The importance of claims technology

We have entered a new era of claims management with rapid advancements in technology, digitisation of the claims ecosystem and changing customer preferences.

As claims technology evolves and grows more sophisticated, the insurance industry needs to stay up to date on the latest tools and technologies that can help them manage their claims effectively.

Chief claims officers and senior claims managers should be familiar with the benefits of claims technologies that are available, so they can make informed decisions about procuring them for their company.

Ultimately, everyone involved in the claims process stands to benefit from today’s advancements in claims technology and should also be aware of the benefits of claims technology and how to maximise its value.

The importance of claims technology

The insurance industry is constantly changing and evolving, and with that comes the need for innovative technology solutions.

Claims management is one of the most critical aspects of the insurance industry, and industry players must have the right technology to handle these operations effectively and efficiently.

What types of claims technology does Claim Central use?

To maximise Claim Central Property’s efficiency in claims handling, we optimise several technologies. This includes two-way virtual collaboration tools, end-to-end claim management tools and digital quoting and onsite tools.

Two-way virtual collaboration tool

Claim Central Property’s virtual collaboration tool gives our business the flexibility to overcome challenges with managing claims and ensure the best outcome for our customers. Regardless of the claim volume, location and damage type.

Livegenic is the tool that allows Claim Central to provide both our customers and team a shared workspace accessible from any device through its browser-based solutions. As a result, it’s easy to collaborate on projects with live video streaming, offline photo capture, digital document signing and real-time payments ensuring all stakeholders are kept up to date without waiting for emails or phone calls.

End-to-end claims management tool

Claim Central Property utilises an end-to-end claims management tool to manage our claims from triage to the completion of repairs. Through this technology, we unite all parties connecting the right people at the right time.

This technology also provides a central location for all administration, claim documentation, claim notes, supplier interactions and invoices amongst others. Providing a property assessing and repair service to the insurance industry without an effective claims management tool would be nearly impossible.

Digital scoping and quoting tool

Claim Central Property has introduced a seamless digital scoping and quoting technology for our assessing team to submit reports and quotes directly from the site. This means real-time report submissions, increased quality and accuracy of reports, and most importantly a shorter lifecycle of claims with earlier commencement of repairs to customers’ properties.

Without this technology, report submissions can take over a week or more for complex claims. Since introducing the technology, on average we have assessments being completed, submitted and approved all in one day, onsite and realtime at assessment.

Interested in learning more about accessing Claim Central Property’s assess and repair service? Click here.

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.