Smartphone technology facilitating customer collaboration with insurers

Until very recently, documenting home or motor damage or creating a spreadsheet of stolen property had been best left to insurance professionals. Now, our customers can be collaborators who can do some or all of that documentation themselves. The involvement of customers is set to transform the way claims are handled. The ubiquity of smartphones […]

Telematics revolutionizes claims: Connected cars will automate FNOL process and so much more

When it comes to claims processing, time is not on anyone’s side. After an accident, flood, fire, or theft, it’s dependent upon the claimant to initiate contact with the insurer. And it can be a day or more before the adjuster is able to speak to the claimant to get full details about what took […]

Game-changing new ISO ClaimSearch® innovations will transform claims analytics

With a growing industrywide emphasis on financial performance, the speed and accuracy of claims decisions are more critical than ever to operational efficiency, customer retention, and your bottom line. But while data to support swift and smart decision making is abundant, most adjustors struggle with the challenge of assessing and deploying that data with precision. […]

Build a better claims department: Meeting the operational efficiency challenge

With claims costing insurance carriers more than $246 billion in 2015, claims department are under scrutiny. Operational inefficiencies must be minimized to mitigate costs and help improve your company’s bottom line. Although claims departments have lagged behind in terms of technology adoption, that’s changing as insurers view claims process optimization as one key to staying […]

Blockchain, IoT, and Streamlined Claim Handling

At the Uniglobal Insurance Claims Management Conference, I heard a lot of doom and gloom about the future of claim handling—and the future of the insurance industry in general. New business models are poised to enter the market and disrupt—an ongoing theme. And the plethora of data available—in conjunction with predictive analytics—could greatly reduce the […]

Blockchain, Smart Contracts, and Index Triggers: Count the Frictional Costs As They Disappear

Is the insurance industry watching developments in blockchain technology? Some of our folks in the market are, but it’s pretty clear to me that the focus is the other way around. The blockchain community has its eye on insurance and is bringing plenty of potentially disruptive ideas. And smart contracts are at the top of the […]