2020’s Top InsurTech Trends for Property Adjusters and Claims Professionals
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There is no doubt COVID-19 has made a big impact on day to day operations, especially in claims processing. Also, COVID-19 has only made responding to natural disasters more difficult. Today there is a lot of anxiety for both adjusters and policyholders. All this presents enormous challenges for insurance professionals juggling with the pressure to work remotely and the need to be onsite and collect all the necessary information to process claims effectively and meet the needs of their customers.
Technology may have the answer as many new solutions are coming to market to assist insurance professionals in safely and efficiently continue operations. In this article, we will explain 5 top trends in 2020 for using insurance software to digitally adjust claims.
- Claims Management Software
- Remote Inspection Technology
- Digital Scheduling Tools
- Big Data
- Applications on the Cloud
It’s a fact that COVID-19 has changed the way customers want/need to interact with services organization from restaurants to healthcare to insurance. The new reality we all live in demands new methods of engagement that are increasingly mobile. Collecting claim information via mobile applications is now a core requirement. It is no longer “good enough” for claims management software to simply organize information for Adjusters. It needs to be a completely new mobile platform for communication and data gathering that can simply and securely assist both adjusters AND policyholders.
Some insurance companies choose standardized claims management software packages like Symbility or Xactimate which attempt to reduce the time and effort of processing claims via mobile conferencing and photos. Other companies like RD Global have taken this concept of mobility even further by creating a 100% SaaS and PaaS in one product. In addition RD Global, itself a software consulting company has deep enterprise software development skills and can link new mobile platforms into existing systems for full end to end integration.
When a new claim is filed, it is important to connect with the policyholder as soon as possible. However, these days that might be difficult. In addition to routine claim questions, there is now an additional layer of complexity related to COVID-19 with questions around exposure and comfort levels of claims adjusters inside a residence. Luckily new technologies are enhancing the capabilities for adjusters and in many instances, claims can be processed with no onsite visit.
Today companies are searching for the right digital platform for the right audience. Each platform can have different methods to sign on, mute the mic, take screen control, etc. This is not intuitive for all or even practical for most. Rather than leave important customer touchpoints to chance, adjusters can take control and drive meetings with customers after a couple of simple instructions are given. Adjustify allows claims accountants to take control, avoid wasted time and embarrassing drops. Adjustify is a video conferencing platform designed with common sense scheduling tools and simple instructions.
- View real-time accepted invitations – know the customer has the app downloaded and is ready to go!
- View real-time mobile connection status – with video diagnostic tools understand connection strengths to stop dropping calls!
- Reschedule if needed – Adjustify allows inspectors and customers to reschedule remote inspections, and notifies everyone if something changes with an inspection time!
Maintaining customer satisfaction and gathering critical data are two of the most important features offered by Adjustify. As detailed above an easy and solid connection platform with simple instructions is critical with claims executives, especially today. Second, only to that is gathering rich, point-specific data for processing claims and making important policy decisions. Adjustify is not only a communications platform but also a detailed data gathering tool complete with AR functionality. Realtime photo, video, audio, and precise measurement all at the claims executive’s control and direction. Leave nothing to chance. These calls are too important.
When using these platforms, the last thing you want to worry about is cost. Cost in terms of seats, licenses, users, CALS, ELAs, gigs, or megabytes per second. Connections with policyholders are the rare moments where an insurance company can showcase their true mission statement. “Nationwide is on your side.” “Like a good neighbor State Farm is there.” “You’re in good hands.” Adjustify takes this cost anxiety off the table with a simple cost per claim SaaS model. One low cost of $12 per claim where you can work on, add to, modify, edit, encrypt, copy, and send and save the same claim again and again. It’s all included in one hyper-low cost per claim.
COVID-19 has left no industry or market untouched. As a result, customer demand for new engagement models has only accelerated and become more critical to corporate success. This is especially true for the Insurance industry where policyholders face never before seen uncertainty. Now more than ever customers need to know that “they are in good hands” with their insurance company and/or agent. Adjustify keeps those bonds with policyholders intact and allows for an increased customer understanding through data.