UNDERWRITING AND CLAIMS damage assessments , fraud detection , coverage validation , liability determination and total loss evaluation among others . These advancements streamline the claims process lifecycle , reducing time and effort .”
The importance of digital cloud platforms As well as embracing new technologies , insurance companies have to overhaul the way they do business if they ’ re to remain relevant . This requires substantial cultural change , and a willingness to transform that cascades down right from the top . After all , there is little point embracing AI in one area of your business – like customer service – if you ’ re still dependent on incredibly old-fashioned , manual processes elsewhere .
Insurers are beginning to understand the value of cloud-based platforms where customers can make a claim , upload supporting documents and provide information that assists their claim . The entire claims journey , from FNOL onwards , happens in one single ecosystem and removes the convoluted paper trail that previously took place through email or fax . In turn , insurers are able to provide customers with a quicker and more seamless claims experience .
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