Vehicle built data combined with real-time records from telematics streamlines the claims process for insurers and customers.

Fremont, CA: Insurers are finding new and creative ways to take advantage of the power of data, automation, and digital innovation. Here are five technologies that will reinvent the claims processing experience and enhance customer experiences:

Image Recognition

Artificial intelligence (AI) and machine learning are implemented in the automotive insurance sector for faster claims through computers that analyze images and access vehicle damage. It is also being trained to give an estimation according to the analysis.

Telematics

Telematics is a small device that monitors GPS location, tracks the speed and mileage of the driver. All vital data points are accessible and available to insurers at the time of an accident. Vehicle built data combined with real-time records from telematics streamlines the claims process for insurers and customers.

Electronic Claims Payments

Real-time electronic claims payments allow faster payouts by enabling payments to be carried out via emails and texts. Customers can transfer the money to their account in just a few clicks.

Real-Time FNOL Online

Intelligent FNOL apps allow customers to report claims seamlessly with a few clicks. The apps have real-time data integration and image recognition abilities that auto-fill the fields on the claims form. This helps minimize the task on the customers to answer a number of questions and increases self-service adoption.

Real-Time Data Integration

Gathering information is automated as real-time data is integrated throughout vital customer touchpoints. Claims processing has also become faster with quick access to an accurate data pool, identifying potential fraud and high-risk cases. It also accelerates total loss claim settlements in just a few days since all the data needed is available in real-time.

Check out: Top Claims Processing and Management Solution Companies