How Technology can be used to Handle Unpaid Insurance Claims

    0
    39

    The insurance industry is gradually developing innovations favorable to any customer who may need unpaid insurance claim help. One method, which is starting to become more popular, is automation. Automation can take some of the burdens off insurance companies by handling tasks such as calling potential claimants and following up on cases.

    Caller ID

    One method is the use of Caller ID. This is when a potential caller can review the nature of their call before they make it. For example, if you are a person who has had an accident and your insurance company is calling you, then you will know it is a legitimate call before answering the phone. Since these automated systems have become more sophisticated, some will even leave messages for claimants with information about how to receive their benefits.

    Notification System

    A notification system uses algorithms to analyze the data of an insurance claim. The system can notify insurers and customers if something seems amiss with the claims. One example is when a driver has been involved in an accident and then calls their insurer to let them know they will be late. Since the systems can detect a pattern with these types of calls, they can send out notifications regarding these issues so that both parties know what needs to be done.

    Claims Assessors

    Claims assessors are often in charge of contacting customers and ensuring their claims are handled correctly. For example, there could be an issue where a customer claimed medical expenses for a first-time car accident but then went back and made the same claim for another minor injury later that same year. Since the assessor can review previous claims, they will be aware of these issues and could notify the insurance provider to make a proper resolution.

    Payment Manager

    Payment Managers are usually in charge of handling payments for customers who have made a claim. Having these people handle these tasks has helped many insurance companies save money on their staff, which helps keep costs down for consumers. They will also manage communications with customers and ensure that payments are being handled appropriately. If payment is not handled correctly, the Insurance Company can go after the customer by filing a lawsuit or charging them late fees.

    Insurance App

    There are many mobile applications that can also help with the claims process. These types of programs can be helpful for customers who want to submit payment themselves, rather than having an assessor do it on their behalf. The apps may even help when an assessor is unavailable, such as on the weekend or at night. It is also a way for customers to receive updates about their claims and how the insurance company is handling them.

    Analytics

    Insurance companies use analytics to review customer behavior and their odds of making a claim. It is difficult for them to determine which customers are at a higher risk of claiming, so they may look at people’s habits, such as how often they use their car, how many miles they drive, etc. This information can help them predict who will make claims and which ones are more likely to be fraudulent.

    Technology is helping to make the claims process much easier and less stressful for insurance companies and consumers alike. Because of these advances, new advancements have been made in almost every facet of the industry, from automated systems to pay managers to analytics.