Low-touch claims are typically suitable for cases involving minor damages that can be easily evaluated through digital evidence such as photos, eliminating the need for an on-site adjuster to physically inspect the property. Credit: Nataliia/Adobe Stock
Processing insurance claims has historically required careful assessment and analysis by a human to determine the extent of the damage, the validity of the claim and the appropriate compensation. This means a significant amount of time and effort, often leading to delays and frustrations for both the insurer and the policyholder.
Unsurprisingly, insurers are constantly seeking ways to improve the efficiency and accuracy of the claims process, as it directly impacts their bottom line and customer retention. The need for quick and accurate assessments is becoming increasingly crucial to customer satisfaction. In 2022, over one-quarter of policyholders switched providers, with the main driver being faster claims processes.
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