Thank you for Subscribing to Insurance Business Review Weekly Brief
Thank you for Subscribing to Insurance Business Review Weekly Brief
By
Insurance Business Review | Monday, June 12, 2023
Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.
Technology integration into claims adjusting has revolutionized the industry, offering numerous benefits to adjusters and policyholders.
FREMONT, CA: Technology has revolutionized the field of claims adjusting, replacing manual processes with automation that brings significant time and cost savings. Thanks to advanced technological solutions, what used to take months to resolve can now be accomplished in weeks or even days. Embracing technology in claims adjusting offers numerous advantages, including improved efficiency, streamlined communication, time savings, and enhanced customer satisfaction. By adopting the best claims-adjusting technology available, adjusters can expedite claim resolution with greater accuracy and precision.
The advent of InsurTech has introduced efficiencies and cost savings across the insurance claims industry. While the importance of physical inspections cannot be overlooked, technologies such as live streaming applications, 3D imagery, and artificial intelligence (AI) are transforming how insurance claims are processed. These technologies benefit the claims industry by improving the claims process and ensuring policyholders remain satisfied.
Automation is pivotal in enhancing the customer experience and expediting the claims inspection and adjusting process. Real-time information sharing, immediate inspection submissions, and live communication options facilitate a more effective claims process. Technologies enables automated report submissions that meet carrier requirements, resulting in significant time savings. Platform integrations can even automate material identification and pricing, streamlining adjuster processes. Automated schedule optimizations, inspection processes, and report submissions ultimately benefit the industry.
Standardized reports and calculations contribute to more accurate outcomes. When combined with automation, inspections can be expedited, and clear documentation can be expected. Platforms ensure that inspectors complete all required fields and pass all checkpoints before completing a report. This comprehensive approach eliminates gaps in reporting and ensures that expectations are met in every inspection.
Improving communication gives homeowners control over the claims process, increasing customer satisfaction by 10 to 15 percent. Platforms allow clients to set their preferred communication channels (text, email, phone, etc.), enhancing their engagement and enabling faster response times. Notification features update all parties involved as the claim progresses, ensuring everyone remains informed. AI, automation, and smart tech implementations support the digital claims process, making it faster and more accurate. Proprietary platforms enable claims adjusters to seamlessly manage the various aspects of claims processing. By eliminating the need to track down inspectors and wait for reports, tech-enabled adjusters gain a competitive edge in focusing on claim resolution. Strategic partnerships with tech-forward companies provide adjusters with the necessary resources to handle claims more efficiently.
Automation, standardization, improved communication, streamlined claims processing, and cost and time savings are some advantages technology provides in claims adjusting. Embracing the transformative power of InsurTech ensures faster, more accurate claim resolution and enhances the overall customer experience. As the field evolves, adjusters can expect further advancements to revolutionize the claims-adjusting landscape and deliver even greater efficiency and customer satisfaction.
I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info