Contact person: Caroline Dobyns
Email address: email@example.com
Contact number: 410-353-5340
The Digital Insurer Startup InsurTech Award
The process of assigning claims to adjusters:
-Is manual, time-consuming, and inconsistent
-Is typically without consideration of adjusters’ proximity, capacity and availability
-Often leads to delays and inefficiencies that result in dissatisfied customers
-Entails unnecessary expense for P&C carriers
At the same time, insurers are reluctant to abandon current technology, process and workflow investments.
As a result, long delays between first notice of loss (FNOL), claims assignment and ultimate resolution can occur, especially during catastrophic events, causing dissatisfied customers and a high policy-turnover rate.
In addition to potentially losing a dissatisfied customer, carriers incur unnecessary expenses if the claim is assigned to an adjuster located at a distance from the claim. Worse, an adjuster without a proper and up-to-date license for the claim can expose a carrier to litigation and resulting expenses.
Claimatic is the first and only automation solution for Claims Assignment that is designed to enhance - not replace - existing technology investments.
Using real-time dynamic data such as location tracking, license management, skill sets, calendar/availability, vendor panel preferences and other data, Claimatic performs the complex task of optimizing thousands of decisions in a fraction of a second, to assign claims to the right resources - removing days from the claim cycle time.
Claimatic’s state-of-the-art, embedded mapping capabilities are also unique to the industry. With breakthrough custom polygonal territories, Claimatic users can create and assign resources to geographic areas that collectively resemble a jigsaw puzzle. Organizing territories in this manner optimizes resource utilization by intelligently considering drive time and natural or man-made barriers that accurately reflect the real-life boundaries and borders of a specific area. In dense PIF (policies in force) areas, this can virtually eliminate the need for route optimization software as adjusters will never have far to go to their next assignment.
Claimatic is exponentially impactful during catastrophic events such as hurricanes or forest fires when insurance claims processes become inundated and require teams of CAT adjusters to be deployed to affected areas for additional support. Enhanced CAT deployment features can quickly assign resources to new territories, while reflecting relevant parameters such as qualifications, availability, and capacity constraints, making it easier than ever to intelligently pre-position adjusters, en masse, throughout a disaster zone.
Claimatic is a bolt-on-brain for claims workflow technology that makes existing systems smarter, more valuable and productive.
-Claimatic is a platform-agnostic plug-in that enhances, not replaces, existing technology investments, and requires no support from client IT organizations after deployment
-Claimatic operates behind the scenes, and has no visible impact on an organization’s existing workflow
-Claims managers continue doing their jobs in the same way, with no loss of productivity due to learning a new system or workflow
-Claims supervisors are able to modify Claimatic’s assignment rules without IT programming support, with visibility into aspects of the claims assignment process that were currently invisible
As a SaaS based service, Claimatic can be deployed and making an impact within 60 to 90 days, and is priced as a convenient and efficient “pay-as-you-to” operating expense service, rather than a standard monolithic software licensing model.
The end result is increasingly better assignment decisions that are more efficient and consistent, with increased customer satisfaction.
-Claimatic can reduce total claims handling expenses by hundreds of dollars per claim
-Claims assignment time can be reduced from man-hours to machine-seconds
-Management and adjusters are able to focus on complex exceptions while leaving the bulk of claims to repeatable, accurate and easily configured RPA assignment
Additional operational improvements include:
-Improved policyholder satisfaction through increased policyholder face-to-face time
-Reduced mileage and vehicular costs
-Reduced litigation potential by ensuring that a licensed adjuster matched to the claim type
-Reduced claims fraud through pattern recognition