Did the computer obtain a police report in three seconds? Did the computer obtain a recorded statement in 3 seconds? Did the computer obtain any additional proof of ownership, purchase receipts, credit card receipts, copies of checks? Did the computer check pricing of items claimed? Did the computer run an ISO report in 3 seconds?
I think that the point is that we are entering a world where we don’t have to do those things in order to make a fair value judgement on the claim. This is high frequency, low severity stuff we are talking about here (for now)…
High frequency, low severity does not mean that you can ignore the fundamentals of claim adjustment. This system is only as good as the computer programmer behind it to outsmart people on the other end trying to commit fraud.
This company looks to be spending a ton of money on marketing and press releases. I’m all for the use of technology to improve efficiency, but this sort of “logic” seems like a recipe for trouble down the road.Let’s see where they are in 5 years.
It is just another way to save money. Can you imagine speaking to a robot to explain your issues, I can’t. Did the insured mentioned above email a paid receipt for the stolen article prior to or during the call. I have never heard of an insurer paying paying for anything without proof of ownership. Sounds like a very bogus advertisement. What was the deductible, and how much was paid? How about some real facts, not this hyperbole.
We have updated our privacy policy to be more clear and meet the new requirements of the GDPR. By continuing to use our site, you accept our revised Privacy Policy.
Did the computer obtain a police report in three seconds? Did the computer obtain a recorded statement in 3 seconds? Did the computer obtain any additional proof of ownership, purchase receipts, credit card receipts, copies of checks? Did the computer check pricing of items claimed? Did the computer run an ISO report in 3 seconds?
I think that the point is that we are entering a world where we don’t have to do those things in order to make a fair value judgement on the claim. This is high frequency, low severity stuff we are talking about here (for now)…
High frequency, low severity does not mean that you can ignore the fundamentals of claim adjustment. This system is only as good as the computer programmer behind it to outsmart people on the other end trying to commit fraud.
Let’s see where they are in 5 years.
This company looks to be spending a ton of money on marketing and press releases. I’m all for the use of technology to improve efficiency, but this sort of “logic” seems like a recipe for trouble down the road.Let’s see where they are in 5 years.
It is just another way to save money. Can you imagine speaking to a robot to explain your issues, I can’t. Did the insured mentioned above email a paid receipt for the stolen article prior to or during the call. I have never heard of an insurer paying paying for anything without proof of ownership. Sounds like a very bogus advertisement. What was the deductible, and how much was paid? How about some real facts, not this hyperbole.