3 ways insurers can expedite the claims process
Carriers have access to a variety of tools that will shorten the time needed for claims inspections and reduce the risk of fraud.
For homeowners, claims satisfaction is at a five-year low. Why? Slow and complicated processes have dragged out the time to repair. It takes roughly 18 days for carriers to review the damage and pay for repairs — a three-day jump from last year.
Slow claims processing is more than an inconvenience. It’s the number two reason for customer complaints. To keep insureds happy, carriers need ways to expedite the claims process.
One solution: use app-free video tech to remotely assess property damage. Sending in-person adjusters can be costly and time-consuming. However, with the right software, adjusters can virtually guide insureds through damage assessments and verify claims details.
Here are three ways insurers can use video tech to shorten the claims timeline.
- Use app-free video tech to remotely assess damage
Consider homeowners who had a tree fall on their home during a storm. After they submit their first notice of loss (FNOL), they’ll have to wait for an adjuster to arrive on site — which could be a matter of days or weeks.
If they’re working with a tech-forward carrier, the homeowner might be able to submit photos of the damage through their claims portal. However, self-service photos don’t always capture the right information, like if the tree damaged any siding or cracked any windows. Without a full view of the damage, an adjuster may still have to visit, which extends the claims process.
App-free video software speeds things up. With video tech, adjusters can remotely assess damage and more quickly serve insureds. Here’s what the process looks like:
- After receiving an insured’s FNOL, an adjuster sends them a video call link via SMS — no app download necessary.
- Over video, the insureds use a smartphone to show the adjuster the full scope of the damage. The adjuster can instruct them to show certain areas and perspectives as needed.
- The adjuster can use on-screen markup tools to take screenshots and circle key areas of interest. All the insureds have to do is hold up their phone.
How does this expedite the claims process? With remote inspections, the adjuster saves travel time to reach insureds faster. Because the adjuster can take screenshots in-call, there’s no need to review customer photos. Instead, they can capture the right information upfront to ensure an accurate damage assessment.
- Use remote visual inspections to boost adjusters’ capacity
Insurance adjusters receive around 50 to 100 new claims a month. They might not have the time to immediately investigate every claim — especially after a natural disaster.
Back in 2017, for example, Hurricanes Harvey and Irma flooded carriers with so many new claims that they had to call in independent adjusters from around the country. After Hurricane Ian this year, homeowners are expecting to wait for months to get an adjuster on site.
Carriers need tools to improve adjusters’ capacity. Remote video software can help.
With video-based damage assessments, adjusters don’t have to travel from site to site, which is key when there’s a surge in claims. They can use the time they save to quickly reach more insureds and reserve on-site visits for insureds with extensive or unusual property damage.
- Use reporting tools to reduce your fraud risk
In addition to speeding up damage assessments, app-free video tech can help prevent fraud.
Fraudulent claims are a costly headache for carriers, costing non-health insurers over $40 billion per year. The Coalition Against Insurance Fraud says that insurance fraud across the U.S. costs $308.6 billion annually. As a result, many carriers take a slow and deliberate approach to prevent fraud during the claims process.
Video tools can help verify claims details and reduce the risk of fraud. The key: a full-service platform with reporting tools that provide the information insurers need.
Make sure your visual inspection software can output an editable report that includes:
- Time-stamped interactions. This proves when the remote inspection took place.
- Geo-tagged images. This provides visual and location-based proof of loss. With linked coordinates, you can even cross-check the location in Google Maps.
- Notes taken during the inspection process. This serves as a reference for any on-the-spot estimates or points of concern.
With reporting tools, you can keep a record of every remote inspection. The right software may even integrate into your claims management software — a huge boost to your back-end efficiency.
Many carriers have already digitized a large portion of the claims process, but damage inspections are still largely done in person. A mix of digital and physical touchpoints leaves insureds unhappy: they’re 47 points less satisfied than those with all-digital interactions.
With app-free visual inspection software in your toolkit, you can fully digitize your claims process. A bonus benefit? Video-first inspections can help you reduce carbon emissions throughout your value chain — a make-or-break matter for 76% of consumers. The takeaway: Use video tools to quickly process claims and leave insureds happy.
Rama Sreenivasan is cofounder and CEO of Blitzz, a live, remote video support and inspection platform. Sreenivasan has led the company through its initial inception, launch, and subsequent growth to several million video support minutes per month. Contact him at contact@blitzz.co.
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