An On-Ramp To Digital Auto Claims (Insurance Thought Leadership )

An On-Ramp To Digital Auto Claims

Monday, January 9th, 2023 Auto Technology

The insurance industry has long sought a solution to address the lengthy and costly delay between the time of accidents and the notification of a claim, also known as FNOL (first notice of loss).

Successful integration of crash detection into claims automation efforts has gone unrealized because of difficult technical challenges, lack of innovation and existing solutions that hinder adoption.

Fortunately, there are technologies being introduced into the market that are game-changing, because they offer a combination of low-cost software-as-a-service (SaaS) models, smartphone scalability, artificial intelligence, intelligent crash data and reliable crash detection at all speeds, including slow ones.

In fact, new crash detection technologies could more aptly be referred to as FNOI (first notice of incident), in which a crash alert is made on a near immediate basis.

The auto insurance claims industry has long been attempting to transform the existing claims processing model, which is a highly complex, manual, paper-based and labor-intensive process that is not consistently meeting expectations. No one is happy with this model, from the boardroom to the policyholder.

Claims Pages Staff Writers are dedicated professionals covering a broad spectrum of insurance topics, including auto, catastrophe, education & training, fraud, legislation, liability, life & health, litigation, property, risk management, technology, underwriting, and workers' compensation. With over 25 years of distribution, our publication brings you accurate and timely information to keep you informed and ahead in the claims industry.

External References & Further Reading

Mid-America Catastrophe ServicesMid-America Catastrophe ServicesSupportive Insurance ServicesChurchill Claims Services

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