At the time of a claim, the insured checks and evaluates whether the promise at the time of contracting the insurance is fulfilled. Attending and supporting insurers at the time of a claim is one of the golden opportunities for it to demonstrate its value and the quality of its services.
Improving and strengthening the claims care process is essential for an insurance company to achieve a good NPS (Net promoting score), which translates into an indicator of customer satisfaction.
What is Claimstech?
In simple words, it is a technology that is applied to the management of claims.
The life period of a claim for insurers is roughly summarized as:
- Occurrence of the incident.
- Incident notification.
- Claim validation.
- Compensation for damage.
Now we share some examples of how technology can be used in some moments of the life of a claim.
- Occurrence of a Loss: Technology can be used to mitigate the likelihood of a Loss occurring. Examples of this can be in the car industry with the use of telematics or telemetry to measure driving habits and that the driver can reduce his risk of accidents, as well as avoiding theft thanks to an alert with indications where there is a high incidence criminal.
Some functionalities are the measurement of driving habits such as the use of cell phones at the wheel, speeding, braking, acceleration, among others.
In the case of the home industry, the technology can be used to inspect more frequently and without incurring costs for insurers since it is normal for an inspector to be used to verify the prevention and safety measures of the premises (fire extinguishers, signaling , etc).
- Incident notification: this stage is one of the most important moments in the life of a claim. Traditionally notifying the unfortunate event was done directly to the insurer through the insurance agent or by telephone, but this technology allows many improvements of the phase:
As a starting point, the technology allows the claim to be automatically identified, even without it being the responsibility of the insured to report it. Some examples that we share with you are:
In the auto industry, if a driver is not in a position to call for help, the technology automatically detects a severe accident and instantly notifies whoever is configured in the system (manager or insurer).
In the field of health, accidents, major medical expenses and life, devices such as smart watches can detect various situations that require medical attention such as blood pressure problems or cardiac arrest.
In the case of Claimstech for real estate, the Internet of Things (IoT) has a great participation and importance since it allows among its multiple functions, to automatically detect when there is the presence of smoke, excess humidity, among others.
If detection is manual, technology can also facilitate the notification process. Such is the case of Claimstech Adjustment in the car industry, which is a company that offers an API (application programming interface), with which any insurer can “uberize” the claim in a few clicks, that is, requesting the adjuster from any application or web and see in real time your journey until reaching the incident.
The use of chatbots has also stood out to receive and attend claims notifications. With the appearance of tools such as WhatsApp and Facebook Messenger, this solution has become very popular and accessible to any company.
Do you want to find out more about the subject? You cannot miss the second part of the article, which will be in our news section in the next few days.