Are you looking to streamline your claims processing while protecting profitability and pleasing your customers? Have you examined your level of data sophistication? It’s the key to greater operational efficiency and customer service. That’s especially important when it comes to total loss claims, which, as we know, tend to challenge customer service scores.

How do you do it?

You start by figuring out how sophisticated your organization is in settling total losses, ranging from very manual processes through increasing levels of automated processing (fast track and virtual claims) to the eventual “touchless” claims processing. If you’re like most carriers, your claims processing practices generally tend to be at a specific point along this continuum interwoven with various levels of sophistication, but you may use a mix of styles depending on the claim. Our 2019 Future of Claims Study pinpoints that carriers and consumers are looking to accelerate the claims processing journey toward more automated and virtual styles.

Your next step to greater data sophistication is knowing where you are today ― or the extent to which you’ve unlocked the transformational power of data by integrating it into your claims automation journey. Data sophistication extends from the first level― where you’re using online resources but still gathering data a non-uniform and reactive way― to the fifth and final touchless-claims processing level, where data is strategically integrated and proactively gathered.

We know fully touchless claims is highly aspirational, but we also know that Level 4 is attainable and is in production by carriers today. At Level 4, data is integrated into your claims management system more thoughtfully. Adjusters have access to real-time data with the click of a button. Processes are structured and uniform across the claims department.

Level 4 promotes streamlined, consistent, and effective processes that are driven by data. At Level 4, adjuster efficiency and productivity can increase significantly. Customer satisfaction improves because claims are processed faster without the need for customers to answer many questions or provide input. While the adjuster still decides to bring the data into the infrastructure, automation plays a crucial role in how the data is delivered and managed.

You can get to Level 4. And it can make a big difference in your business.

For more details, including a real-life scenario that shows the difference data sophistication can make when processing a total loss, please read our eBook, Improving the Total Loss Claim Process with Data.