Using InsurTech to improve claims management – Jenean Meier

Technology is providing new ways for insurers to meet customers’ needs. By combining technologies such as artificial intelligence and machine learning with advanced analytics, carriers can reimagine the claims quality audit process.

If insurance coverages were umbrellas, they would remain furled in closets until a claim was filed. While their availability for use would be reassuring to all members of the household, they would sit idly while waiting to spring into action.

It can also be said claims is the point at which an insurance policy and the coverage contained within manifests its value. Until then, an insurance contract is a promise to be present following an insurable event.

Typically when insureds file claims, they rarely involve their brokers to advocate on their behalf. This is a missed opportunity. They should count on brokers to help manage claims quickly, efficiently and intelligently. Insureds also rely upon carriers to honor claims within the terms and conditions of the policy in a timely manner, with the least possible amount of friction.

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Download this article: Claims_Mgmt – July 2018

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