The insurance industry has experienced dramatic transformations in recent years, and with this, the methods used for claims processing and adjustments have also followed suit. Mobile technologies in particular have been especially transformative in this space; with their integration into the insurance workflow, mobile allows third-party insurance administrators (TPAs) to streamline the activities of field adjusters, resulting in improved efficiency, optimized operations, and ultimately enhanced levels of customer satisfaction.
In this article, we’ll explore how TPAs can empower field adjusters with mobile technologies for carrying out their tasks faster, more easily, and more accurately than ever before.
Transformations through Mobile Technology
With the advent of smartphones and tablets, field adjusters have all the tools at their disposal for streamlining their respective claims processes and boosting productivity in other insurance claims-related activities. TPAs can leverage a claims management system equipped with a mobile option that gives adjusters access to crucial information, data capturing capabilities, taking photos, and even communicating in real-time with insurance companies and policyholders, all while on-site at the claim location.
Real-Time Data Access and Communication
By adopting a claim management system, TPAs provide field adjusters with real-time access to critical data and information. This includes policy details, customer information, and claims history. Having access to this data while in the field helps adjusters make informed decisions and ensures accuracy in their assessments.
Real-time communication is a game-changer in the insurance industry. TPAs enable field adjusters to communicate with insurance company representatives, underwriters, and even claimants instantly. This ensures quick decision-making and minimizes misunderstandings, leading to faster claims resolution.
Photo and Document Management
Capturing visual evidence is a fundamental part of claim processing, an activity that claims management systems and TPA-focused software solutions have dramatically streamlined in recent years. For example, TPAs can equip field adjusters with mobile tools for taking photos, videos and managing documents; these tools often integrate with the mobile app and allow adjusters to snap pictures of damage, attach them to the claim file, and document their findings with ease.
GPS and Mapping Integration
Mobile technologies that accompany claim management systems leverage GPS and mapping capabilities that allow field adjusters to pinpoint the exact location of a loss. This not only saves time but also ensures that adjusters reach the correct location swiftly, preventing any further inconvenience to the claimant. TPAs that empower field adjusters with a claims management system’s mobile offering can also augment their insurance claim processes with geospatial intelligence; for example, an updated geospatial image may show incident details previously unnoticed (e.g., minuscule signs of property damage, subtle environmental indicators) and adjust claims details and coverage plans accordingly.
Electronic Signature Capability
TPAs that adopt claims management platforms with a mobile option give field adjusters the capability of obtaining electronic signatures from policyholders during claim assessments, in real-time. This feature enhances the efficiency of the process and eliminates the need for paper documents, which can be prone to errors and delays.
Compliance and Regulatory Adherence
Insurance regulations and compliance requirements can be complex and difficult to track, with severe consequences for non-adherence and failures. A recent report by the National Association of Insurance Commissioners (NAIC) revealed that 1,474 financial and market conduct exams were conducted by insurance departments in 2021 for the roughly 6,000 domestic insurers in the United States at that time. This translates to 25% of all carriers subject to an exam and states bringing in over $208 million in fines and penalties.
TPAs assist field adjusters by integrating compliance checks and regulatory guidelines directly into their mobile apps. This ensures that all assessments and claims are in line with the industry's legal standards.
The Advantages of Leveraging Mobile Technology
The integration of mobile technology in the workflow of field adjusters offers numerous benefits, including the following key advantages:
Efficiency, Accuracy, and Productivity
Field adjusters can complete their assessments more efficiently with mobile technology. Data can be entered, uploaded, and transmitted in real-time, reducing the need for manual data entry and repetitive paperwork.
Reduced/Elimination of Human Errors
Manual processes are prone to errors, which can lead to disputes and delays. Mobile technology reduces these errors by automating data capture and ensuring consistency in assessments.
Enhanced Customer Experience
By adopting an insurance playbook that integrates mobile technologies as a key strategy, insurance carriers and TPAs can accomplish basic to advanced customer service functions at any point in the claims lifecycle, For example, TPAs can tap into the continuous situational awareness that mobile technologies provide to answer policyholders' questions and concerns on the spot, demonstrating a commitment to professionalism and customer satisfaction.
Streamlined Insurance Workflows
Mobile technologies streamline the entire claims process and workflow, from the field to the insurance company, enabling faster decision-making and claims processing/approvals, policy administration tasks, and overall decision-making.
Improvement to the Bottom Line
At the end of the day, mobile technologies introduce efficiencies and improvements that translate to cost savings for field adjusters (e.g., reducing adjuster revisits) and TPAs (e.g., saved time and energy in correcting field data collection errors); with these improvements at the adjuster and TPA level, insurance companies can better focus on underwriting and creating new, innovative insurance products. By reducing the time required for each claim, insurance companies can lower operational costs while maintaining or improving the quality of service.
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