The ‘Low Hanging Fruit’ For Claims Innovation

Collecting high-resolution images, making it easy to report a loss, and integrating the service providers into the claims process are claims innovations carriers need to bring in if they are not already, InsurTech North speakers suggested last week.

‘Make it very easy to report a claim. That’s sort of table stakes,’ said Kevin Reilley, CEO of Atlanta-based software vendor Westhill Global, during Claims, The 800 Pound Gorilla ââéČ‘ Ripe for Tech, a panel discussion at MSA Research’s InsurTech North virtual conference.

‘If you can buy coverage quickly, you don’t expect really long claims processes,’ said Deb Zawisza, vice president of research and consulting at Novarica.

Moderator Laviva Mazhar, Montreal-based Investment Associate with Luge Capital, asked how carriers can use claims to differentiate themselves.

If the carrier is giving the claimant updates automatically so the claimant knows what step is next and they know they are being taken care of, the claimant would tend to perceive that their carrier is on top of the claim, suggested Reilley.

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