Claim Central Consolidated raising the bar for innovation
Over the past 12 months, the insurance industry has been forced to adjust to fast and necessary changes. The challenges that COVID-19 had brought forward to disrupt the industry gave companies opportunities to adapt using new technologies and operations. Challenges like lockdowns, travel restrictions, lack of face-to-face meetings and general uncertainty have brought some companies to a standstill, whereas some excelled through their innovative practices.
Insurance Business asked companies to share the visionary initiatives they’ve successfully launched over the past year. The efforts put forth by the 22 winning 5-Star Insurance Innovators offer a glimpse into insurance’s newest frontiers.
Claim Central Consolidated has been listed on Insurance Business’ 5-Star Insurance Innovators list for 2021, as a company that has faced the challenges presented by the current environment head on with innovation. Engineering innovative ways around to continue growing as a business.
Claim Central’s Innovation
Claim Central’s property division introduced Virtual Inspections as a Service (VIaaS). This innovation involves our remote desktop assessors digitally connecting directly with policyholders to inspect and assess their claims, using live video streaming and collaboration platform, Livegenic.
VIaaS allows teams to virtually inspect claims without the need for time-consuming onsite visits – saving time and effort for assessors while also protecting customers through social distancing. Instead, customers remotely connect with a desktop assessor to document the claim via Wilbur Live, allowing the assessor to provide real-time guidance as the customer live streams the damage.
Additionally, customers can easily upload documents and reports, digitally sign documents, and make excess payments – all through their smartphones.
Results during 2020, 2021 included:
- Reduction of the average cycle time from claim decision to receiving excess and signed scope of works.
- 9% of all inspection reports are submitted the same or next day of assessment
- 23/10 average customer satisfaction score on live video collaboration inspections.
- 5hr average travel time saving per inspection to and from the insured.
- 17% reduction in report submission lifecycle.
To read the full article and view the full list of companies, visit: 5-Star Insurance Innovators
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