Virtual Inspections for Catastrophic Events in Claims Handling

Insurance professionals have a difficult job in managing claims, especially when Catastrophic events hit. They must provide timely customer feedback while also taking care of their workload. But what if you don’t have all the necessary tools when the next catastrophe hits? One of the best ways to stay ahead is using new tools that an insurtech like Wilbur offers. In particular Virtual Inspections. 

What are Virtual Inspections?

Virtual Inspections require a virtual collaboration platform (like Livegenic) that connects you to your customers and field staff for faster and more accurate inspections with video streaming, real-time assignment management, online payments and much more.

Claim Central’s Virtual Inspections as a Service (VIaaS) enables insurers to secure inspections and damage assessments without the risks, cost and time associated with deploying traditional field adjusting resources, even more so during the COVID-19 crisis.

Why are virtual inspections important for Catastrophe events?

Virtual assessing and inspections provide a tremendous benefit when disaster strikes. Waiting days to inspect a claim physically can frustrate customers and exacerbate existing damages – the ability to remotely triage the severity of the loss and make an informed decision on how to proceed can save you thousands of dollars in claim costs.

Virtual inspections cut out the travel time and free up assessors to complete more assessments in a much quicker timeframe. While also protecting all stakeholders by avoiding physical attendance, especially in the current COVID-19 environment. Virtual inspections can be integrated into your workflow to ensure claims are moving swiftly from day one if assessors cannot physically get to the damaged area.

How do virtual inspections help with claim management?

Virtual inspections help with claims management through the ability to scale and augment your staff during busy times, including catastrophe events. In addition, live assessments create excellent outcomes by expanding your existing coverage, reducing claim lifecycles, reducing average claims costs and granting the ability to provide superior customer experience with real-time interaction and engagement.

Claim Central’s use of Virtual Inspections during CAT events.

Claim Central Consolidated’s property division has integrated virtual inspections into their workflow and has successfully used this method for three years. In addition, a recent case study was undertaken to explore the results of virtual inspections during CAT214. Out of 307 claims that were received, these were their results.

CAT214 Victoria Severe Storms & Floods – 9th-15th of June 2021

Out of 307 Claims using Virtual Inspections:

99.35%

attempted contact made in the first 24 hours

74.27%

successful connection made in the first 24 hours

54.07%

claims triaged and bookings made in the first 24 hours

54

(20%) Virtual Inspections completed

50%

same-day report submissions

17

days (calendar) on average for claims to be lodged, assessed and report submitted.

The use of virtual inspections is one way that Claim Central Consolidated’s property division strives to improve the claims management process for our clients. We’ve found through experience and research that this method can be extremely helpful in many situations, including catastrophe events where there can be significantly high volumes of incoming calls from customers with complicated questions about coverage terms or who need help navigating their claim. But don’t just take our word for it.

Whether you are interested in our virtual inspections services or property assess and repair services, get in touch to explore how we can help you prepare before the next catastrophe event hits.

To get in touch click here

P: 1300 743 673
E: info@claimcentral.com.au

Claim Central responds to the March NSW & QLD flood event of earlier this year.

The once-in-a-century flooding that occurred in New South Wales and Queensland earlier this year in March caused devastating damage throughout both states.

Parts of Australia’s East Coast saw almost one metre of rain, resulting in the storm drain water and river flooding damaging hundreds of homes and cutting off roads. The devastating floods resulted in over 56,000 insurance claims and caused almost 30,000 people to evacuate their homes during the disaster.

The Insurance Council of Australia, which declared the disaster an insurance catastrophe (CAT212), says assessors immediately flocked to the impacted regions to assist in the recovery process.

Claim Central rapidly activated our catastrophe response plan following the East Coast floods. As a result, we were well prepared to assist in the recovery of damage caused by the storm activity over Australia’s East Coast, especially in Port Macquarie, Kempsey and Coffs Harbour.

Our team of frontline staff, property assessors, make safe trades, repair trades, restorers, and engineers were deployed to the affected areas to attend to customers’ properties.

Claim Central deployed additional resources in the most impacted areas to manage the increased volume of claims, including deploying our assessors from across the country. Equipped with leading technology solutions we were able to ensure critical claim information was captured immediately, resulting in excellent service for our clients and customers.  

Claim Central uses virtual collaboration and live streaming technology, Wilbur Live powered by Livegenic, to capture the right information at the right time for every claim. With Wilbur Live we were able to capture the damaged area at the start of a claim journey allowing accurate information to be collected from the beginning of the claim.

Using our catastrophe response plan and our market-leading technologies, Claim Central has produced great results from the 654 claims received. These results included:

  • 2 average days for the policy holder to be contacted once the claim was received
  • 77 average days for the assessor to attend the property
  • 29 average days for our assessor to submit the report
  • 6 average days until the claim decision
  • 53 average days for the claim to be repaired and finalised.


Claim Central are proactive in keeping customers informed at every stage of the claim journey and providing a point of contact for each stage. At the very start of the claim, we set clear expectations with customers and successfully manage those expectations through to final Quality Assurance.

Our great service has seen an average of 9.34/10 customer ratings for all claims handled under the NSW and QLD March 2021 catastrophe flood event.

Claim Central Pty Limited ABN 61 102 685 343 is a Corporate Authorised Representative (AR No. 001291075) of Insurx Pty Ltd ABN 85 628 930 334; AFSL 528534. The information in this article is general in nature and does not take into account the investment objectives, financial situation and particular needs of any particular person. Past performance is not an indicator of future performance. Claim Central Pty Limited and its related bodies corporate make no recommendations as to the merits of any financial product or financial services referred to in this article, its website, emails or its related websites. Before acting on any information in this article, you should consider the appropriateness of it, having regard to your specific financial circumstances and requirements. In particular, you should consider obtaining independent financial, legal, taxation and accounting advice to ascertain whether you should acquire any financial services described in this article.

 

New technology achieving claim approvals from onsite in just one day

Over the past two months Claim Central has introduced a new digital scoping and quoting technology for our assessing team to submit reports and quotes from site. This means faster report submissions, increased quality and accuracy of reports, and most importantly faster commencement of repairs to customers’ properties.

Without this technology, report submission can take anywhere between 1-10 days (or more for complex claims). Since introducing the technology, we have assessments being completed, submitted and approved all in one day, onsite at the time of assessment.



Not only is this technology cutting down our claim lifecycles, it is also giving us the ability to put everything from report, scope and quotes in one central repository – making it is easy for our clients to digest claim details and make a decision on a claim.

Using this technology, we pushed a claim through the entire process – from assessment to final repairs and QA sign off – in just 12 days. The claim was valued at $4,000 and this great result was achieved through the optimisation of our proactive assessing procedure.

 The claim timeline:

  • Lodged – Feb 1st

  • Assessed – Feb 3rd
  • Report submitted – Feb 3rd
  • Client decision – Feb 3rd

  • SOW/excess received – Feb 5th

 

  • Trade allocated – Feb 8th

 

  • Repairs completed in eight days

 

  • Repairs finalised & QA’d – Feb 16th

Claim Central cuts down claims life cycle to exceed a vulnerable customer’s expectation

Claim Central Property provides consistent and quality outcomes for our customers when a property claim transpires. Using our data & insights, speed of process and technology, we can deliver property repairs that exceed our customers’ expectations but most importantly get their lives back to normal as soon as possible.

Engadine NSW Claim – (October 2020)

The damage at this property was a result of storm activity in the south of Sydney. The damage had been caused by water entering through slipped roof tiles above the main bedroom ensuite during a period of heavy rainfall and strong winds.

Claim Central assigned its field assessor and attended the customer’s property one day after the event. The assessor attended site and submitted the report and quote within three days.

The repair was valued at approximately $5000 and three days later was approved and moved into repairs. We promptly allocated our trade partner to complete these works within five days.

The repairs were completed in just three days, resulting in a total lifecycle of 15 days and a very satisfied customer.

“I had just got out of hospital and to have this process completed very stress free, I am very impressed” – Engadine Homeowner.

Claim Central responds to South-East Queensland CAT

On October 31st the suburbs of South-East Queensland were pummelled by a hailstorm that resulted in severe damage to properties across the state.



The Insurance Council of Australia (ICA) reported more than 8,500 claims had been lodged, with estimated insurance losses exceeding $110 million. The hardest-hit suburbs included Springfield, Rosewood, Greenbank, and Boronia Heights, as well as parts of the Sunshine Coast.

Our response was fast and intentional, ensuring the people whose lives were affected could return to normal as soon as possible, by repairing their homes quickly. Most of the damage sustained was to property roofs with re-roofs being the predominant repair.

We activated our CAT Response Plan, which enabled us to get to the focal point of the damaged areas and carry out numerous assessments with speed and care. Through deploying our assessors from interstate into South-East Queensland we were able to submit half of all our assessments in under 10 days of attendance.

Through optimizing on-site project managers, utilising our CAT data insights and engaging our trusted supply chain, 15% of customers’ houses were repaired and ready to be moved into just one month after the event had happened – before Christmas.

One key example was a home in Boronia Heights:

Boronia Heights

  • Days taken to complete repairs: 6
  • Initial SOW: $6,670
  • Customer’s comments: “Was not expecting anything to be done this year, can’t believe how quickly everything was completed.” 

Another great outcome for one of our client’s customers was this major loss claim in Greenbank from the same CAT event, that benefitted greatly from our onsite project manager being able to supervise the repairs down to the last details:

Greenbank

  • Days taken to complete repairs: 18
  • Initial SOW: $74,100
  • Customer’s comments: “I am happy with the works completed and the service provided”

Furthermore, another major loss complex claim located in Chambers Flat was also completed in a timely manner to ensure a very happy customer for our clients:

Chambers Flat

  • Days taken to complete repairs: 60
  • Initial SOW: $114,400
  • Customer’s comments: “10/10 – very satisfied overall, thank you!”
 

Claim Central has repaired hundreds of houses in South-East Queensland since this catastrophic event and is continuing to bring back normality to the affected customers’ lives while ensuring a high standard of quality so that all customers are satisfied with the service provided during this difficult time for them.

We are proud to have an average final service rating of 9.6/10 for all South-East Queensland hail event claims, while also controlling costs through monitoring and maintenance of tarps from initial make safes as rain occurred after the hail had already struck. This was to avoid any further damages and unnecessary variations, which we were able to keep under 6.07%.

Customer testimonials:

10/10

“I was pleased with regular calls and updates.”

9/10

“Very happy”

9/10

“All good. Many thanks to everyone associated with our claim, we are really happy with the outcome.”

10/10

“We have been blown away with the response and level of communication for what was a bad experience with the event. Claim Central have turned it around and made it a good experience for us.”

10/10

“Was not expecting anything to be done this year, can’t believe how quickly everything was completed”

Features comparison – LiveLogik vs Competitors

The LiveLogik platform is the most feature-rich video streaming and collaboration platform available, with features including instant payments, document signing, drone integration, customised reporting, geolocation tracking, API integration and much more.

Quarterly Insurtech Briefing Q4 2019

Willis Towers Watson released its quarterly InsurTech Briefing for Q4 2019 and Claim Central Consolidated have been featured.

“Picking technology, industry players can arm themselves with huge competitive advantages over their peers if they can make the most of the technology and the various vendors that are looking to add significant value into evolving this space for both our industry and the clients we serve.”

To read the full report visit:
https://lnkd.in/gHUnttn

5 secrets to easier claims

Since 2001, Claim Central Consolidated has been a champion of creating easier, faster and cheaper claims outcomes for insurers, brokers and their customers. Here we take the 10,000ft view of what we believe are the 5 key secrets to easier claims.

1. Customer connection is #1


Everybody seems to share the same problems when it comes to insurance claims – lack of visibility, poor communication and very little connection to what’s happening in the claim. All too often, claim staff get so swamped with menial tasks and admin that the customer gets forgotten and frustrated.

The Chartered Insurance Institute (CII) (London), Public Trust Index, 2018, found that the top priorities of insurance customers are:

  • Having a claim settled quickly (76%)
  • Having a claim handled in a respectful manner (71%)
  • Having control over the way a claim is settled (69%)


Trust is the key to a great claim experience and the best way to build trust is through more visibility and better communication to create a more connected claim experience – before, during and after the claim.

Claim Central’s emphasis on building trust through technology has helped Insurx, our TPA claims management business, achieve industry-leading results in 2019 – with a +52 Net Promoter Score for one major client and an 87% home insurance claims satisfaction rating for another – results that have been almost unthinkable up until now.

A few examples of ways you can help your customer to feel in control of their claim:

  • Real-time customer sentiment & feedback – allowing customers to give feedback at every stage of their claim in real-time helps keep the claim on track and pre-emptively mitigates the risk of a poor experience.
  • Customer portal access – allowing customers to see where their claim is at and what the next steps are to finalise the claim. When there is a vacuum of information the customer tends to assume the worst – but by presenting complete transparency they know they have nothing to fear.
  • Keep it quick and simple – allowing the customer to sign and upload documents digitally, make excess payments via their mobile, or connect in real-time via video streaming, are all ways to make the customer’s life easier.

2. Take advantage of technology


Technology alone is not a magic bullet to achieving better claim outcomes – if it’s not based on a strategy of ‘customer-first’ coupled with a strong digital foundation and workflow, you won’t be able to achieve a connected claim experience.

A good example of this is our live video and collaboration platform LiveLogik, which allows claims to be finalised in a fraction of the time of the traditional process. With features such as live video streaming, digital document signing, mobile excess payments, on-screen measurements and drone integration, the first 72 hours of a claim are drastically reduced through real-time connection between the customer and claims manager. By integrating LiveLogik into our workflow and our claims management ecosystem (including ClaimLogik and Hello Claims), and by proactively providing desktop assessing capacity to handle the additional volume of this channel, we are able to take full advantage of LiveLogik’s capabilities. Without this integration into the core digital foundation of the business, the benefits would be greatly reduced.

Some technology innovations to look for in the next twelve months include:

  • AI – utilising predictive analytics pre-event and post-event to reduce losses and cut cycle times
  • Digital workers that far outperform their human counterparts in redundant repeatable tasks
  • VR technology not only at claim time but also for training purposes


3. Take control of your supply chain


Your suppliers are the lifeblood of any claim and taking control of your supply chain through digital channels is a key way to not only improve your claims process, but create scalability also. A few examples include:

  • Competitive tendering – setting up your ecosystem to optimise the tendering process through competition, is a key way to drive down claims cost on both materials and labour.
  • Digital scorecarding – by measuring every interaction between your supplier and the customer, you are better able to track the quality of their work and also their professionalism and customer service. What’s more, by tying scorecard results into your allocation process you can proactively drive better performance through incentivisation.
  • Digital access – allowing trades to participate digitally through the entire claim process not only drives engagement but also improves lifecycles. From initial onboarding, through to online claim tracking, photo & document uploads, live video streaming and invoicing – you make their lives easier which makes your life easier.



4. Generating insights from your data


Over the last couple of years the integration of data models and insights into the claims process has moved from descriptive and diagnostic reporting (which retrospectively tells you what happened and why); to a more predictive and prescriptive model. Predictive analytics helps you anticipate what will happen, while prescriptive analytics helps you to respond effectively to those likely events. So the data analytics journey within claims is evolving from a reactive one to a more proactive one. In essence, we as an industry can put data into the hands of frontline staff who can consume it to determine the best outcomes for customers and clients.

For Claim Central Consolidated, our ability to analyse claims data to identify bottlenecks has seen huge improvements in our long-tail claims reduction. In 2019, through our data analysis, we were able to pinpoint specific pain points in claims greater 60 days and take the appropriate measures – resulting in a reduction of 74% in open long-tail claims over a 3 month period.

An integrated data and analytics strategy can help you to:

• Connect data from multiple sources to create a 360° view of a claim
• Define lead and lag indicators for your key claim KPIs
• Prepare, respond and review catastrophe events through comprehensive weather event monitoring
• Estimate duration targets and cost targets at claim level and segment level
• Plan capacity and utilisation
• Use predictive models to optimise customer, cost and lifecycle outcomes across your claim segments
• Enable early intervention to reduce the impact of ‘off-track’ claims



5. Lifecycle, lifecycle, lifecycle


Like it or not, claim performance outcomes are a direct function of lifecycle. The longer the claim, the greater the cost, the unhappier the customer. As we all know, keeping lifecycle at front of mind is key.

One of the key influencers of total lifecycle is the first 72 hours of a claim when first notification, mitigation and emergency response take place. One of the ways to improve lifecycle at this early stage and get the claim off to a fast start is by using technology that encourages quick and easy interaction between the customer and the repairer or insurer.

Our live video streaming and collaboration platform, LiveLogik, has provided enormous results to our claims performance at Claim Central Consolidated. In 2019 our property repair average time from claim decision to receiving excess and signed scope of works was just 5.5 days (a 68% reduction compared to 17.4 days using traditional methods). Tellingly, 30% of these are received within just 3 hours and 58% within 1 day.

The Future


What will claims look like in 10 years? How much of the claim process will be handled by humans, and how much will be technology-led through robotics and digital workers? How smart will technology be in not only completing processes and tasks, but feeding information into data models to create a continuous loop of improvement?

We’re looking to the next horizon and it’s a lot closer for insurers and brokers than a lot of people think if they are willing to implement a sound digital foundation and a smart workflow methodology. The industry needs to move from a ‘bolt-on’ mentality of piecing together disparate widgets and platforms, to a ‘vision-first’ mentality – starting from the ground up to understand their vision and operational model before integrating the relevant technology to help achieve that vision.


To learn more, please contact:
Matthew Lawrence | Head of Partnerships
mlawrence@claimcentral.com.au
+61 401 063 828

The impact of the Townsville floods – five weeks on

Five weeks since the devastating downpours hit the north Queensland city of Townsville which was classified a catastrophe, the damage has reached $1.02 billion in loss to date. 

Claim Central’s Catastrophe team led by Wade Eilersen, swiftly mobilised to the affected regions the day after the floods hit and assessed claims immediately. This was due to their robust plans for managing sizeable events and catastrophes enabling them to act promptly, and leveraging their long-standing relationships with local trade partners.

With the team receiving a large influx of claims in a short period, they managed the claims end-to-end through Claim Central’s digital claims technology and digital repair fulfilment process, as well as the more traditional loss adjusting services.

Some of the feedback the team received from customers who were affected by the catastrophe has been positive, speaking of the simplicity of the technology they used during the claim process, and empathy of our staff.

One of our customer’s said:

“I was able to look after my baby and sign the contracts through my phone – if I didn’t have this I would have had to run to a printer, printed the documents, signed and sent them back. It would have taken me a while to get these back. This is a great idea.”

Another customer who commented on our service said:

“Claim Central have been so kind – you have no idea what it means to us.”

Our Claim Central team is ready to assist you and your clients with any claims.  For any questions contact Wade Eilersen, General Manager – Loss Adjusting Services & Chartered Loss Adjuster on 0419 820 231 or weilersen@claimcentral.com.au