how:
- Automatic enrollment in claims management system upon purchase, keeping all purchase information in one place
- Quicker, automatic approval process, with most claims resolved the same day
- Transparency throughout, from what’s covered by the warranty to proactive notifications as a claim is processed
A look at an average warranty claims process
Here’s an example of standard claims walkthrough from a major educational tech company:
- Customer must find their original receipt with their order number and locate the serial number on their device
- They call a help hotline that’s open from 9 a.m. to midnight
- If their issue is covered by their policy, as decided on by the agent who answers the phone, they’ll get an email that provides them the return order number for the item
- They’ll get another email with a shipping label and ship the item in
- They’ll wait to find out if they’re getting a repair, a refund, or if their claim is denied
Things might work out fine for the customer seeking help—or they might not. It’s hard to have confidence that things will go smoothly because no part of that process is optimized for the customer. Not the need for them to dig up paperwork, or to call at a certain time, or to wait days or even weeks to find out if their claim is actually going to be approved in the end.
But that’s changing.
Retailers are starting to realize that customers truly care about product protection, with 24% of customers choosing where they shop based on where product protection is available and 62% of customers actively sharing negative experiences.
As a result, they’re looking for product protection partners like Clyde, who can offer better customer experiences across the board.
Improvement 1: Automated Enrollment
There are no extra steps when it comes to activating a Clyde protection plan. Customers log into our portal with their email address, which automatically pulls all of their product and contract info. No receipts or serial numbers needed.
When they file a claim, their information is automatically imported and they just have to answer a few quick questions to finish it off.
Improvement 2: Faster Approvals
Customers with product protection through Clyde don’t need to wait long for resolution on their issues. We automatically review claims and provide an approval, and in many cases, a resolution, on the spot. Most claims are resolved the same day. Our platform also supports super seamless repairs facilitated by the retailer.
Improvement 3: More Transparency Along the Way
From the beginning, Clyde sets out to make things as simple and transparent as possible by using plain language to describe coverage in our plans so that customers know exactly what is and isn’t included. When an issue comes up that’s covered by the retailer’s warranty versus Clyde’s, we provide a direct handoff of the issue from our portal to the retailer’s support team to keep things seamless for the customer.
And all along the way, no matter the kind of issue or whether it’s Clyde or the retailer fixing it, we keep the customer in the loop, with notifications and real-time transparency on the claim approval process.
Overall, warranty claims management is becoming more customer-centric—and that’s a good thing for everyone.
These three trends in making claims management more customer-centric are all focused on the individual claims process—there’s a lot to improve there, and we’re proud of the changes Clyde is driving.
But we’re taking things a step further, too.
Clyde isn’t just helping to resolve problems that come up. We’re also enabling retailers to stop problems from happening in the first place. By providing sellers detailed analytics dashboards that identify patterns in warranty claims, we can help them to solve recurring product issues. Knowing exactly what’s going wrong and how the customer claim process is going lets retailers give focused attention to making product and process improvements. And that’s when everyone—customer, retailer, and claims management partner—wins.