Tools of the insurance trade

We live in a time of great uncertainty, from increased terrorist activity around the world to major weather-related catastrophes. Moreover, we live during a period of vast technological advancement where artificial intelligence (AI) can predict inclement weather before it happens based on historical weather patterns, and drones are taking to the skies to lend a hand in evaluating loss.

Technology is essentially helping to reshape the claims workflow.

This is apparent from the moment a claim is filed to the estimate and final decision. There is a new wave of technology and apps designed for insurers, and some created with the intention of managing the claims workflow. Unfortunately, insurers have been slow to adapt to emerging technologies.

There is however, a growing number of insurtech startups like Lemonade, bringing new practices to the age-old business. This has been mostly in the form of innovations like apps and solutions for insurers to have in their toolkit. Many of these solutions are even mutually beneficial, and have the potential to make the job of adjusters easier — and reduce claims wait times for policyholders.

The biggest beneficiaries involved in the process, however, are adjusters.

Let’s explore nine tech tools and apps, perfect for assisting claims adjusters in doing their job more effectively, efficiently and ultimately, speeding up the claims process.