The Insurance Adjusting Industry has come a long way since the idea of “insurance” was created. Some say this dates back to when ancient Chinese farmers shipped their goods down the Yangtze River to market in 20 different boats, instead of just one, to disrupt the odds of losing all their goods to robbers or rapids—spreading the risk, right? Since then, we’ve come into more sophisticated scenarios and more complicated procedures, but don’t be fooled—up until 10 years ago we were doing most of our work on the same material those ancient Chinese did: Paper. Of course, the material was revolutionary when the Han Dynasty invented it in 100 BC, but for 21st-century insurance adjusting, not so much.
Customer interaction and involvement in the claims process is a new key focus in our industry, and 470 Claims has utilized the latest technology to surpass the expectations this trend has brought with it. We have embraced advancements in handheld video and voice communication technology and have heavily utilized these advances to streamline the claim process with the Insured and the Carrier—ensuring all parties involved are on the same page. Business intelligence and data visualization have also greatly improved our ability to proactively modify our processes and workflows. Without these tools, we would be forced to make myopic decisions based on historical events, rather than seeing the real issues before they arise.
At 470 Claims, we’re serious about finding and developing innovative solutions to claims management and that’s why we’ve made the commitment to set ourselves apart as the leading firm in our industry. We’re thrilled to announce we are welcoming Lee Boyd into the Fourseventy family as our Vice President of Product Innovation to lead this charge and take us into the new decade of technology advancements.
Lee brings over a decade of experience to our team and comes from a long line of Insurance Professionals— In fact, you could say innovation and insurance runs in his blood. After founding his own company in 2001 he left to follow in the footsteps of his Grandfather, Father and Uncle and joined the insurance industry in 2005. Ever since jumping into the industry, he has never stopped challenging himself and has taken roles as a Claims Adjuster, Examiner, TPA, Fast Path Adjuster, Claims Supervisor, Field Manager, and Catastrophe Account Director— Needless to say, he will be a tremendous asset to 470 Claims’ commitment to maximizing our technologies and being on the forefront of the insurance technology revolution. In fact, that’s exactly why we created this new role.
IAs can be a sort of “Lone Ranger” in our industry, which can feed into the deterioration of their work and success—without a support system around you, there’s little to keep you on top of your game. You see, Fourseventy realized that our IA’s can only be as good as we set them up to be. 470 Claims has been on the forefront of providing resources for our Adjusters, but now, in 2017, we are dedicating our efforts and resources toward providing our Adjusters the support and training they need to exceed our standard of excellence.
At Fourseventy Claim Management, our work is built upon three key pillars: Speed, Accuracy and Control. We believe that for your claims process to be truly successful, these three factors must be present or claims are at risk for mediocrity. 470 is dedicated to providing industry-leading service and with these principles fueling our work, the end result is consistent and unmatched excellence.
Why Speed, Accuracy and Control? Well, from our 200+ years of combined experience in the field, we have learned these factors are the motor that keeps a company exceeding expectations and taking care of its clients and customers. Each integrates with the others, though—if you lack one, then the others break down. Let us explain.