Physical Damage Auto Claims

In today’s claims environment, a physical damage claim is not handled solely by the adjuster. Rather, it is passed along a lengthy line of multiple parties inside and outside the claims organization. Staff and third parties, including tow companies, rental agencies, salvors, parts suppliers, other insurers, and glass companies, make up this “extended enterprise,” which consists of all the individuals that need to collaborate at some point during the process of settling a claim. With so many handlers involved, how do managers promote efficiency throughout the varying stages of the claim?

When it comes to improving performance management, increased communication during the claims process is instrumental in raising efficiency levels. Because reductions in cycle time and loss adjustment expense (LAE) are dependent upon moving the claim quickly, a miscommunication that slows down the process may be costly. How does a claims manager prevent increased settlement time or reduced accuracy from a missed connection point with field staff or a third party? The answer resides within the underlying platform that supports an insurer’s physical damage workflow. With the right set of support tools, an insurer can easily share information across the extended enterprise, thereby accelerating the claims process significantly and ensuring that customers are delivered the best possible outcome, increasing satisfaction.