four for the week – vol 3

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Welcome to our third edition of Four For the Week (44TW)! In our first edition, we discussed ideas to weather these challenging times. In our second edition, we presented thoughts on leading through this transition. We continue in this third edition on how to explore opportunities in a post-pandemic world.

 

1) Opportunity for Re-Invention - A Maestro Without
Borders

Strategy & Innovation

Ven Shanmugam, President & COO

The news of different parts of the country re-opening is certainly positive. While there will still be some challenges to overcome in the short-term, many have now started to think of the opportunities that lie ahead in a post-pandemic world. This period presents an opportunity for us to potentially re-think and approach the market in a different way. This concept of doing the opposite of the traditional model is captured eloquently in the Blue Ocean Strategy.

And it is even more beautifully illustrated by the case of classical violinist and conductor Andre Rieu. Classical music mostly has a niche audience, while most others enjoyed other mainstream forms of music. Mr.Rieu was interested in taking classical music more mainstream. And to do so, he needed to re-invent how it was delivered, not just as music but as an experience. He took note of the unique aspects of the traditional orchestra experience, and designed a model that mirrored the opposite. The result was fascinating as Mr.Rieu became one of the highest grossing musicians, across all genres. 

 

2) Triage & claim assignment in the post-corona world.

Decisioning & Outcomes

Claimatic Team

Undoubtably, claim triage has been on the top of every claims department manager’s mind over the last few weeks. From “How do we extend and enhance our virtual adjusting capabilities?” to “How do we actually, effectively DO virtual adjusting?”, the questions are no doubt being asked in (virtual) boardrooms across the world.

While not directly COVID-19 related, our friends at IAS Claim Services have given us a good level-set on how to look at triage and assignment and how it relates to the P&C claims process. Its a great mental exercise for baselining, and then beefing up your triage processes, and for expanding your assignment capabilities utilizing Claimatic. (cheeky, we know) We’d suggest you have a read.



3) Built in Boston: How 5 Companies Adapted their Businesses to COVID-19

What’s Now & Next

Denis Connolly, VP, Corporate Development

We’ve all seen how companies nationwide have been forced to react to new situations in these unprecedented times, but many companies are using this period as an opportunity to make permanent improvements to their business and cultural strategies. Built in Boston has an interesting article that talks about how businesses in their area are reacting to these changes, and how they are making their plans for the future, including our good friends over at Duck Creek. From integrating more work from home and virtual meetings for day to day ops, to a greater reliance on apps and technology, these companies are rolling with the changes and identifying the ones they think they’ll stick with long term.

4) Resources for Fitness & Conditioning

Technology & Connectedness

Claimatic Team

Our international friends at AXA Insurance this week invited Andreas Kornmayer, the Head of Fitness & Conditioning from Liverpool Football Club (Soccer) in the UK to demonstrate in LFC Home Workouts how to improve your core strength with a Swiss Ball as we continue to #stayhome during this ongoing pandemic. #KnowYouCan AXA is #OfficialTrainingKitPartner of Liverpool FC

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.

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