32 | MAY 2018 | Claims Magazine | PropertyCasualty360.com
THERE’S A DIFFERENCE BETWEEN HASTE AND SPEED. ONE LEADS
to wasteful mistakes. The other can set a new benchmark for performance and
elevate the customer experience. In auto insurance claims, the right data at the
right time can lead insurers past the pitfalls of haste to the rewards of speed. The
difference is precision, and there’s no faster channel for delivering precise, powerful claims data than telematics.
With traditional claims models, it can be hard for insurers to muster anything
approaching haste, much less speed. The process is passive at the outset. It depends
first on the policyholder — amid the stress that follows an auto accident—to contact the insurer and initiate a claim. This is the first of many steps that include
vehicle inspection, damage estimation, repair and often haggling over liability allocation — a messy, unpredictable progression that can add incrementally to the
customer’s stress and the insurer’s expenses.
AUTOMATING AUTO CLAIMS:
OFFER NEW OPTIONS
By Dawn Mortimer