Speed matters | Insurance professionals understand the stressful nature of the claims process for customers and how it can disrupt their daily routine. Shrinking the amount of time necessary to bring the process to a conclusion allows customers to move on and get back to their lives. A digital approach complete with real-time reconciliation and tracking also lets all parties monitor payment status during each step of the process, which can reduce operational overhead and improve satisfaction. For insurance companies, this transparency can translate to lower costs and less time to get funds to the customer. (Credit: jamesteohart/Shutterstock) (Credit: jamesteohart/Shutterstock)

Hurricanes inflicted a record amount of damage on the Atlantic coast in 2017, with flooding becoming an increasing danger with each new year in places like Houston. Wildfires wiped out unprecedented swathes of California in 2018, and the fires have returned this year along with power blackouts to avoid yet more fires.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Claims Technology
Commercial Lines
Personal Lines
Technology Implementation