Claimatic
Intelligent Claims Automation
Outsourcing vs. hiring adjusters is a pendulum that tends to swing back and forth in the insurance industry. Over the last year, we’ve seen a trend of carriers reducing reliance on independent adjusting (IA) firms. To fill the gap, they’ve hired and deployed more dedicated CAT response teams or flex adjusters who can manage routine …
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Hotels lament the rise of Airbnb. Taxi companies will never have the same hold on the market they did pre-Uber. Travel agencies took a hit with the adoption of end-to-end booking services like Expedia and Travelocity. Insurance was past due for disruption and is now getting a heavy dose of it. In the last few …
Blog
We have hit the conference circuit heavily this year, primarily with the goal of forging and renewing key customer and partner relationships. The networking has been phenomenal thanks to a strong return to in person events. When we’re not shaking hands and trading business cards, we listen for your voice in the informational sessions, learning …
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Leadership dictated it. Finance justified it. Vendors made on-prem/private cloud options less appealing. However you (or your IT department!) feel about it, you’re moving to the cloud. Fear not! You’ll like the benefits the cloud has to offer—and if you know how your core business applications will port to the cloud, you’ll be miles ahead …
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Historically speaking, when someone mentioned automation in the context of employee attrition they were likely talking about “desirable attrition.” They automated work so that they no longer needed to pay humans to do it, it was deemed to be a positive ROI, and the CFO high-fived everyone in the boardroom after seeing updated projections. In …
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It’s not quite CAT season, but the storm is near. I’m not talking about tornados in the Great Plains, hurricanes on the East Coast, or wildfires in the West. For the insurance industry, the storm is the variability that comes with CAT events and it includes the headwinds carriers face on even the sunniest of …
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Welcome to 2022 and the ongoing Great Resignation! Insurance companies are highly adept at managing risk in their books of business. But working in a people-intensive industry, they are less readily adaptable to the wide-scale operational risks posed by mass attrition. Adjusters are aging out of the workforce; operations teams have grown weary of spending …
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It’s almost the end of the year: everyone has vacation days to burn and most folks are teetering fairly close to the edge of a full mental checkout until 2022. The last thing I want to do is interrupt anyone’s well-orchestrated holiday chaos (managing my own over here), so I’ll end this year on a …
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Let’s talk change. When selecting a new technology, there’s typically a great deal of effort expended in four areas: 1) validation that it fits the core business need, 2) assurance that it will play nicely within the existing ecosystem of systems and tools, 3) alignment of cost to budget, and 4) technical support readiness for …
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Last month we talked through build vs. buy. Judging by the questions that followed, we have more to talk about! If you missed last month, click back to August before you read on as there are some premises covered there that we won’t revisit in this post. This month, we focus specifically on buy. Let’s …
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Your business needs a new solution, and you’re staring down a critical decision: build vs. buy. Successfully moving into the development and innovation realm requires entirely different skillsets than your typical internal IT possesses. Some large carriers have made that shift, but if you’re considering it, be aware of your options and where challenges may …
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Let’s talk tech talent. In the wake of a global pandemic, to say the workforce has shifted is an understatement. Restaurants are paying $15.00 an hour base pay to staff who used to make $2.13 an hour plus tips. Some folks have re-prioritized and are just dropping out. A former colleague of mine quit a …
Tech Talk
The Bots Are Taking Over! Well, kinda. The bots are trying to make heads or tails of your data. There are mature capabilities such as image, voice, and text recognition, but that’s only the fractional edge of what’s possible. Those types of technologies replace a rote human process. That’s valuable, but the real magic happens …
Tech Talk
There is a concept in economic and social sciences called “noise” garnering a lot of attention lately. Simply put, it’s the idea that given the exact same set of facts, two equally qualified people will not make the same decision. It can be proven again and again across professions, and unlike “bias” in which people …
Tech Talk
Proactive CAT Management Handling claim surge is all thanks to the amount of planning and effort put forth before they happen. Some vendors ask for as many claims as possible, but then they commonly find themselves overwhelmed, leading to long lead times and dissatisfied customers. A leading indicator of supply chain issues is “time to …
Tech Talk
Master Data Management As they tend to do, CATs highlight areas of needed improvement in our industry, and the recent winter storm across unprepared areas of the country was no exception. Observing how both carriers and IA firms managed through it left me with a singular phrase echoing in my head: master data management (MDM). …
Tech Talk
Webcast: Implementation Strategies for Claims Automation Updating your business’ legacy systems is a significant investment, but has likely become a priority. Understanding what works well, as well as what issues may need to be addressed to help you transition successfully is key to saving time, money, and minimizing any downtime. Join this complimentary webcast to learn …
Tech Talk
Why Task-Based Co-Assignment is Hard “Can you assign the claim to more than one person for different tasks?” This is one of the top questions Claimatic is asked during early meetings with prospects, and we’re happy to answer that yes, Claimatic absolutely manages that need and manages it well. But it does leave us scratching …
Tech Talk