A crisis occurs and we panic.
Flood, storm, tornado, you name it—our gut reaction is to crumble into the fetal position and worry about our future. When we finally garner the energy to file that insurance claim, we’re met by the carrier’s system.
For the insurance side of things—this is the opportunity to provide a helping hand. How can you help the person get the help they need?
On today’s episode of FNO: InsureTech, we are joined by Dan Moore—the SVP Head of Operations of QBE—to discuss what role technology and human labor plays during this pivotal moment.
Tune in to this episode to hear Dan’s insights about insuretech to have a more holistic understanding of the space.
The FNO: Tips
- Improvements to the claims process can be anywhere from first notice of loss to conclusion of the claim
- Most people in the claims world began as adjusters and worked their way up that ladder
- insuretech solutions should bring technology to better the emotional experience of claims
- Engagement is more important than duration in a claims process
- When you keep the customer informed, you are able to manage expectations which lowers stress levels
- Understand that everyone from the VC to startup will have a different definition of insuretech
- Some current technologies changing the claims space: smartphones, photo capture, drones, and AI
- A team must be able to pilot experiments and pivot with the often conflicting data that initially comes in
- Most insuretech companies have more of a technology-focused background than that of insurance
- Watch out for consolidation of companies across capabilities
Fourseventy Claim Management