Four for the week – vol 25

Welcome to our twenty-fifth 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 response to Hurricane Laura, auto insurance during COVID-19, and the California fires. We close it out this week with an article on Fall 2020 virtual conferences. Enjoy!

1. A Digital Response to Hurricane Laura

Strategy & Innovation

Claimatic Team

We all knew when COVID-19 hit that the claims business would have to evolve to accommodate social distancing. A survey from Allstate in June found that 25% of customers felt uncomfortable meeting contractors and insurance adjusters. During Hurricane Laura, insurers took advantage of aerial imagery to identify uninhabitable homes and reached out to policyholders before they were even able to return home. This increase in aerial imagery could be the start to a new age in the insurance industry.

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2. Auto Insurance during COVID-19

Technology & Preparedness

Claimatic Team

All spectrums of insurance have been impacted by the pandemic, but the area that has been impacted the most has been auto insurance. With a complete lockdown in March, followed by a majority of people working from home for the foreseeable future, some cars go weeks without being used. As a result, there have been increased levels of discounting and refunds.  With the evolving impacts of the pandemic, Deloitte has made recommendations to help auto insurers to weather the storm.

3. California Fires 

Strategy & Innovation

Claimatic Team

These images from the Napa fires are bleak but it is starting to become a familiar scene as wildfires continue to burn across California. More than 70,000 residents have been ordered to evacuate as of Sunday (September 27).  The Glass Fire exploded in size, burning 42,560 acres on Tuesday, impacting at least 80 buildings and wineries. With the wildfire season still in full effect, California has already had 5 of the top 6 wildfires in California history this season.

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4. Fall 2020 Conferences

Technology & Preparedness

Ven Shanmugam, President & COO

COVID-19 has forced some changes in approach for conferences this fall, but the good news is that many chances remain to connect and learn. There are currently 20 virtual conferences available from now until the end of the year. These cover a wide variety of topics in all spectrums of insurance ranging from Insurance technology, process innovation, marketing and many more. There is bound to be a topic for everyone.

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