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The Surprising Simplicity of Upgrading Your Claims Process

“Virtual Claims Collaboration is merely taking those already necessary steps and minimizing obsolete components...saving roughly 49% of the claims processing cost and a 23% reduction in travel costs”

Claims Process

The claims process is the backbone of the insurance industry. As such, most companies put a lot of thought into the methods and workflow that make up their processes. However, once a satisfactory system is in place, it can be very tempting to assume these solutions are permanent and eternal, never losing their efficiency or cost effectiveness.

The fallacy here of course is that, with time, depreciation is inevitable. Surely the insurance industry amongst all others knows that axiom well. But it’s not only physical matter and properties that erode over time. Methods and solutions that once kept profit at a maximum can wilt away just as quickly in the face of new technology.

This hesitance is understandable. Upgrading can lead to temporary lag as employees are trained in new workflows, and mistakes can be made in the transition. But here’s the catch:

With the right tools, upgrading your claims process doesn’t have to be hard.

“...On average, Livegenic services result in a 2.4x Return-On-Investment in the first year. Typically, it only takes 1-2 days to implement Livegenic in your business, and only 1-2 hours of training per adjuster...”

Collaboration has always been a part of the claims process, we’re simply evolving how that process plays out. Adjusters already have to inspect damage by inspecting, documenting, measuring, and taking photos. Now they can do it from the office, saving roughly 49% of the claims processing cost and a 23% reduction in travel costs. Virtual Claims Collaboration is merely taking those already necessary steps and minimizing obsolete vestigial components.

The process is not only simple, but you’ll see cost benefits right out of the gate. We operate on two maxims: Ease of use, and reduction of labor. On average, Livegenic services result in a 2.4x Return-On-Investment in the first year. Typically, it only takes 1-2 days to implement Livegenic in your business, and only 1-2 hours of training per adjuster. Quickly, you’ll see how simple the process is, and the savings will start to add up from Claim #1.

How can insurers streamline the claims process? With the Livegenic suite of virtual tools: Removing redundant procedures, amplifying capabilities for essential steps, and giving more power to adjuster and consumer alike. Why continue to commit to thousands of miles of travel and the costs that come with it every year, merely to get your adjuster’s eyeballs in the same room as the claims site? How many of your claims are simple enough that your adjusters could estimate them remotely with just a few minutes of live video?

All of our tools are designed with ease of use and transition in mind. We’re aware that different companies and departments will have different needs; as such, we’ve developed our platform to be versatile enough to support almost any configuration requirement. Our suite of tools has both browser and app-based options to provide a seamless communication connection between adjuster and policyholder. Our digital hub is the perfect hub to communicate, document, and store data all in one single location.

Change can be intimidating, but Livegenic makes it easy. And with standard savings (like 3.5x reduction in claims cycle time and 32% increase in adjuster efficiency), considered, along with the ease of use, it’s clear how Livegenic can boost your bottom line in a jif.

See how easy it is to use Livegenic and how we can benefit your business and bottom line. Request a demo today

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