Why Insurtech Wins Out

“Claims is one of the ripe areas (particularly in the short and medium term) for application of technologies.” – Caribou Honig

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There are distinct categories in the world of insurance.

You have the incumbent carriers, the giant Googles and Amazons, and then the niche insurtechs like Hover and Lemonade. How these three species of company interact with each other is the dance we are witnessing today.

That’s why on today’s episode of the FNO: podcast, we are joined by the godfather of insurtech, Caribou Honig. Caribou is one of the cofounders of the prominent conference InsureTech Connect, and brings his expertise of all things related to insurtech—from theorizing about Amazon’s most recent purchase of Ring to understanding how drones have impacted the claims paradigm.

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By Brooks Hill,   Category: Podcast   Comments: None

Welcome to FNO: Podcast

“So often we look at this technology and ask: how are we going to settle these claims quicker and more accurately.”

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People need insurance.

But people don’t need the often outdated systems surrounding traditional insurance systems. This is where Insurtech comes in—the sprouting industry sector that brings robust technologies to improve the sometimes boring, paperwork-filled experience of the insurance world.

We’re talking drones, robots, cameras—those technologies that take what a human can do and multiply it by a thousand, ten-thousand, and even more.

So today, on the FNO: podcast, we are diving deep into the world of Insurtech. In this episode, we unpack the vision of our podcast—how we are going to explore the intersection of insurance technology and claims.

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By Brooks Hill,   Category: Podcast   Comments: None

Leading the Pack

What makes 470 Claims different? Easy: We’re a company dedicated to our people, We’re committed to trailblazing the way for new technologies in our industry, and We keep YOU in control.

You see, we saw long ago that without good people behind your company, failure is inevitable. That’s why we’re continually investing in our people with training for both home office staff and IAs, creating a company culture of excellence. But we don’t just take care of the people inside our company— we take care of you, the 470 Claims extended family. We know you need to be in control of your claims, that’s why we create a partnership of transparency and provide you with real time updates and data. But we are also looking out for your future— We are committed to wading through the flood of new technologies coming into our industry to find what works and what doesn’t so that when the inevitable tech-revolution comes, you already have people on your team that have hit the ground running.

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Paving the Way for YOU.

As an IA, we want you to do what you’re best at: Determining coverage and providing excellent customer service. Yet, thus far in our industry’s history you’ve been tasked with the job of three men. You’ve had to run diagnostic test on equipment, navigate numerous software programs and decipher what can be, cryptic guidelines. We’ve had enough, and we know you have too. That’s why we are committed to trailblazing our way into the new age of claims adjusting.

Fourseventy has committed to being at the forefront of innovation in the next few years, which are set to be some of the most transformational, as our industry goes through what we are deeming a “technology revolution”. Through this exciting transitional time, we are, and will continue, to look for the new processes and tools that champion utility and wade through the flashiness that gets thrown around with the promise of new technology.

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We Get It — No, Really

You may not know this, but the leadership team at Fourseventy has over 200 years of experience in the industry. That’s an impressive average of just over 30 years per person. What does that mean to you? We get it! No, really.  

We get how difficult it can be in the field, we understand the support IA’s need to be successful, and we’ve worked on both the Adjuster and Carrier sides of the claims process. We are by no means just managers that sit behind a desk—we’ve been in the trenches, we know how the game works and we are looking to set the bar higher: attack challenges from an innovative standpoint and create a new standard for Independent Claims Adjusters. Our experience allows us to do just that.

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By Rob Beller,   Category: Adjusters   Comments: None

We Put You in the Fast Lane

Speedy turnaround time is key to meeting policy holder needs and at 470 Claims we have mastered efficient claims management. In fact, we’re delivering cycle times as short as 5 days—that’s days faster than our competitors. How do we do this? We have highly effective processes, technology and dedicated personnel to thank for that. They champion precision every step of the way, allowing us to facilitate a culture of accuracy and getting things done right the first time—a huge time saver. So with 470 Claims you can rest assured that we get right to the point and get you the information you need fast.

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470: No Slackers Allowed

If you don’t have accuracy, you have nothing in our industry. At 470 Claims we pride ourselves on our attention to detail—so you know we’re good for our promises. Our business intelligence provides our Carrier partners with unprecedented information on the status of their claims. With everyone on the same page, we can execute accuracy effortlessly and you can reap the benefits of your claims being done right, the first time. So if you are looking for a partner to exceed your expectations, then you can have confidence that our accuracy will bring success to your partnership with 470 Claims.

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You Can Call Us Techies

Technology is a key driver to the insurance claims industry—at least for companies like Fourseventy Claims, who embrace technology and adapt to its always-changing standards. Today, every aspect of the claims management business revolves around and requires engaging some sort of technology—both old and new. And those who are experienced enough to accurately weigh the risks and benefits of new bleeding edge advancements will be rewarded by setting themselves ahead of the competition. 470 Claims prides itself on being able to expertly navigate new technology trends to be on the brink of each cutting edge process.

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Don’t Give Up the Control

The relationship between Independent Claims Managers and Carriers has not always been seamless—and we don’t want to gloss over that. We use lessons learned from others in the past to fuel our own successful relationships. What have we learned? That Carriers want, and need, to maintain control throughout the claims management process. And though control may just be a feeling, we believe it is the “it factor” that will set us apart from our competitors. By providing useful, in-depth reports and giving Carriers real-time information on their claims, we keep you in the driver’s seat. After all, it’s your claim, just think of us like in-house staff.

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Claims Adjusting: The Business of Peacemaking

We’re in the business of peacemaking. Have you ever thought of it that way? By settling claims and bringing resolve to areas of loss and dispute, adjusters are taking on the role of peacemakers. But as Christopher Tidball, author of Re-Adjusted: 20 Rules to Take Your Claims Organization from Ordinary to Extraordinary!, said, “Matthew tells us that the peacemakers will be called the sons of God; undoubtedly a few of us have been called a “son of” something else entirely. That is why making peace is so difficult. In compromise nobody wins. The only successful means of making peace is to find consensus.”— sound familiar?

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By Rob Beller,   Category: Adjusters   Comments: None