Four for the week – vol 15

Welcome to our fifteenth edition of Four For the Week (44TW)! To look through past editions, feel free to view our blog. This week we look at strategies for growth and customer retention, twelve habits of exceptional leaders as well as huge reductions in miles driven on our roads. We close it out this week with an article related to a new mobile claims app. Enjoy!

1. Insurance Trends: Strategies For Growth And Customer Retention

Strategy & Innovation

Claimatic Team

By now it’s old news that the insurance industry lags behind many others in the area of technology. However, insurers are quickly getting up to speed by changing to new technologies and partnering with insurtech companies. Retention of customers could still be a challenge in the coming months and years, but I believe that growth and retention will rest heavily on service-based strategies that improve the customer experience.

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2. Twelve Habits Of Exceptional Leaders

Technology & Preparedness

Claimatic Team

Great leadership is indeed a difficult thing to pin down and understand. You know a great leader when you’re working for one, but even they can have a hard time explaining the specifics of what they do that makes their leadership so effective. Great leadership is dynamic; it melds a variety of unique skills into an integrated whole. Below are 12 essential elements of great leadership, which you can follow to help you become a better leader today.

3. Miles driven set to drop with increased work-from-home

Strategy & Innovation

Claimatic Team

During the height of the pandemic in April, Americans sheltering at home drove 64% fewer miles, an unprecedented decline in travel. Those new habits will die hard, with KPMG predicting as much as a 10% permanent reduction of the almost 3 trillion miles typically traveled every year and vehicle ownership declining to slightly less than two cars per household.

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4. Prepare for the virtual home insurance revolution with a mobile claims app

Technology & Preparedness

Claimatic Team 

Prior to the COVID-19 pandemic, home insurance claims apps had little to no traction. At Mobiquity, we saw insurance companies approach this concept in many different ways, but user adoption remained stubbornly low. On average, less than 5% of insured homeowners file a claim each year. And within that small percentage, we see less than 5% of policyholders use the app to file that claim.

Claimatic is the first dedicated decisioning solution for insurance claims routing and assignment for the enterprise. We believe we stand alone in offering the platform, and administrative tools to quickly configure, deploy and manage the routing and assignment of hundreds to hundreds of thousands of claims at once, while supporting the unique processes and rules for your business.

Customers choose us as a partner because we offer the only open, low TCO solution to meet their needs, regardless of Insurance Claims Management software platforms. We work across platforms and enterprise systems, information sources and software languages in use within the enterprise and across our customers’ partner networks. Our technology supports hundreds of factors involved in claim decisioning, thousands of entities involved in claims resolution, and millions of claims cases, all within a single deployment.

Customers who partner with Claimatic acquire significant advantages from working with a company that has focused exclusively on this set of challenges since day one – the product they need, and the results they want— the right resource, assigned to the right claim, at the right time.

Wes Bright, Product Leader