Top 3 Technologies for Insurance Adjusters

Technology has been changing our lives and how we perform our daily activities. It has come time for the claims industry to be the next in line to be revitalized with modern injection of great, sophisticated, and yet easy to use technology. Here are the 3 technology resolutions that help improve how insurance adjusters manage the claims process and enhance customer experience.

  1. Implementing claims processing systems. 

    The claims processing experience is the most important element of an insurance adjuster’s routine business. This experience determines how well customers perceive the efforts of their public adjuster or an insurance carrier and whether or not they will remain loyal customers in the future. Insurance adjusters must use the right claims processing system that facilitates settlements in a timely fashion. Having a claims processing system that can barely compete in a snail race could harm customer satisfaction and the overall brand reputation. Therefore, ensuring an efficient and reliable claims processing performance is essential.

    So how can the claims industry guarantee an efficient and reliable processing performance? Three words: Application Performance Management. Reducing claim process complexity is an important solution for improving the whole claims resolution process. Claims processing is a complex sequence of interconnected processes that are initiated by the customer and followed through by the insurance adjuster. These complex processes include the claim initiation, document processing, investigation, litigation, claim settlement, and closure. The role of the claims processing systems is to support all of these steps and deliver optimal application reliability and speed to the customer. Through modern application performance management, insurance adjusters are able to detect and diagnose the many problems insurance adjusters and customers are facing and the many delays that occur in transition within claim resolution phases. Creating an initial automated solution and ensuring its optimal operation to be free of delays and bottlenecks is what makes claims processing systems so valuable.

  2. Utilizing mobile applications. 

    A multitude of mobile apps exist to help insurance adjusters expedite claims management process. Some perform data lookup and even measurements of the room. Other mobile apps improve how customers communicate their problem to insurance adjusters. Many apps have been developed to automate the capture the pictures, automatically uploading them into the claims management system, however, there are a lot more innovative solutions entering the market. For instance, there are applications that allow adjuster to perform remote damage assessment to gauge the size and scope of the damage.  Mobile, Real-time visual streaming technology is beneficial during the early stages of the claims process because adjusters are able to gain a better understanding of the extent of the damage before traveling to their customers property. The customer experience is enhanced through these types of apps by increasing the time of response exponentially and adequately prepare for the claims evaluation before ever setting foot near the policyholder’s property. These apps are ideal for insurance adjusters because it offers them a real-time visual view into the problem and allows them to decide beforehand the correct type of assistance and support necessary for their customer’s needs. With this approach, the customer experience is improved drastically during the initial stages of the claims process.

  3. Digitizing the claims documentation process. 

    It is important to note that the speed of the claim process is directly proportional to claim processing costs. The speed of the claims process, however, depends on the process effectiveness and efficiency of the tools utilized. Relying on outdated or manual-based processes will be a detriment to the completion time. Outdated paper processes are becoming extinct as they are extremely disorganized, error prone, and time consuming. By digitizing the claims documentation process, insurance adjusters not only accelerate their task execution, but also enable instant access to the information needed to expedite service to policyholders. Through simple and efficient technology, insurance adjusters can experience and offer their clients a fully-automated claims process that is efficiently effective

    Using electronic documents, insurance adjusters can easily manage the documentation process from the initial notice of loss through the claims adjustment process to closure without being consumed with unnecessary paper trails and missing claims documents. Electronic documents make it easy to collect, store, share, and even sign required documentation, reducing postal mail and signature turnaround time from 3-5 days to 4-8 hours. Thanks to this technology, adjusters can instantly transform their manual processes into uniform electronic claims procedures that allow them to sufficiently monitor, measure, and record every aspect of the claims process.

These solutions are the key ingredients to not only ensure quality customer experience, but also reduce the extensive operational costs associated with claim handling. For areas that are often impacted to major weather events, these technologies are imperative to the overall health of the organizations, as leaky operational processes often result in a heavy burden on organization and the staff. Investing into these technologies on the other hand, ensures streamlining of the claims resolution process.