“Claims are a linear process. They move from A-Z, but they don’t always take the same path to get there.” – John Hall
(click to tweet)
If you spend any time in the insurance world, you’re bound to hear the sentiment that a vehicle claim is distinctly different than a property claim. But is this true?
It turns out that while a property claim has more information to fill in, there are still the same questions being asked. The customization of a property is no different than the drilling down to what part needs fixing inside a vehicle.
That’s why on today’s episode of FNO: InsureTech, we are joined by John Hall, President at Audit Services Inc. to discuss how claims fit into the auto insuretech space, where we see technology driving their position, and why they are no different than property claims.
Tune in to this episode to hear John’s insights, so you can speak both the languages of property and auto claims.
“As more and more things become automated—those claims that are an exception to the automation process need to go somewhere.” – John Hall
(click to tweet)
The FNO: Tips
- Even with all the technologic automation, there still exists the need for human labor
- In automobiles, innovation yields safer cars but higher costs to repair
- Studies show that a new auto technology takes 30-40 years to make its way through the fleet of U.S. vehicles
- In general, rate of change is slower than people think
- Contrary to popular belief, most vehicles accidents occur in the city (not the highway)
- Understand that the average home loss is small
- Many carriers are prioritizing automation over accuracy
- The most successful carrier partnerships are the ones born early in the process
- Follow up with all parts of your workflow to find where the gaps are
- There will always be a need for in-person claim adjustment
Fourseventy Claim Management