Insurers probably feel like they have been innovating at warp speed since the onset of the coronavirus. However, the reality is that many had already been upgrading and implementing a host of new technologies over the past several years. The rapid change to an almost completely remote environment has allowed them to utilize their InsurTech in new ways to serve employees and policyholders alike.
When the transition to actively implement a wide range of technologies into the insurance process began, many were concerned about the impact on their jobs. During the Future of Insurance USA event sponsored by Reuters, Lance Ondrej, executive vice president and chief claims officer for Germania Insurance, discussed the impact of technology on insurance claims and the professionals who manage them. He highlighted how technology is being used to identify and solve multiple customer pain points while freeing up adjusters and other claims professionals to provide greater customer service and handle more complex claims.
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