Four for the week – vol 23

Welcome to our twenty-third edition of Four For the Week (44TW)! To look through past editions, feel free to view our blog. This week we look at the digital tipping point, five cyclones in the Atlantic, and creativity in insurance. We close it out this week with an article on being the insurance Netflix, not a Blockbuster. Enjoy!

1. A Digital Tipping Point

Strategy & Innovation

Claimatic Team

A year ago, not many people would have predicted that a majority of businesses would switch to work from home and work completely digitally. COVID-19 created a “digital tipping point” for companies to transform into the modern age. This is especially true in insurance, a conservative industry known for slow adaption. The world may never be the same after this year, but the companies going through a digital transformation will be setting themselves up for success in the future.

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2. Five Cyclones In the Atlantic

Technology & Preparedness

Claimatic Team

Creativity might not be limited to artists. New reports suggest that creativity in insurance holds value among investors. The report suggests that in only a year, companies were able to transform their books. The key is making bold, yet strategic moves.

3. Creativity in Insurance

Strategy & Innovation

Claimatic Team

Creativity might not be limited to artists. New reports suggest that creativity in insurance holds value among investors. The report suggests that in only a year, companies were able to transform their books. The key is making bold, yet strategic moves.

4. Being an Insurance Netflix

Technology & Preparedness

Ven Shanmugam, President & COO

We all know the story of Blockbuster, a once booming franchise that went bankrupt because they did not innovate to the new rise of technology. This led to a gap in the market that Netflix was able to corner. “Just as Netflix introduced personalized content discovery to millions of movie buffs and TV fans, insurers can deliver efficient and personalized experiences to their consumers,” (Zuckerman).

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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