Each year, there are more than 6 million motor vehicle accidents, with nearly 2 million involving injuries. These claims can be more complex and costly for auto adjusters because they involve medical treatment and potential litigation. That’s why it’s critical for adjusters to get all the facts about the accident and gather as much information as possible about the third-party claimant involved in the loss.
Fortunately, there are efficient ways for adjusters to quickly find claimant details they need to make informed decisions about a claim.
Gather insights from policy information
When an insured is involved in an auto accident in which the claimant is injured, it’s crucial to contact the third party as quickly as possible to gather details about the loss and find essential information, including their insurance coverage. But gathering that information isn’t easy.
Claim professionals usually get a police report on the accident, but that can take weeks. Plus, police reports may lack critical details such as the claimant’s insurance information or other personal details needed to get a complete understanding of the claimant’s conditions.
Supplemental data reports that provide third-party policy insights can be valuable for these situations. These reports not only provide entity information such as phone number, email, and address to help adjusters contact claimants, they also include policy details so adjusters understand the claimant’s coverage and carrier information to help expedite the claim process. This information can be invaluable when determining if the claimant has coverage for their medical treatment as well as other aspects that may directly impact the reserving process.
Enhance entity resolution and investigations
It’s also important to verify parties involved in an accident are who they portray themselves to be. Gathering entity attributes is a critical aspect of claim review and can help adjusters determine whether a claim is meritorious or requires further investigation.
For example, you can look to confirm a person’s identity and gather more details on them through an Advanced Basic Search in Decision Net. This information not only helps you confirm you have the Joe Smith who was involved in the accident, it also can reveal critical details such as family members/associates or financial stress indicators that may be pertinent to your claim review and investigation.
A single source rarely provides the adjuster or investigator with all the details needed. The information you gather from the report can also help you get better loss history report results in ISO ClaimSearch or lead you to further investigate the claimant through a more robust and targeted social media search or other reports that provide more entity details.
Fast, accurate claim review
Getting more details on claimants is not only critical to entity resolution and expediting claim review, but it also serves as the first line of defense against potential claims fraud by uncovering suspicious information about a claimant.
The faster and easier you can access this information, the more you can shorten cycle times or improve the SIU referral process. Decision Net makes it easy to gather critical entity details by accessing valuable supplemental data reports—such as the Policy Insights Report and Advanced Basic Search—right in your claim workflow.