Before technology, insurance companies faced many challenges in worker compensation claims. From communication to fraudulent claims to faulty recording efficiency, agents had difficulty recording and interpreting data in real time. Also, a lack of technology meant that customers making claims were up against a case of the client’s word versus their word. There existed no way to ascertain if the accident actually happened or the dynamics leading to the crash. Despite help from accident helpline services, these problems would have previously been solved with the help of technology. Now, technology has completely revolutionised the whole process of compensation claims. Here’s how…
1. Practical management tools.
Insurance agents have always experienced data overloads in their field since they had to work with hard copy documents. However, with the advancement of technology, insurance agents can access soft copy data anywhere in a more precise way, which makes it easier for them to explain different policies to customers. With improved information structuring, agents can access specific information without the need to flip through physical files to get them. Also, thanks to predictive models, agents have the confidence to quote rates to customers since they now have an effective tool to manage their data.
2. Timely communication on claims updates to customers.
With technology advancements and its inclusion in insurance, providers can communicate with their clients in real time about recent updates and how they affect their policies. With devices such as smartphones being readily available, companies have a way to communicate with customers about claims updates. Also, customers can use mobile phones and computers to communicate with their employees in real time about any changes in compensation claims and the new rules set to warrant a compensation, meaning employees stay updated on new changes as they happen.
3. Use of dash cams to capture more evidence.
More and more drivers are installing dashboard cameras in their vehicles, which has been an eye opener for auto insurance companies who are becoming more alert to fraudsters. The cameras capture data about an accident as it happens, which gets transmitted directly to the provider, offering insights into what happened. With dash cameras, insurance providers can use the data captured as evidence to determine if the accidents were intentional or genuine. Many dash cameras have in recent days led to a reduction of fraudulent compensation claims as they have uncovered fake and intentional accidents perpetrated by some trying to get unlawful compensation.
4. Social media platforms to influence customer choice on insurance.
Customers can now assess an insurance company on social media platforms through user reviews and comments. With insurance becoming a requirement and the work environment remaining unpredictable, everyone needs an insurance company they can trust for compensation in the case of an accident; social media platforms and review sites give customers some insight into a company before they make a choice. Also, insurance companies are increasingly using the platforms to advertise their policies and coverages to attract more people.
5. Wearable tech to monitor employees.
It’s not uncommon for companies, especially those which involve working in dangerous environments, to incur costs in compensation claims for accidents happening in the workplace. However, to ensure claims are honest, insurance companies in conjunction with their customers are now using wearable technology to monitor and track the movements of employees to ensure they don’t go into the danger zones. For instance, construction companies have technology on their helmets that make them vibrate or flicker a light to warn the employees about danger zones. This technology reduces the instance of accidents and has reduced compensation claims by almost half.
