3 Ways an Electronic Claims Service May Speed Up Settlements
3 Ways An Electronic Claims Service May Speed Up Settlements
An insurance agent or adjuster will need to access claim information to process and settle a claim. Necessary documentation ranges from an individual estimate and report of damage to data on similar claims and job costs. Learn more about three ways in which an electronic claims service may speed up an insurance claim settlement.
1. View Estimates As Soon As Possible
After a local franchise responds to a call with an on-site inspection and provides a verbal briefing, damage mitigation and restoration professionals will calculate an estimate. A one-stop shop such as SERVPRO can account for the costs of the complete job. Companies that only provide mitigation or restoration services will issue separate estimates, which may slow down claim settlement. The franchise will upload a comprehensive estimate to an internal system, and the documentation will be made available to insurance representatives on the Claims Information Center.
2. Access Claim Information and Updates at Any Time
Once an individual estimate is posted on an electronic claims service, insurance agents and adjusters can gain access to this information at any time. The availability of documentation necessary to process an insurance claim may reduce delays due to communication. Insurers can keep track of updates through the same service.
3. Search Comparison Data
An electronic claims service can also function as a research resource. Collected data about types of claims, causes of loss, job file costs and information enables an insurer to compare the performance of a franchise to other locations across the region or nationwide to make sure an estimate is reasonable.
An electronic claims service can help an insurance agent and adjuster process and settle insurance claims for damage at a commercial property in Murphy, NC. Insurance companies and clients should work with SERVPRO, a company that maintains this type of service, to ensure that insurance representatives always have access to important information.