Four for the week – vol 24

Welcome to our twenty-fourth edition of Four For the Week (44TW)! To look through past editions, feel free to view our blog. This week we look at merging technology, enhancing personal lines, and small steps to technology. We close it out this week with an article on the tropical storm beta. Enjoy!

1. Merging Technology

Strategy & Innovation

Claimatic Team

Part of evolving as a business is updating technology practices. Going 100% digital is a daunting task, and not widely accepted within the companies. Instead, Insurance companies can start small by going virtual step by step. Whether it is starting with FNOL or touchless claims, just a small adjustment can lighten the workload for the company while increasing customer satisfaction. Small changes lead to big development.

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2.Enhancing personal lines

Technology & Preparedness

Claimatic Team

A new study from Nationwide highlights insights from consumers and ways that insurance agents can help guide them. With COVID-19, consumers have been looking at their insurance coverage and assessing their policies. Some consumers are taking a closer eye at their coverage, while others look at possible ways to cut costs during this hard time. These insights suggest the need for more communication from agents to consumers, suggesting agents meet with clients on a more regular basis versus a need basis.

3. Small steps to technology

Strategy & Innovation

Claimatic Team

It is not a surprise to hear insurers are moving towards technology to help with processing and communication. New reports since COVID-19 hit, show that insurers have started to invest in collaboration tools, video communication, and messaging software. This ranges from using video inspections to chatbots for consumer communications. Looking at trends in emerging technology is essential for any business to monitor as companies assess where to invest their budget for the next year.

4. Tropical storm Beta

Technology & Preparedness

Ven Shanmugam, President & COO

You know it has been a big storm season when we run out of names! Tropical storm Beta has been raining down all over the south for days now. This has lead to some major flooding and the risk of flash flooding. The peak wind gust was measured at 59 mph.

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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