Surge hits second wave: are insurers prepared?
A recent survey carried out by Intelligent Insurer among more than 300 insurance executives showed that “serving our customers and meeting their needs” was the number one challenge for insurance and claims companies during the COVID lockdown.
With the first lockdown over and restrictions easing around the world, are insurers better prepared for a second wave? What if it coincides with surge events?
Anecdotal evidence, as well as our own (eviid’s) usage stats, shows that, to ensure continuity of service, claims handlers used technology wherever they could to help policyholders with urgent claims during periods of strict social distancing and travel bans – by capturing evidence remotely and by using video calls.
For example, while the volume of claims dropped significantly at the beginning of lockdown in the UK, by June the numbers of claims handled on our platform were up almost 25% compared to pre-COVID levels.
And that’s just our figures. Many more claims professionals will have used less fit-for-purpose, but readily available tools like video conferencing software, FaceTime, WhatsApp or simply files e-mailed by the policyholder. The downsides of relying on these become apparent very quickly: What do you do with the files, where are they stored? How do you verify the content? Do you record calls or not? How secure is this? How compliant is this? How do we share them securely on to the supply chain?
eviid has an answer for all of these questions, as well as a proven track-record in Insurance. Whether you are an insurer preparing for another lockdown, an upcoming surge season or a challenging combination of both, it has never been easier to put the right technology in place.
Over the last few weeks, we have accelerated the development of browser-based eviid calling. Currently in beta testing with two major claims companies, it gives handlers easy & quick access to eviid technology via an instant livestream, without having to ask the policyholder to download an app or use a specific device – meaning minimum customer effort & increased customer satisfaction/retention.
It’s the fastest and easiest way of initiating secure, evidential, recorded video calls to quickly see and capture the scope of a claim – while taking both the hassle and the risk out of handling, filing and sharing the resulting footage. Contact us to find out more.
Claims handling via video – the advantages
eviid offers a broad range of capabilities for claims - Immediate use cases and advantages in surge and/or lockdown scenarios are:
- Insurers who use recorded live video for quick remote triage at FNOL will make better use of loss adjusters available if they are required – offering pay out within hours in some cases - providing highly responsive and personal support to policy holders.
- Where appropriate, the whole loss adjusting process can be carried out remotely via video – ensuring claims are processed and resolved quickly even if resources are stretched or when there is no way of physically travelling to the site.
- For many insurers, remote scoping via video is already a vital tool during surges. In the context of COVID-19, it is almost impossible to imagine the industry coping without.
- This is not just about social distancing and travel restrictions further limiting resources. It’s about a customer base that, more than ever, needs fast and reassuring help quickly.
Get in touch to find out how we can help!