“An ounce of prevention is worth a pound of cure.” - Benjamin Franklin
Despite all precautions, accidents will find a way to happen. Insurance is a safeguard in those situations where disaster couldn’t be prevented: a life raft to help gather the broken pieces and put things back together.
But what if the insurers themselves don’t have all the necessary tools when the unpredictable happens?
The recent winter disaster in Texas is a textbook example of why every insurance carrier needs a virtual collaboration solution - with more than 750,000 claims predicted to come in the form of burst pipes, vehicle damage, and power outages. To add to that, many loss sites weren’t even accessible, adding even more time and costs to the process.
Remote claims processing tools provide a tremendous benefit in these catastrophic circumstances. When waiting days to physically inspect a claim can exacerbate existing damages, the ability to remotely triage the severity of the loss and make an informed decision on how to proceed can be a difference of thousands of dollars.
Virtual collaboration is no longer the future: it is the now.
Prior to the Texas disaster, the global Covid pandemic was already pushing many adjusters away from claims sites - and with good reason: During CAT events, IA and contractor rates can spike as high as 500% due to travel restrictions and limited adjuster availability. Some providers have even attempted to create ad-hoc systems using free video apps like Facetime, risking security/privacy, and without the ability to properly record and save data. In the wake of Texas, even FEMA has been turning to remote damage assessments.
The benefits of using Livegenic in these scenarios are clear:
- Triage and identify high-priority claims via preliminary data gathering
- Accurately assign IAs, remediation specialists, and contractors
- Significantly reduce cycle time for minor losses
- Reduce field adjuster workload during high-loss events
- Save time and reduce travel expenses
- Increase satisfaction by engaging customers early in the claims process
- Access to built-in tools like Augmented Reality Measurements
It’s an easy process: The policyholder receives a link from their adjuster, and can use it to collaborate in real time with their adjuster within seconds. All recorded content is automatically submitted to the claim file and securely stored on the Livegenic Web Platform. This simplifies the claims process, saves time, and minimizes administrative overhead. Moreover, during high loss events the accelerated cycle time helps keep the massive surge of claims manageable for both customers and carriers.
Waiting longer only costs money, time, and business - it's time to empower your adjusters and policyholders. It’s time to switch to Livegenic.