National Tornado Summit 2016 The Ever-Changing Technology in the Claims Process
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1 National Tornado Summit 2016 The Ever-Changing Technology in the Claims Process Welcome to the future. Connectivity is becoming like Oxygen PropertyCasualty360.com
2 Bruce Vogt Bruce Vogt 25 years in the Insurance restoration industry Certified CE instructor for more than 16 years, Subjects such as: Ethics, Water Damage Restoration, Fire and Smoke Restoration, Mold, Category 3 Black Water, Challenges of Hoarding, Disaster Preparedness and Recovery
3 Bruce Vogt IICRC Certified in Water, Fire, Mold, Odor, Experience with CAT losses such as Hurricane Andrew, Hurricane Katrina, Hurricane Isabel, CAT losses in Canada, Ice storms and others Co- Author of book on Customer Service Marketing by Delight.
4 Learning Objectives Technology Changes with First Party Claim Handling Identify ways that new technology assists claim adjustment processes and procedures Evaluate both the advantages and disadvantages of using new technology Describe ways to implement new technology into existing systems and protocols
5 Presentation Disclaimer In today s presentation, several technology companies will be mentioned. Though other companies may have similar technology available to the claims professional, we want to make it clear that we re not promoting one company over another.
6 Adapting to changing technology in the claims process The times, they are a-changin Especially the technology world. From where we were in the past, to where we are now, and where we might be going in the future
7 Adjusting to the Future History of claims adjusting The Generations of change Technology advances on
8 The Adjusters Tool Bag Dictaphone Polaroid Camera Copies of your estimating form Calculator Legal pad Pens and pencils Maps. List of available public telephones Pager
9 Why Change The Claims handling Process? Change in our civilization and culture Customer experience challenges Generational changes Technology changes and challenges in the field of claims adjusting Retiring adjusters
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11 Estimated insured property losses in U.S.
12 Mergers & acquisitions Decaying infrastructure Sinking cities Emerging Risks Wildfires Ismagilov/Shutterstock Internet of Things Supernatural CATs
13 Legalized marijuana PropertyCasualty360.com
14 Fracking PropertyCasualty360.com
15 Sinking cities PropertyCasualty360.com
16 Natural Disasters AP Photo_National Park Service, File
17 Supernatural CATs Photo: Patricia L. Harman PropertyCasualty360.com
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21 The Future of Insurance Report by Cap Gemini and EFMA World Insurance report Less than 30% of customers globally enjoy positive customers experiences Gen Y age the least satisfied. More than 50% expect enhanced service through digital channels, social media, mobile all through devices. Ironically they still want a human to deal with.
22 Claims Property Casualty 360 Nearly 73% of executive insurer responders say that providing personalized customer experience is one of their top priorities. 50% claim to already see a positive response from investment in technology. 77% respondents agree they re companies will move to real-time platforms.
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26 PropertyCasualty360.com How outsiders see us
27 PropertyCasualty360.com Tools of the Past
28 PropertyCasualty360.com
29 PropertyCasualty360.com Times are Changing
30 Technology Technology is a huge driver of customer satisfaction Approximately 25% insurance professionals are expected to retire in the next 3-5 years Resulting in less experienced adjusters entering the field. PropertyCasualty360.com
31 Strategy Meets Action Study The Impact of Emerging Technologies in Claims. Profiles three technologies with the greatest potential and the lowest risk for deployment in claims- Drones, and aerial imagery (safer claims adjusting and more efficient loss assessment), Artificial Intelligence (customer experience and data intelligence); and the internet of things (risk mitigation). PropertyCasualty360.com
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33 How insurers are using technology PropertyCasualty360.com
34 PropertyCasualty360.com Mobile Technology
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37 PropertyCasualty360.com Livegenic
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45 PropertyCasualty360.com Spike
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51 Drones Drones: The Insurance Industry s Next Game- Changer? Drones hold vast potential for streamlining and reducing the cost of insurance-related processes from claims adjustment and risk-engineering, to postcatastrophe claims settlements for customers, to weeding out fraudulent agricultural claims. PropertyCasualty360.com
52 Drones Using drones, field adjusters would have easy access to remote specialists, such as special investigation unit staff or total-loss professionals, who can view videos and photos that are transmitted in real time by the drones. PropertyCasualty360.com
53 Drones As technology evolves, it will become increasingly vital for companies to adapt to technology advances or risk losing business to more future-focused competitors PropertyCasualty360.com
54 Drones Using drones for research and development at USAA USAA, an insurer with more than 10 million members, was granted two different exemptions earlier this year The company has been researching and developing drone technology since 2010 PropertyCasualty360.com
55 Drones StateFarm, AIG, and Erie Insurance have also been granted exemptions allowing for the testing or use of drones commercially, and many others are interested. PropertyCasualty360.com
56 Drones I honestly think that the technology is going to be so simple that anyone will be able to do it, maybe once you do your Xactimate class and Xactimate certification for a day, and then you spend a half-day doing your drone adjusting certification, property insurance defense attorney Jason Wolf. Claims Journal article The Future of Drone Use in the Insurance Industry PropertyCasualty360.com
57 Drone Risks Negligent pilots Inconsistent regs Poor FAA enforcement Cyber vulnerabilities Privacy infringement Robert Mandel/Shutterstock
58 PropertyCasualty360.com
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61 PropertyCasualty360.com Policyholder Technology
62 Connected devices are transforming industries The modern age is a time of scarce attention span and abundant connectivity. There s an app for that Every sector of the modern economy is impacted by technology.
63 Choosing The Right Technology Challenge 1 Finding technology that addresses the need for ease of use, reliability, and low cost. Challenge 2 Increasing customer satisfaction through integrated experiences enabled by technology. Lower admin burden increases productivity.
64 It s a value-based decision process Technology pervasive and easy to use No longer a need for extensive training to use technology Enables new services and enhances your process.
65 Technology should make your life easier. Getting details from policyholder Signing and sending authorization forms Sharing photos and videos Automated reports
66 Devices, smart phones, Android, iphone. tablets, ipads,
67 Peripherals Increase efficiency and accuracy Connect seamlessly to smartphones and tablets Offer an Integrated experience Ease of use Cost effective
68 Peripherals: Seek Thermal and Flir One
69 Peripherals: Ryobi Phone Works
70 Technology Breaks Down the Divide THE INSURANCE INDUSTRY THE CONNECTED CONSUMER A closed, insular system that is little changed since the 1980s Most new technology is implemented to digitize entrenched norms. DISCONNECT The rise of the Connected Consumer presents new expectations in the market. Control is quickly moving to the connected consumer empowered by technology. They demand self service and automation. OPPORTUNITY: The future of Insurance is the connected consumer By 2020, 90% of all consumers will be connected consumers
71 Handlers/ Desk Adjusters Simplify and Streamline Data Flow Insurance Carrier AUTOMATED DATA FLOW Policyholder Field Adjusters/ Restoration Contractors
72 Shared Information Important claim dates Claims Data Contracts and other documents Photos Notes about the claim Real-time, as it happens
73 A Claim s Virtual Community Property Owner Restoratio n Contractor Property Claim Insuranc e Carrier Claim Data: Photos Contracts Notes Drying Data Franchisor
74 Shared Information Important Claim Dates Photos Contracts and other Documents Notes about the Claim Real time as it happens All Stake holders involved in claim want real time information
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76 Typical Objectives Reduce Cycle Times Transparency Accountability Consistency across all claims to meet the KPI s Real time Data Collection. Integrated with Xactanalysis,.Xaciamate,Symbility Information available to all Stakeholders in a claim. What Else? PropertyCasualty360.com
77 Contractor Claims Management Software Contractor Software is Changing Franchisor Franchisee Client PropertyCasualty360.com
78 Typical Objectives Hitting KPI s is no longer a thing that they only aim for With software now available they can manage the Key Account process through real time Compliance Monitoring at a national level down to the Franchisee level, Automatic reminders and escalation tools allow us to meet and exceed customer expectations. They have a powerful reporting engine that is available to clients and allows them to track these KPIs in real-time and over time and the claim life cycle The reports are customizable and create graphs and charts that are visualized in full color
79 Contractor Claims Management Adjuster can see photos as they are taken. Log into claims, simply keep hitting refresh see the photos as they are uploaded Provide real time information to all Stake holders in the claims process. Carrier, Adjuster, Customer, Contractor, Agent, Others as deemed appropriate Your SLA and Mitigation Protocol can all be scored. The tasks are sequenced and so the contractor must complete a task before they move onto the next task As a Franchisor we get Score card for every contractor on the program.
80 Collaborative Approach
81 Claims Management Collaborative Focus They can close files quicker with higher customer satisfaction because they have tools that allow us them work more closely with you the carrier and others that have an interest in the claim. With links you can update the owner, agent, sub trades, adjusters and field staff to name a few. With the customizable Client Standards they are able to work with you to define and refine the requirements so that you can control cycle times, Severity and Quality.
82 Dates, Claims Tasks, notes, estimate tracking Franchisor Contractor Carrier
83 Compliance, Review & Reports Our real time compliance monitoring provide insight into the work flow process and provides critical information about the work our franchisees perform.
84 Dates, Claims Tasks, Notes and Estimate Tracking Contractor Franchisor
85 Documents Contractor Carrier
86 Contractor Mobile: Real-Time Claims Information File updates as soon as data is entered.
87 Real-Time Drying Information
88 Putting it all together.
89 What s in it for you? Real time access to factual data Less time on administrative tasks Convenience in the field Automated report creation Reduce soft fraud Decrease claim cycle times Increased customer satisfaction
90 Keys to Success Choose the right technology Establish effective processes Reinforce processes with training Keep it simple Clearly articulate the benefits Encourage usage through incentives
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92 The Human Touch Claims adjusting cannot be completely automated. The adjuster will use technology and the customers will use technology. However we still need the person to person contact by the adjuster to estimate, mediate, negotiate and resolve the claim. customers expectations are increasing PropertyCasualty360.com
93 The Rose Customers are traumatized Customers are in experienced Customers are confused Customers don t know their insurance policy Customers may have feeling of guilt, frustration, loss, anger, and other emotions. Thank You for all you do to help them through their trying loss.
94 Questions?
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96 PropertyCasualty360.com
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