Posted by Andrew on April 13, 2020
So long as policyholders are up to date on their insurance, their coverage remains in effect. However, with the novel coronavirus, business as usual has taken on a drastically different meaning. Processing insurance claims requires greater connectivity and technological solutions than ever given the social distancing protocols recommended by the CDC.
Mobile apps and online dashboard are nothing new for many insurance providers. However, few are fully equipped to manage the entire claims process through the customer’s smartphone uploads. While touchless claims have been gaining in popularity, it’s been slow to implement for many carriers. Facing the realities of social distancing, many insurance providers are going to need to play catch up to allow customers to submit claims in a timely manner as well as receive fair compensation.
Some examples of how to implement virtual claims include:
For smaller claims, it’s possible that the customer can provide the appropriate photo or video documentation to assess the claim, identify the appropriate vendors or service providers to address any damages, and pay out applicable settlements.
Many insurers are taking steps to help relieve the pressure COVID-19 has put on many individuals and businesses. Some examples of the steps they’ve taken include:
Policyholders have high expectations of their insurance providers. A bad claims experience can lose customers, particularly during an already difficult time. Contact the experts at Actec to learn how we can help your insurance business improve claims management.