Automating Claims Adjustment
Being long-established, the insurance industry relies on older processes which often require a high level of manual “touch”. Each time a claim is touched, both time and expense are incurred and do not always contribute an equal or greater level of quality. As such, an opportunity exists for benefiting both the Insured and the policy participants through fuller claim indemnity to the Insured, more affordable policies, and overall insurance market health which will be better equipped to deal with the uncertainties that tomorrow’s weather may bring. Without sacrificing quality, we’ve shared a number of “wins” with our clients. Together, we are streamlining high-touch workflows, automating older software solutions, digitizing hand-written Loss Notices, automating external claim communications, leveraging automated Risk Level Data imports, dashboarding KPIs for PIFs and approaching severe weather, and predicting claim volume for tracked catastrophes are just a few of what is helping our clients achieve success. A few of the more forward-thinking are “touchless” handling and straight-through processing as a reality.