Welcome to our twentieth edition of Four For the Week (44TW)!To look through past editions, feel free to view our blog. This week we look at insurance carrier claims organizations as they respond to Covid-19 challenges, the impact of California fires in 2020, and U.S. economies readiness for hurricane season. We close it out this week with an article on fire tornados. Enjoy!
Claims organizations respond to Covid-19
Strategy & Innovation
Claimatic Team
Like many industries, insurance carrier claims organizations are having to adjust to the long term implications of Covid-19. Claims leaders are taking swift action to protect customers and employees while maintaining the quality of their services. Each response has been tailored to each line of business, but overall there have been strategic shifts to emerge from the pandemic smarter and stronger.
2. California fires in 2020 – Statistics
Strategy & Innovation
Claimatic Team
California is really taking the heat in 2020. With fire tornados, dry lightning, and wildfires, there are currently 360 fires in California and 6,754 this year. Considering the fire season does not peak until September and October, these are daunting statistics. Governor Newsom has ordered a state of emergency, while 21,000 residents have vacated their homes and over 10,000 acres of land have burned. While the heat forecast has subsided, the risk of blackouts still threatens most of the state.
3. U.S. hurricane readiness
Technology & Preparedness
Claimatic Team
This storm season has been predicted to be one of the largest in history amidst a pandemic. This has raised many logistical questions for claims organizations, cities, and citizens in the soon to effected areas as Laura heads to shore. The companies and cities are having to be more strategic than ever this year. Gone are the days where we could open one giant storm shelter and have everyone pile in. With social distancing, our safest option might be hotels, but at what cost?
4. Fire tornados
Technology & Preparedness
Claimatic Team
The thought of fire tornados might sound apocalyptic, but it seems to align with the rest of the events this year. The “firenado” was recorded in Loyalton California by the National Weather Service. This rare occurrence sparked the first-ever fire tornado warning. There have only been four other firenados recorded in the past 20 years, so each one brings new insights for meteorologists
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
24/7 Support
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