Consumers are looking for easier, more convenient ways to meet their needs—whether that be shopping for favorite items, managing bank transactions, or, as we’re seeing more and more, when handling insurance claims. Whether an insured finds himself in an auto accident, a victim of auto theft, or experiences damage to his home from a storm, often his first action is to contact his insurance company as a way to regain a sense of normalcy.
Your policyholder is under a great deal of stress, and needs care and compassion. But, at the same time, you need accurate information collected and timely updates delivered into your claims system. If your claims organization utilizes prefill technology to enhance the claims data this will allow you to deliver a winning customer experience.
In any claim, there are basically three things you need to do right from the start: gather information, analyze that information, and act on that information. Each step in the information gathering process adds time to the claim. With a traditional claims processing approach, an adjuster might have some of this information at hand but will have to put significant effort into gathering missing information.
For example, one carrier had a policyholder who was the victim of a hit and run incident. Unfortunately, the police report obtained by the carrier had no information on the other vehicle. The insured, however, captured video of the other driver’s license plate. After reviewing the video, and using LexisNexis® Claims Datafill, the carrier was able to determine the other vehicle’s registered owner and their insurance carrier.1
So, as you can see by the example above, by integrating data and analytics seamlessly into your workflow at FNOL, you can more quickly progress along the claims processing spectrum toward increased automation—and eventually toward touchless claims processing.
LexisNexis Risk Solutions worked with Digital Insurance to bring you Automating FNOL with Data & Analytics, an informative webinar created to help you learn how data and analytics can drive efficiency from the start and throughout the life of a claim.
In this on-demand webinar viewable below, my colleague Todd Fannin shares insights from the Future of Claims Study; discusses why more data earlier can help decrease claims costs by 25%; and shows how the continued use of traditional claims handling practices is inefficient – placing carriers at a competitive disadvantage.
- Based on customer data