climate change. Whether it’s temperature,
floods or other volatility, the focus of
claims must turn from simply dealing
with claims to: “What can I do to mitigate
or prevent claims arising from an act of
God? If a flood is imminent, what can I
tell auto policyholders that may preclude
damage to a car?” Rather than just being
better at handling claims, I see the role of
insurance companies changing to be one
of loss prevention. Everything else can be
mitigated with the technology we have on
OneShield Software delivers core
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services industry, deployed in the
cloud or on premise. Our portfolio
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include enterprise class policy
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has 48 products in production
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How is your business model
changing to meet the needs of
a new generation of workers,
while continuing to serve the
needs of your clients?
Data suggest workers now have shorter
tenures with employers. That said, they
are technologically savvy. So, here is
a generation that may be more career
transient, but is comfortable and versed
with technology. This is a major change
in demographics. This means our
software user interfaces can no longer
be designed the same way. They must be
more intelligent and automate the client
experience where possible — after doing
“X,” you must do “Y.”
At the same time, we are using machine
learning to capture methods and workflows
of experts within claims departments. We
can see what steps improve processes and
time in production. We can also create
systems that detect anomalies in a claim,
based on answers to questions experts
would ask. The point is to help people
make better decisions, do whatever you
can to make experts more efficient, and
improve the performance and uniformity
of the claims process.
What do you see as the greatest
challenge the claims industry
will face in the next five
years and how is the industry
addressing this issue?
Claim incidents arise in three ways.
First, there are acts of God.
Second is where people do reckless things
or exercise bad judgment, such as harassing
a coworker or driving out of control.
And third are bad judgments that are just a
fact of life … someone will accidently cause
bodily harm in an unexpected situation.
Of the three, the greatest challenge facing
claim departments is acts of God driven by
What key digital trends are
most impacting insurance
claims departments and how?
I see four dimensions.
The first is the instantaneous nature of
communication today. With mobile
phones universally available that allow us
to text, email, and send photos or video
immediately after a claim incident, we are
seeing a seismic shift in how a claim is not
only started but serviced in its lifecycle.
Second is the ease with which your location
can be determined, allowing insurers to
respond quickly with the nearest repair
shop or towing company.
Third, static devices can monitor air
quality, heat or how fast you are driving,
warning both insurer and insured of risks.
Fourth, dynamic devices, such as drones,
can investigate where humans cannot go.
The impact of these trends not only
increases the speed at which data is coming
to claims departments, it’s the realization
this is the speed customers now expect.
Just as we can transfer money anywhere in
seconds, we now expect the same response
speed from our insurance company.
Executive Vice President &
Chief Technology Officer