A wet floor sign sits on top of a towel on the floor of a mall. If it's possible to settle a claim during the first call, it encourages customers to return to the store, boosts their satisfaction and prevents the claim from developing further. (Credit: Shutterstock)

For retailers, customer claims frequency is high but complexity is low. The most common types of claims – slip, trip or fall; struck by; struck against; and inhalation, ingestion or absorption – all typically settle for less than $1,000. This presents an ideal scenario for retailers to leverage a fast-track adjudication approach. Moreover, customers' demands continue to evolve, requiring quick resolution from retailers for consumers with little patience for a time-consuming investigation. If it's possible to settle a claim during the first call, it encourages customers to return to the store, boosts their satisfaction and prevents the claim from developing further.

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Commercial Lines
Claims Technology
Corporate Risk